Saturday, March 28, 2020

Personal Budget Balance Sheet free essay sample

Therefore, being a good steward over your finances should be consistent and begin at an early age and progress as you age. This will provide an effective growth pattern to allow future financial security.  The purpose of this memorandum is to evaluate my client’s financial outlook, their personal budget, balance sheet, and cash flow statement and provide recommendations for improvement of their financial situation. My client, Chauncey Latham is 51 years old and a police officer. He is married and has one dependent. Kyle Latham, Chauncey’s wife is 47 years old and is currently not working. Prior to her unemployment, Kyle annual earnings were $96,000 a year. They live is a nice 4-bedroom house, in a great community with a sought after school district. The family has a comfortable looking life, though their financial outlook is pretty grim. Together Chauncey and Kyle earn $85,000 a year, which includes Chauncey’s off duty work and Kyle’s unemployment benefit. We will write a custom essay sample on Personal Budget Balance Sheet or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Their life savings have dwindled down the emergency fund is very low, and their credit card debt is high. The balance sheets show my clients assets and liabilities and verify their net worth. Any property including jewelry or saleable items is considered assets and can produce income. The asset value should have a fair market value, which means the amount of money they would have today if sold. This will allow them to have the proper foundation to establish strong financial understanding, develop strong money management skills that will pave the way long time financial security. Hence, I will determine their monthly income and show expenses to determine where modifications need to take place. IncomeActual Amt. PercentageProj Amount Salary $7,083 $7,083 Expenses Mortgage $1,400 $1,400 Property Tax $250 $250 Car Loan Payment $565 3% $548 Student Loan $485 4% $465 CC Payment $600 10% $540 House/Car/Life Ins $250 $250 Power $200 2% Water $70 $70 Telephone $265 10% $239 Gas/Transportation $400 $400 Food $800 10% $720 Clothing $100 50% $50 Med Exp. $150 $150 Entertainment $100 50% $50 Gift/Donation $300 30% $210 Saving/Emergency $500 $1,000 Savings Goal $300 $600 Based on the data, there is room for financial improvement. I would advise my clients to request lower interest rates on both their credit cards and car loan, and request student loan consolidation. Also, reducing the power usage in the home, change telephone plans to something more cost effective, and attempt to use coupons for grocery shopping when at all possible. Lastly reduce any spending on gifts, entertainment, and clothing would help in improving the overall financial outlook. If the plan is followed, the Lathams, would be able to increase the money deposited into the saving goal and emergency saving accounts. After a while, the money could be used to reduce the other debt. Having a personal budget is the blueprint for managing and spending finances. Use of the personal budget, gives you control over timely bill paying, monthly expenses, and provide an overall financial picture, so you know where you are each month.  Utilizing a budget will allow better forecasting in long-term financial needs, which will help in better long-term savings, student loans can be paid sooner, and liquid cash can be readily available when needed. A personal budget is key in improving financial health.

Saturday, March 7, 2020

Free Essays on History Of The Internet

In 1964, the RAND proposal was put forward. Written by Paul Baran, this proposal stated the principles of a new network which was to be built for maximum strength and flexibility. This new network would have no central authority. The principles of this network were that all the nodes would be equal in status and each could send and receive messages. All the messages would be sent in packets, each with its own address. These packets would be sent at one node and would arrive at another one. This may seem rather obvious, but what was new was that the way the packets went through the net was not important. That means that if one node was destroyed, the rest of the nodes would still be able to communicate. This is of course was inefficient and rather slow, but extremely reliable. The Internet still uses this method nowadays, and there has been only one collective crash so far. The Pentagon's Advanced Research Projects Agency (ARPA) wanted to install an advanced network based on the principles in the US. The network was called ARPANET and consisted of four high speed computers (nodes). In 1969, the first node was installed in UCLA. By 1971 there were 23 nodes on ARPANET. In 1972 the first e-mail program was created by Ray Tomlinson of BBN. He chose the @ symbol to link the username to the address. Telnet protocol allowed logging on to a distant computer. It was published as Request for Comments (RFC). These were means of sharing developmental work throughout the network community. Instead of using the ARPANET for long distance computing, the scientists used it for communicating with each other. Each user had his/her own e-mail address. In 1973, â€Å"Development began on the protocol later to be called TCP/IP, it was developed by a group headed by Vinton Cerf from Stanford and Bob Kahn from DARPA. This new protocol was to allow diverse computer networks to interconnect and communicate with each other (Kristula 1974-1983).†... Free Essays on History Of The Internet Free Essays on History Of The Internet In 1964, the RAND proposal was put forward. Written by Paul Baran, this proposal stated the principles of a new network which was to be built for maximum strength and flexibility. This new network would have no central authority. The principles of this network were that all the nodes would be equal in status and each could send and receive messages. All the messages would be sent in packets, each with its own address. These packets would be sent at one node and would arrive at another one. This may seem rather obvious, but what was new was that the way the packets went through the net was not important. That means that if one node was destroyed, the rest of the nodes would still be able to communicate. This is of course was inefficient and rather slow, but extremely reliable. The Internet still uses this method nowadays, and there has been only one collective crash so far. The Pentagon's Advanced Research Projects Agency (ARPA) wanted to install an advanced network based on the principles in the US. The network was called ARPANET and consisted of four high speed computers (nodes). In 1969, the first node was installed in UCLA. By 1971 there were 23 nodes on ARPANET. In 1972 the first e-mail program was created by Ray Tomlinson of BBN. He chose the @ symbol to link the username to the address. Telnet protocol allowed logging on to a distant computer. It was published as Request for Comments (RFC). These were means of sharing developmental work throughout the network community. Instead of using the ARPANET for long distance computing, the scientists used it for communicating with each other. Each user had his/her own e-mail address. In 1973, â€Å"Development began on the protocol later to be called TCP/IP, it was developed by a group headed by Vinton Cerf from Stanford and Bob Kahn from DARPA. This new protocol was to allow diverse computer networks to interconnect and communicate with each other (Kristula 1974-1983).†...