Financial Statements and Spending 3-1 2-18

Financial Statements and Spending 3-1 2-18 - into savings...

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Greg Stoker February 17, 2008 Professor Linck FNPL-101 Financial Statements and Spending Plans 3-1 The Ratterman’s net worth is $17,252. Total assets of $22,813 minus total debts of $5,561. Net cash flow for the 6 month period is cash inflows ($15,244) – cash outflows ($14,996) = $248. The Rattermans really need to set aside more savings in their budget. Their net cash flow for the 6 months shown was nearly dead even with cash inflows and outflows. They could tap some of the money they spend on entertainment or vacations and put it
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Unformatted text preview: into savings. The Ratterman’s biggest financial goal is to purchase a $1,800 computer in six months. This means that if they want to save evenly over that period of time, they need to save $300 a month. Money could be saved by preparing meals at home instead of wasting hundreds a month on dining out. Also the $200 allowances could contribute to the payment....
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