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Whalen_FIN1010_WK2_Exercises.docx

Whalen_FIN1010_WK2_Exercises.docx - FIN1010 Exercises...

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FIN1010 Exercises Module 2 Jack Whalen 1. Describe some examples of checking and savings account transactions that result in assessments of fees or penalties. Which are the least and most avoidable? Overdraft fees are easily avoidable if you have enough money in your checking account to cover any purchases or bills that you may have. This may be difficult to avoid if you have a very tight budget or often over spend. Monthly checking account fees are usually waved if there is a regular direct deposit over a set amount, or a balance above an amount is maintained. ATM fees can be charged when another banks ATM is used, unfortunately when we need cash we may be forced to pay these fees. 2. Analyze your personal budget as a financial planning tool for making decisions in the following situations. In each case, how will they affect your budget (consider each individually)? a. A neighbor and coworker suggest that he and you commute to work together.
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