Directions: You are a candidate for a Financial Planner position at a financial institution. As part of the hiring process, you have been asked to show your money management skills. Read the scenarios below and help the individuals with their money management concerns. 1. Doris is a 21-year-old high school graduate who lives with her parents . She wants to get her own apartment but doesn't have any money saved. She is interested in getting help from a financial institution. How could a financial institution help her with her money? 2. Todd keeps meaning to open a savings account and deposit a small portion of each paycheck, just in case he has an emergency, but he hasn't gotten around to it yet. Todd has enlisted you as his financial planner. What can you do to help him? 3. Carmen likes to spend money, but she has no idea how much she spends or where it all goes. She uses her phone all the time and feels using an app to help her get on track with expenses would help. How could an app help her and how should she choose one?

1. A financial institution can help Doris by offering her a savings account where she can deposit a portion of her income regularly. The institution can also provide her with financial education and advice on budgeting and saving. Additionally, they may offer her a secured credit card, which requires a cash deposit as collateral, helping her build a positive credit history.<br /><br />2. As Todd's financial planner, you can help him by setting up a direct deposit to automatically transfer a portion of his paycheck into a savings account. This ensures that he consistently saves money before having the opportunity to spend it. Additionally, you can discuss with him the importance of building an emergency fund and the benefits of having a savings account.<br /><br />3. An app can help Carmen by tracking her expenses and providing her with a clear picture of her spending habits. By using the app, she can categorize her expenses, set a budget, and receive alerts when she is close to reaching her limit. When choosing an app, Carmen should consider its ease of use, features, and reviews from other users to ensure it meets her needs.