Mathew and Esme have primary and secondary financial goals focused on funding their daughter's education and ensuring a comfortable retirement. They need to manage their budget by reducing expenses, optimizing their income through full-time work, and creating savings plans for future investments. Recommendations include selling assets, making joint accounts, and carefully tracking their financial situation to align both expenses and income with their long-term goals.

1. RECOMMENDATIONS
ASSIGNMENT
CASE: MATHEW & ESME

2. Their Goals List
• Primary Goals – their primary goal is to ensure they can fund
Tyler’s post – secondary education costs at an annual cost of
$10,000 (Hartl, et al., 2018).
• Secondary Goals – their goal is to retire with an annual after tax
income of $75,000 during the time when Esme turns 60 years old
(Hartl, et al., 2018).

3. The Following Monthly Expenses
0
1000
2000
3000
4000
5000
6000
7000
utilities insurance food expenses transportation communications entertainment travel expenses
Series1

4. Cash Flow Statement
• Mathew may earn more money then
this as compare to Esme (Meyers, et
al., 2019)
• Esme have the power to handle the
better decision (Meyers, et al., 2019).
• Their total net incomes and the profits
is on their goals.

5. Mathew and Esme Budget process
• They have to handle all the
expenses of the family.
• After calculation they have to
make another plan.
• Complete the budget process.
• Handle the finance situation in the
house.

6. Net Worth Details of As March

7. Net Worth Cash Details of Mathew and Esme
• They have to make sure to
create the budget and the
amount of the money which is
require for their child
education.
• They have to make the
sepreate account for their
daughters studies
development $705.
Net Cash flow budget

8. Recomendations
THEY HAVE TO MAKE PROPER BUDGET PROCESS AND FOR THESE STEPS

9. Procedures of Recommendations
• They have to reduce the amount of the expenses as they have
been living in the rent house of $2,700
• Also, they have to sell one of the car which is worth $5,000.
• They have to make their account joint with the pays of the 0.5%.
• They have to investment out of their savings.

10. Expenses reduce level
• Control the expenses on the little and unuseful things.
• They have to invest their left amount arround $32,100.
• Do the adjustment of the Esme pensions.
• They have to caculate the exact amount of the Esme pension.
• Control the monthly expenses.

11. Compare year and month expenses
CHART DIFFERENCE
• There are the changes in the year
and the monthly expenses
• They have to control monthly
expenses to avoid the other types
of the risk in the budget maintian
• Also, they have to handle the
budget with contain all the
important amount.
37% 63%
63%
Total Expenses
monthly expenses
year exoenses

12. Level of the expenses
1 2
Series1 0 45%
Series2 0 75%
Series3 0 25%
Series4 0 0.50%
Series5
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
total
expnese
level of the expenses

13. Expenses details review
• They have to give importance to their
daughters education fees and the cost of
the other services (Tiamaz, & Nissrine
2016).
• Esme have to make the estimation value
amount of the pension (Tiamaz, & Nissrine
2016).
• Mathew should consider to work full time.

14. Mathew and Esme improvement
He has to do full time job
(Chugunov, 2016).
As he has the options and still
paying for the same amount of the
monthly daycares (Chugunov,
2016).
She has to make sure to save
more and more pension amount.

15. Esme improvement
• She has to make the things possible while continuing working.
• They have to implement the budget plan and then follow it and
also, attempt the different income resources (Ruscic, et al.,
2017).
• Esme have to handle the pension amount budget
(Mirgorodskaya, et al., 2017).

16. Cash Flow Statement evolution
MATHEW AND ESME HAVE TO DO THE CHANGES IN THEIR FAMILY BUDGET

17. Evolution
• They have take the insurance and the policy for their daughters educations.
• Mathew has to do the full time job compare to part time to earn more
money and his other work will remain pert times (Elmendorf, 2017).
• Esme is the software technical has to save her salaries for the future
investment (Moshkova, 2022).
• Mathew has to reduce the day care monthly charges.

18. References
• Ruscic, K. J., Grabitz, S. D., Rudolph, M. I., & Eikermann, M. (2017). Prevention of respiratory complications of
the surgical patient: actionable plan for continued process improvement. Current opinion in
anaesthesiology, 30(3), 399.
• Tiamaz, Y., & Nissrine, S. O. U. I. S. S. I. (2016, October). Meta-analysis of Lean case studies for the business
process improvement. In 2016 4th IEEE International Colloquium on Information Science and Technology
(CiSt) (pp. 175-181). IEEE.
• Hartl, S., Rice, A. N., Gupta, D. K., & Goode, V. (2018). Preprocedural checklist for magnetic resonance imaging
patients undergoing general anesthesia: a process improvement plan to enhance reimbursement. The health care
manager, 37(3), 205-210.
• Meyers, C. V., & VanGronigen, B. A. (2019). A lack of authentic school improvement plan development:
Evidence of principal satisficing behavior. Journal of Educational Administration.

19. • Chugunov, I., & Makogon, V. (2016). Budget policy under economic transformation. Економічний
часопис-ХХІ, (158), 66-70.
• Mirgorodskaya, E. O., Andreeva, L. Y., Sugarova, I. V., & Sichev, R. A. (2017). Balanced budget
system: organizational and financial tools.
• Elmendorf, D. W., & Sheiner, L. M. (2017). Federal budget policy with an aging population and
persistently low interest rates. Journal of Economic Perspectives, 31(3), 175-94.
• Moshkova, D. M., & Tkachenko, R. V. (2022, March). Improving the Funding of Megascience
Projects under Current Budget Policy of Russia. In Journal of Physics: Conference Series (Vol. 2210,
No. 1, p. 012015). IOP Publishing.