a. Prepare personal financial statements for Brad, including a personal cash flow statement and personal balance sheet.

b. Based on these statements, make specific recommendations to Brad about what he needs to do to achieve his goals of paying off his credit card balance and saving for retirement.
c. What additional goals could you recommend to Brad for the short and long term?

Personal Cash Flow Statement Cash Inflows This Month Total Cash Inflows Cash Outlows Total Cash Outflows Net Cash Flows Personal Balance Sheet Assets Liquid Assets Cash Checking account Savings account Other liquid assets Total liquid assets NAME DATE Household Assets Home Car Furniture Other household assets Total household assets Investment Assets Stocks Bonds Mutual funds Other investments Total investment assets Total Assets Liabilities and Net Worth Current Liabilities Loans Credit card balance Other current liabilities Total current liabilities Long-Term Liabilities Mortgage Car loan Other long-term liabilities Total long-term liabilities Total Liabilities Net Worth