Create a personal financial plan for three exemplar couples. Any gender is allowed.

Show all workings. You will find it useful to use the Planolitix software tool to generate results. You can then export the results from Planolitix.

Couple: Aged 35 & 39 with 2 children aged between 5 & 12. Their combined net income is $65,000 p/a, total expenditure is $56,000. They should have net investments worth below $60,000, and a mortgage worth at least $300,000 at 3.5%.

For each couple:

1. Create cash budgets, net worth, and cash flow statements.

2. Set financial goals for the next 1 year, 5 years, 10 years, and 20 years.

3. Create a cash management plan, a budget, a savings strategy, and a debt plan.

4. Explain what financial issues each couple has.

5. What is their net worth expected to be at age 65?

6. What financial risks does each couple face?

7. Then examine how changing the monthly budget surplus, up and down, by 2%

   or 5% affects long term net worth.

8. Finally create a report summarizing the results and comparing the current

   financial situation, and future prospects, for the couple.