Solution:
Justin monthly income = 4 × 40 × $16 = $ 2560
Amount that justin wife gives to justin for house expenses = $ 350
Total income generated = $ 2560 + $ 350 = $ 2910
Monthly cash outflow= $ 3,000
So, they have to borrow $ 90 from rent or from savings.
So, Amount got from rent = $ 2,000 -$ 90 =$ 1910
As Justin has retirement contributions taken out of his paycheck at work as well as he has renter, car and life insurance coverage.So, their financial plan should be Protecting assets →Option (C) then Managing Liquidity.