UNIVERSITY OF THE PEOPLE

FACULITY: BUSINESS & SOCIAL SCIENCES

NAME: WITHHELD

STUDENT NO: s167454

COURSE UNIT: PERSONAL FINANCE

COURSE CODE: BUSS 2204

TASK: WRITTEN ASSIGNMENT (UNIT 1)

INSTRUCTOR: STEPHEN DIMARCO

SUBMISSION DATE: 11TH April 2021

DUE DATE: 14TH April 2021

A paper presented to the Facility of Business and Social sciences at the UNIVERSITY OF
THE PEOPLE in partial fulfillment for the Award of a Bachelor’s Degree in Business
Administration (BBA).
Complete the Assignment: Personal Finance by Rachel Siegel and Carol Yacht (2009); Page

23. Exercise 2. See below: “Use the S.M.A.R.T. planning model and information in this section

to evaluate Alice’s goals (below). a. pays off student loan b. buy a house and save for children’s

education c. accumulate assets d. retire e. travel around the world in a sailboat. Discuss your

evaluations" (p.23). Prepare a two-page (double-spaced) essay. Cite references to material that

you use in preparing the essay.

According to a popular model, the goals to be truly useful goals must be Specific, Measurable,

Attainable, Realistic, and Timely (S.M.A.R.T.) Siegal, R. & Yacht, C. (2009).

In this paper therefore, I will evaluate Alice`s goal and these are: Pay off student loan, buy a

house and save the children`s education, accumulate assets, retire and travel around the world

in a sailboat.

My evaluation will be based on the provided income and expenditure for Alice.

Siegal, R. & Yacht, C. (2009).

Pay off student loan

My evaluation to this goal meets all requirements of SMART, this entails that this goal is

Specific, measurable, attainable based on her financial status, realistic and time bound,

Therefore this goal will be achieved in a short term range of 1-2 years.

Buy a house and save for the children`s education

Looking at Alice savings of 400 USD, for a start and after paying off student loan alice will

have a lot more to save, this makes this goal SMART.Alice will be able to meet her goal within

4-7 years period.

Accumulate assets

This goal of Alice also meet all requirements for SMART goal, based on Alice`s. Income and

expenditure, this goal is long term goal and will likely to be achieved within the period of 6-10

years.

Retire and travel around the world in a sailboat.

Alice must be commended to include retirement in her goals, many people over look this

goal.This goal is SMART and long term, for her to save enough that cater travels around the

world after retirement she really need to start it immediately so that it can be realized.This goal

will take long approximately 10-15 years.

References

Siegal, R. & Yacht, C. (2009). Personal Finance. Saylor Foundation. Licensed under Creative

Commons CC BY-NC-SA 3.0.