- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
Case Study #1 Answers
The balance sheet for Steve and Mary Jo should look like this:
Assets | ||
Primary Residence | $150,000 | |
Monetary Assets | $5,000 | |
Automobiles | $20,000 | |
Furniture | $10,000 | |
Total Assets |
$185,000 |
|
Liabilities | ||
Current Bills | $1,150 | |
First Mortgage | $100,000 | |
College Loan | $10,000 | |
Automobiles (2 x $10,000) | $20,000 | |
Total Liabilities |
$131,150 |
|
Net Worth (Assets–Liabilities) | $53,850 |
Generally, they are doing OK. While they have a positive net worth, most of that value is from equity of their home.