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Question: based on the scenario below determine whether or not imani...

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Based on the scenario below, determine whether or not Imani is doing an effective job in managing her finances. What advice might you offer Imani to help her do even better?

 

Scenario #1: Imani has just been hired as a content specialist at NewsCred, a local marketing firm in Manhattan. Her salary will be $42,000. However, her net income will only be $28,140 after taxes (Federal deducts 15%, State deducts 6.85%, City deducts 3.5%, Social Security deducts 6.2%, and Medicare deducts 1.45%). She has decided to move to South Slope, Brooklyn with one roommate. Her monthly rent will be $2,600 and heat and hot water will be included if she chooses to sign the lease. Furthermore, Imani is responsible for making her student loan payments ($150/month) as it has been seven months since her college graduation. She will also have to pay for her own health insurance (see budget below). She currently has $2,500 in her savings account at Chase Bank and $3,000 in her checking account at TD Bank.

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