Case Study: Personal Financial Planning Answers

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1
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Joann has decided to purchase a new car. What should she do next according to the decision-making process?

A
Arrange for a car loan.
B
Choose a car color and style.
C
Visit a car dealership.
D
Research available cars for sale.
2
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Which of these would require a significant but temporary budget revision?

A
paying a recurring credit card bill
B
adopting a kitten from a shelter
C
replacing a broken dishwasher
D
purchasing a newly released movie
3

Daniel wants to buy a laptop computer, and he has $300 in savings. He can purchase a new computer for $279 or a refurbished [repaired or renovated] computer for $100. What should Daniel do next?

A
Evaluate his decision to buy a computer.
B
Revise his budget to allow for a new computer.
C
Obtain a credit card to pay for a refurbished computer.
D
Review the pros and cons of the different available computers.
4

When planning a budget, the biggest consideration should be the

A
the monthly savings amount.
B
the total income available to spend.
C
the total housing or rent payments.
D
the monthly transportation cost.

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