1. As a percentage of your estimated monthly disposable income (which you identified in Week 2), what proportion is represented by your monthly automobile, mortgage, and/or rental payments? What is the percentage remaining after those monthly expenses have been deducted? Assess and discuss the implications in terms of how they influence your personal financial planning.
2. Suppose you found yourself in a position where your monthly level of income was cut in half. Assume this misfortune will persist for the long term. Discuss the effect such a salary reduction would have on your current lifestyle. What conclusions can you draw? What changes would you make regarding your expenses and how would you implement any new financial strategies?