Activity 3.5.docx - Shelby has been working at a local pet...

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Shelby has been working at a local pet store in the grooming department. She has just received her W-2 statement from her employer so that she can prepare her taxes. Her tax withheld from her paycheck is normally greater than the tax owed as calculated on her tax return. In the past, she has used her tax refund to build up her wardrobe with a shopping spree. However, as she gets closer to graduating, she is reconsidering this behavior and needs help deciding on a better alternative. Shelby's life situation: She is single, age 21 with no dependents and is a college students Shelby's financial data: Her monthly income $1,750 Personal property $7,300 Savings $2,000 Student loan $3,000 Credit card debt $2,400 Living expenses $1,210 Requirements: 1. Given her current situation, list some suggestions on what Shelby should do with a tax refund of $800. Based on her current financial data it would be best to put her refund towards her credit card debt. Decreasing her student loan or increasing her savings would also be
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