Asked by:

tamekam from Colorado Technical University
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Questions Asked: 59
Tutorials Posted: 2, earned $0.00

 

$8.00 Personal Financial Concepts

• From Business: Finance , Economics: Public-Finance
• Closed, but you can still post tutorials
• Due on May. 22, 2008
• Asked on May 20, 2008 at 1:47:43PM

Q:

A friend tells you that he has a job that pays US$1,500 per month (after tax); however, he is spending US$1,900 per month and taking on more credit card debt to meet his monthly bills. In conversation he says, "I love to fix up my car, and I love purchasing new clothes. I need money for the things I want to do." He ends the conversation by saying, "My father always says that I need a budget, but I tell him that I am doing just fine without one."

Compose an e-mail to send to your friend explaining personal financial management techniques he can employ.