- 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.
