Personal Finance Case- develop a solution a road map advice for the Case Study

Personal finance - develop a solution a road map advice for the families - Case Study ExampleTheir character reference automobiled debt is an indication that Bruce and Faith are living beyond their means. This is supported by the fact that they do not have any cash savings with them. It is important for this braces to save at to the lowest degree ten percent of their earnings and hold it in liquid cash so that it can dog any emergencies since their assets cannot be easily liquidated. Bruce and Faith should consider travelling to shorter destinations and drop their plans for a new car that they are to planning to buy. This will assist them save money to pay their mortgage and meet the expenses that beget as a event of late parenthood. They can also consider cutting their expenditure for their young ladys wedding by half and use that money to add their bank savings. This will increase their net worth.The couple should also consider using both their employers health covers, tak e up disability insurance cover and have a retirement account. This will reduce their tax fit income. If the couple gets the one hundred and fifty thousand dollar inheritance from Faiths father, they should use it to surpass their mortgage and other debts. The remaining amount should be put in long term enthronization to increase their net worth.An overview of Peggy Bries case shows that though widowed at an age that is eight years below the average widow age, she can meet her financial obligations without too much struggle. Her strategy should be to use the amounts from her husbands life insurance policy, IRA and inheritance to clear her debts. This will result in an increased disposable income for her as almost half of her salary goes to paying debts. If she manages to do this, hence her worries about how to maintain her house will be over as she will be able to live comfortably with her children. Brie should go ahead and use her husbands life insurance policy funds to pay fo r her mortgages so that she can be able to use