Problem: During in college, Jenny worked part-time and was never concerned about long-term financial planning. Rather than creating a budget, she used her checkbook and savings account (which usually had a very low balance) to handle her financial needs.
As soon as she’s finishing college, she started her career as a teller in the bank. One year later, her assets consist of a 2010, a computer, some electronic entertainment equipment, and clothing and other personal belongs, with a total value of about $8,200.
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Life Situation
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Financial Data
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Single
Age 25
Starting a career
No dependents
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Monthly income
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$2,600
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Living expenses
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$2,180
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Assets
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$8,200
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Liabilities
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$3,470
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Emergency fund
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$530
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Question: What are financial actions and revised goals Jenny might want to consider at this time?