Kamal (32 years) and Mervat (28 years) are two engaged couple.. who are planning to get...

 

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Kamal (32 years) and Mervat (28 years) are two engaged couple.. who are planning to get married within 6 months period. Kamal is a university graduate with MBA and has been working for the last 10 years in a major wholesale textile Trade Company with 30 employees. He is currently the sales manager with monthly salary $2,500, and year-end bonus package reached last year $6000. Over the 10 years working career, Kamal was able to save an amount of $60,000. His father death last year allowed him to inherit an amount of $30,000 in cash. Mervat holds a BS degree in Laboratory Science and works as a senior lab technician in a major hospital for the last 6 years, with a monthly salary $1,400. She currently holds a saving account with a balance of $15,000. Mervat and Kamal are in the process of planning their future marriage and building family with respect to different aspects such as: Life style, the standard of living they should live at (monthly living expenses) Housing (buy or lease, area of apt. borrow and buy, fully equity Finance) Insurance (type and coverage amount) Furniture, & Automobile Travel Banking, investment, saving Children, & education Career planning & development Emergency funds Others Question: In two to three pages long, try to prepare a major convenient personal financial plan that suits the situation of Kamal and Mervat. Kamal (32 years) and Mervat (28 years) are two engaged couple.. who are planning to get married within 6 months period. Kamal is a university graduate with MBA and has been working for the last 10 years in a major wholesale textile Trade Company with 30 employees. He is currently the sales manager with monthly salary $2,500, and year-end bonus package reached last year $6000. Over the 10 years working career, Kamal was able to save an amount of $60,000. His father death last year allowed him to inherit an amount of $30,000 in cash. Mervat holds a BS degree in Laboratory Science and works as a senior lab technician in a major hospital for the last 6 years, with a monthly salary $1,400. She currently holds a saving account with a balance of $15,000. Mervat and Kamal are in the process of planning their future marriage and building family with respect to different aspects such as: Life style, the standard of living they should live at (monthly living expenses) Housing (buy or lease, area of apt. borrow and buy, fully equity Finance) Insurance (type and coverage amount) Furniture, & Automobile Travel Banking, investment, saving Children, & education Career planning & development Emergency funds Others Question: In two to three pages long, try to prepare a major convenient personal financial plan that suits the situation of Kamal and Mervat.