1. Using Your Personal Plan Sheet #2, what are Jamie

1. Using Your Personal Plan Sheet #2, what are Jamie Lee’s short term financial goals? How do they compare to her intermediate financial goals? 

2. Browse Jamie Lee’s current financial situation. Using the SMART approach, what recommendations would you make for her to achieve her long-term goals?

3. Name two opportunity costs that would be considered in Jamie Lee’s situation?

4. Jamie Lee needs to save a total of $9,000 in order to get started in her cupcake café venture. She is presently depositing $1,800 a year in a regular savings account earning 2% interest. How much will she have accumulated five years from now in this regular savings account, assuming she will be leaving her Emergency Fund savings account balance untouched and for a rainy day?


Jamie, has also recently taken out a student loan to cover her educational cost expenses. Jamie Lee just started depositing $1,500 a year in a sayings account that earns 2 percent interest, in hopes  of having the $9,000 down payment needed to start the cupcake café two after graduation.

Current Financial Situation

Checking account: $1,230

Emergency fund saving, account: $3.100

Car: $4.000

Student loan:$5,400

Credit card balance: $400

Gross annual salary: $2,125

Net monthly salary: $1.560

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