Analysis and Decision-Making Case Willa had barely left the building after her second job interview when she received a call-she got the job! She immediately called her friend Blake. guilty about it. Blake: You realize you're still going to have bills to pay, right? And your student loans won't just pay themselves off? Willa: Of course, I know that. But still, there will be plenty left over once I cover my expenses. 1. She will be working in Houston, Texas. Her start date is September 1, 2024. the 15th and 30th of each month. 3. Willa currently has $1,000 in her bank account. housing website she uses), then she must estimate and include them. Assume Willa currently lives three hours away from Houston by car. she doesn't have to. If she doesn't use the card, she owes nothing. Using the credit card is just an option. - Zero down payment, with a $500 minimum monthly payment. - $1,500 down payment, with a $300 minimum monthly payment. - $2,500 down payment, with a minimum monthly payment of $200. festive occasions during the year. support for the budgeted amounts of these items.) - Car. - Computer/laptop and printer. - Bed/frame/mattress. - Work attire. - Couch or comfy chair. - Dishes, cutlery, pots, pans. - Kitchen table and chairs. - Cleaning supplies and vacuum. - TV and TV stand/wall mount. 9. Willa must also include the following items in her monthly budget. - Cell phone plan. - Streaming service and Internet (if not already included with rent or utilities above; if included, that should be clearly stated). - Food. (Do not use any online estimates/food guides to come up with your budgeted monthly food expenditures.) - Entertainment. Consider a wide variety of entertainment, including movies, sporting events, and travel. - Fuel costs (if she has a car), with mileage calculations using $2 /gallon. - Car maintenance costs (if she has a car). - Insurance. Car insurance (if she has a car) and renter's insurance for her belongings. - If she chooses not to have a car, Willa must budget for other modes of transportation. - Medical expenses. Health insurance, as well as prescription costs and co-pays for doctor visits. - Willa has a required $300 monthly payment for student loans, interest included. - Savings. To be easily accessible and separate from both her checking account and retirement contributions. - Retirement contributions. These are separate from savings, since they are for the distant future. - Gifts for others. Willa, again, has discretion as to the amount and frequency, but she should consider them. above. Required a. Help Willa put together a monthly cash budget that includes six months of budgeted cash inflows and outflows starting on September 1 , her first day on the job. This is best done using six columns (one for each month) in an Excel spreadsheet. b. Provide a listing of Willa's total assets and total liabilities at the end of her six-month budget period. A full balance sheet is not required; rather, provide just a straightforward listing of her budgeted assets and liabilities and their corresponding dollar values at the end of February 2025 . This will help her identify her personal financial position after six months of work. c. Include supporting documentation, assumptions, estimates, and calculations for all amounts. d. Briefly describe the methodology you used to arrive at Willa's budgeted numbers. What goals will Willa accomplish in this budgeting process? Please also include commentary on the following. 1. Which of these budgeted items are essential and which are discretionary? 2. On February 28, 2025, Willa opens the mail and finds a bill for $2,500. The bill is due, in cash, in 30 days. Be very specific and identify how Willa would pay it. 3. What are your insights, observations, and conclusions as a result of completing this assignment? Analysis and Decision-Making Case Willa had barely left the building after her second job interview when she received a call-she got the job! She immediately called her friend Blake. guilty about it. Blake: You realize you're still going to have bills to pay, right? And your student loans won't just pay themselves off? Willa: Of course, I know that. But still, there will be plenty left over once I cover my expenses. 1. She will be working in Houston, Texas. Her start date is September 1, 2024. the 15th and 30th of each month. 3. Willa currently has $1,000 in her bank account. housing website she uses), then she must estimate and include them. Assume Willa currently lives three hours away from Houston by car. she doesn't have to. If she doesn't use the card, she owes nothing. Using the credit card is just an option. - Zero down payment, with a $500 minimum monthly payment. - $1,500 down payment, with a $300 minimum monthly payment. - $2,500 down payment, with a minimum monthly payment of $200. festive occasions during the year. support for the budgeted amounts of these items.) - Car. - Computer/laptop and printer. - Bed/frame/mattress. - Work attire. - Couch or comfy chair. - Dishes, cutlery, pots, pans. - Kitchen table and chairs. - Cleaning supplies and vacuum. - TV and TV stand/wall mount. 9. Willa must also include the following items in her monthly budget. - Cell phone plan. - Streaming service and Internet (if not already included with rent or utilities above; if included, that should be clearly stated). - Food. (Do not use any online estimates/food guides to come up with your budgeted monthly food expenditures.) - Entertainment. Consider a wide variety of entertainment, including movies, sporting events, and travel. - Fuel costs (if she has a car), with mileage calculations using $2 /gallon. - Car maintenance costs (if she has a car). - Insurance. Car insurance (if she has a car) and renter's insurance for her belongings. - If she chooses not to have a car, Willa must budget for other modes of transportation. - Medical expenses. Health insurance, as well as prescription costs and co-pays for doctor visits. - Willa has a required $300 monthly payment for student loans, interest included. - Savings. To be easily accessible and separate from both her checking account and retirement contributions. - Retirement contributions. These are separate from savings, since they are for the distant future. - Gifts for others. Willa, again, has discretion as to the amount and frequency, but she should consider them. above. Required a. Help Willa put together a monthly cash budget that includes six months of budgeted cash inflows and outflows starting on September 1 , her first day on the job. This is best done using six columns (one for each month) in an Excel spreadsheet. b. Provide a listing of Willa's total assets and total liabilities at the end of her six-month budget period. A full balance sheet is not required; rather, provide just a straightforward listing of her budgeted assets and liabilities and their corresponding dollar values at the end of February 2025 . This will help her identify her personal financial position after six months of work. c. Include supporting documentation, assumptions, estimates, and calculations for all amounts. d. Briefly describe the methodology you used to arrive at Willa's budgeted numbers. What goals will Willa accomplish in this budgeting process? Please also include commentary on the following. 1. Which of these budgeted items are essential and which are discretionary? 2. On February 28, 2025, Willa opens the mail and finds a bill for $2,500. The bill is due, in cash, in 30 days. Be very specific and identify how Willa would pay it. 3. What are your insights, observations, and conclusions as a result of completing this assignment