(Solved): Emerson and Nevada are getting married. They have both sat down and written out a basic picture o ...

Emerson and Nevada are getting married. They have both sat down and written out a basic picture of their financial situation. Emerson lives in an apartment with two roommates. They split their utilities \( (\$ 150) \) and rent \( (\$ 1,400) \) equally. He buys about \( \$ 60 \) a week in groceries and eats out a lot ( \( \$ 120 \) per week). He has a brand-new car (valued at \( \$ 18,000 \); with loan balance of \( \$ 21,500 \); monthly payments of \( \$ 415 \); maintenance and gas of \( \$ 95 \); insurance of \( \$ 189 \) ) and a small boat (valued at \( \$ 500 \) ). He spends about \( \$ 50 \) a month on clothes, \( \$ 100 \) per month on entertainment, and \( \$ 200 \) per month on going out. He works full-time as a manager and makes around \( \$ 2,605 \) per month after taxes. He has a poker habit, but limits himself to \( \$ 50 \) per month. His phone costs \( \$ 80 \) per month. He has \( \$ 1,300 \) in savings and \( \$ 800 \) in his checking account. His student loans amount to \( \$ 35,000 \), with a monthly payment of \( \$ 277 \). He has a credit card with \( \$ 500 \) outstanding and a \( \$ 25 \) minimum payment each month. Nevada lives with her parents. She is finishing school and is looking to get a job at a museum. She has a part-time job as an antique appraiser (10 hours per week at about \( \$ 30 \) per hour after taxes). She does not buy groceries but anticipates that they will run \( \$ 85 \) per week. She eats out occasionally (\$30 per week). With her part-time work she has managed to pay off her truck. It is worth \( \$ 2,300 \); gas and maintenance cost \( \$ 200 \) per month due to work travel. She has amassed a sizeable coin collection that is valued at \( \$ 4,600 \). She spends about \( \$ 100 \) per month on clothes, \$20 per week on entertainment, \( \$ 30 \) per week on books, and gives about \( \$ 200 \) per month to charity. She also has a checking account with \( \$ 500 \) in it on average, a savings account with \( \$ 3,000 \) in it, and \( \$ 5,600 \) invested in a bond mutual fund. Her mutual fund investments pay her \( \$ 48 \) per month on average. They are planning to have a small wedding and have budgeted to spend \( \$ 9,000 \). Their parents have offered to pay \( 50 \% \) of what they spend on the wedding. After the wedding, Emerson and Nevada plan to live in their own place that they have picked out. It costs \( \$ 900 \), and utilities will run about \( \$ 150 \). 1. Fill out Emerson and Nevada's combined personal financial statement in the space shown below. The average month has \( 4.34 \) weeks in it (365 days per year/12 months per year/7 days per month). In the change column write down whether you think each item will increase (+), decrease ( \( - \) ), or stay the same \( \left({ }^{*}\right) \) after they get married six months from now.