Part A:

1. Allison expects her monthly cash inflow after taxes to be $3000. She also has the following monthly expenses: Rent, $750; student loan payment, $200; utilities, $150; food, $300; recreation, $600; car expenses, $200; clothing, $150. What is Allison's net cash flow for the current month?

2. Judy has cash inflows of $3,000 for the month of June. Her expenses or cash outflows were $4,000. List two (2) options for Judy to meet her financial obligations in June and indicate the effect (increase or decrease) of these options on her assets and liabilities.

Part B:

Describe how credit cards affect the following.

1. Your personal budget

2. Your income statement

3. Your balance sheet

Part C:

Describe at least two (2) advantages and two (2) disadvantages of selling your home yourself instead of hiring a realtor.

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