Question

Mariah is single and has a monthly disposable income of $3,200. Her monthly cash outflow is approximately $2,800. Mariah includes contributions to a retirement plan and money for investments as part of her cash outflow. She has car insurance and a life insurance policy. Mariah has saved $15,000, but wishes to use $10,000 for a down payment on a house. She has also purchased furnishings for a house, which she has in the spare bedroom of her apartment. Mariah hires a financial planner to examine her money management, and he determines that her plan needs work. What part of Mariah’s financial plan would he encourage her to work on and why?

Answer 1

Mariah hires a financial planner to examine her money management, and he determines that her plan needs work. What part of Mariah’s financial plan would he encourage her to work on and why?

Answer: If Mariah hired a financial planner to examine her money management he would point out from her plans that the part that needs to work on is the down payment of 10,000 on a house. The reason being that it would lower the amount of money that she has saved. And the budget that she has is not very high since she also has to pay for her car insurance and life insurance.

I hope it helps, Regards.

Answer 2

It is D. Her plan for protecting her assets. In case of an emergency, she should have renters insurance for her apartment.

Explanation:

I got it in the test