Natalie and Damien Case Study - Accounting and Finance Assignment Help

Assignment Task:

Case study summary – (same as first scenario but included here for convenience)

Natalie and Damien aged 23 and 28 met 2 years ago and are planning a life together.  They moved in together 1 year ago to rent a 1-bedroom unit in a suburb of Sydney for $750 per week.

Natalie earns $65,000 per annum including Super Guarantee (SG) contribution. She has no qualifications but has worked in her office role at a large investment bank for 5 years.  She is interested in financial products but works in administration so her knowledge is not strong in the area. Natalie is somewhat concerned about her job security as several office staff and dealers have been made redundant.

Damien is a tradesperson earning $95,000 per annum before SG. Damien is employed by a large company and plans further study so he can move into management.  He has an interest in financial accounts and financial products and has tried a bit of stock trading but has not been successful so far.  He was studying economics in HSC in the aftermath of the GFC in 2009 and started trading stocks when he was 19.  He quit after getting caught short in a bull run in 2012-2013 and lost about $5000 in the process.  He is still interested in shares but wants to try a longer term view but is not sure how to pick the right stocks long term.

The first meeting reveals:

• Monthly living expenses total $4800 including finance payments, rent and insurances 

• Annual holidays budget $10,000

• Credit card balance owning $2500 @ 20.5% - paying minimum

• Cars owned valued around $45000

• Car loans balance owing $15000 (assume all personal) @ 9.25% - paying minimum

• Natalie’s superannuation balance of $48000 is invested in a moderately aggressive fund

• Damien’s superannuation balance of $85000 is invested in a moderately aggressive fund

The couple has $2,500 in a joint transaction account, and no savings but they want to start saving for a deposit on a house.  Natalie inherited 2000 Westpac shares, from an aunt on 23rd July, 2018.  Damien’s grandfather gifted $15,000 to Damien and Natalie last month to help them start saving for a wedding and to buy a house.

Their goals are:

• To go on overseas holidays each year before they setting down to have children and expect to spend $10,000 each holiday

• To save funds for a wedding in 3 years’ time – the budget for the wedding depends on what they have available within that time-frame

• To pay off credit card and car loan in short-medium term which you will need to take into account when considering how much they can save within 2 years

• To buy a house or unit valued at $600,000 in 5 years’ time

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