Need an argumentative essay on Finance (Case Study). Needs to be 7 pages. Please no plagiarism.Download file to see previous pages... They should work out how much (after paying off all their debts an

Need an argumentative essay on Finance (Case Study). Needs to be 7 pages. Please no plagiarism.

They should work out how much (after paying off all their debts and driving down their expenditure) they can save every month. Good saving habits and practices begin with a clear knowledge and understanding of what one is capable of and how much one can spend at any given time without negatively affecting his/her financial health. The couple must therefore know how much they are capable of saving every month, compare that figure to the actual amount they are saving and then start cutting down on unnecessary spending. Work out a Saving Plan Ascertaining saving is only the first step. It acts as a precursor to the next course of action, which is working out a saving plan. The most important thing to note here is that one thing leads to the other, and in a case like this it is advisable to move in a systematic and methodical manner. Assuming the couple has now figured out how much they are capable of saving every month, they can now move to achieve that goal. All expenditures should be planned in such a way that the saving targets are either met at the end of every month (or even surpassed). So long as the couple is saving money, meeting its targets and avoiding unnecessary expenditures, a strong financial foundation has been laid which will act as a launching pad for financial security and freedom. Their Current Financial Situation I would say that the couple is currently doing fine. Their total expenditure per annum is $228,348, compared to their total income per annum which is $294,650. This means that at the end of every month they are able to save $66,302. In addition to this, their investments and assets total $1,771,500, while their total debt is $28,965. I would therefore say that since the couple is not in debt and they are able to save some money, their financial position is pretty healthy. As a consequence, it is possible that through better saving and spending habits, they can save even more money and maintain a positive financial outlook going forward. All the Aspects of their Finances Kevin and Alex are capable of saving more than they are saving now. The only thing they need to do is to eliminate any unnecessary costs and expenditures that can only serve to increase their debt. It is however encouraging to see that both of them have invested in either a superannuation or some other type of fund. Alex diverts a portion of her salary ($33,000) to a superannuation fund, while Kevin has invested in a superfund. Apart from this, the couple has invested in a share portfolio, an investment unit and a debenture. The superannuation is important because it provides them with a sense of security and something to fall back on once they are either retired or are unable to work. The debenture, investment unit and share portfolio also offer viable financial alternatives that would otherwise be unavailable if the couple did not seek financial security. Their Overall Situation I would laud the couple for making efforts to secure their future, because although they are faced with numerous financial challenges, they are managing to stay afloat. With a combined income of less than $300,000, it is commendable that they have made some very good investment moves. They took out a mortgage, and even though it was $850,000 at the time they took it, their house is now worth $1,050,000.