Personal Finance 1st Edition by Jack R. Kapoor

Exercise 2

Planning for an Investment Program. Assume you are 29 years old, your take-home pay totals $2,400 a month, your monthly living expenses total $1,400, your monthly car payment is $400, and your credit card debts total $3,500. Using the information presented in this chapter, develop a three-part plan to (a) reduce your monthly expense, (b) establish an emergency fund, and (c) save $6,000 to establish an investment program.

Step 1 of 5

An individual age is 29. His take-home pay is $2,400 per month. Amount of monthly expenses is $1,400. The persons need to pay the amount of $400 for car payment. Credit card debts are $3,500.