Waverly And Comparing Dollars Case Study

Waverly and Disappearing Dollars
1. How would you solve Waverly’s budgeting issue? In order to solve Waverly’s issue, I would advise her to work on the zero-based budget, this is where every dollar has a name before the month begins. Waverly is doing great at giving every dollar a name but instead of doing it as she spends her money she needs to do it before the month begins, so that she is already aware of where her money is going to for that month.
2. Is Waverly right in giving every penny a name? Yes, Waverly is definitely doing right by giving every penny she spends a name. By doing this she can recognize exactly where her money is going. If Waverly doesn’t continue telling her money what to do, then she will always wonder where it went. She is very smart to give every penny she makes a name and purpose.
3. Instead of updating her spreadsheet every time she makes a purchase, is there a better way for her to keep track of her money? If so, how? Yes, instead of updating her spreadsheet every time she makes a purchase she needs to plan what she’s going to spend before every months begins. Waverly could also use the
What advice can you give her to help her meet her goals? Sofia needs to begin working on the 7 baby steps. If she follows these steps it will allow her to be finically ready for the future. By doing the 7 baby steps it will help to prioritize her money and came out ahead. I would also advise Sofia to be very patient with the process. Since she has an irregular income it is even more important for her to budget her money. She must put it on paper and have a purpose for her money before every month begins. Sofia needs to run a regular budget form for the income that she knows she will get. For the extra money that Sofia might get then she needs to fill out an irregular income planning form. This will allow her to know exactly where that extra money she might get will go and still benefit her. Planning for unpredictable income is very