1 Lazy Dollars do not Work Grantham University G00101293...

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1 Lazy Dollars do not Work Grantham University G00101293 Part I:
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LAZY DOLLARS 2 As I was going over my financial report from last week’s assignment I identified several areas where lazy dollars are lounging around and not working for me. I found them with my credit cards, the money I keep in my checking account and not, in a savings account. I also found that my current tax elections are not beneficial to my financial cause. Lazy Dollar Places Lazy Dollar Amounts Potential Monthly Working Dollars Credit Cards $5,073.28 $499.38 Checking Account $363.57 $250.00 Taxes $562.87 $274.12 If I change my tax elections for next year I can easily add an extra $274.12 of potential working money to my monthly income. Part II. Develop a personal and household savings plan. What savings strategies will you use to improve your financial situation? Explain why you chose each strategy instead of others that you did not choose. How much will you save each month? How much interest will you earn and how much will you have saved in 5 years, 10 years, and 20 years?
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