Mgt 311 Week 2 Individual Assignment

For the sake of this assignment I am going to assume that Seth and Marie are living at home with their parents and this will be their first apartment together. By moving in together instead of getting separate apartments they will be splitting the expenses and saving money. First off, they should realize “Money produces more unnecessary conflict and worry than almost anything else” (Ellis, 2015). It isn’t stated if Seth and Marie will be combining their money or keeping it separate. Either way, conflicts regarding money are bound to happen. Openly communicating about their finances can help reduce the conflict. Before moving in together, Ellis (2015) states “tell the truth about how much money you have and how much you spend” (pg. 295). In order to budget the couples money, they should both be honest about how much they have and what they spend. If they budget

Their first month has some added expenses associated with moving into a new apartment, such as a security deposit and first month’s rent, but they have some savings to fall back on if needed. Two bedroom apartments in the Augusta, Maine area run approximately $850 a month with appliances, heat and hot water included. I chose to do a budget based on a two bedroom because Seth has a child which may stay with them frequently. Seth and Marie may need furniture but if they’re not in a rush they can find decent used furniture at lawn sales or thrift stores. When starting off they may have a higher than normal grocery bill as they do not have the everyday necessities in their cupboards. One of my biggest recommendations for Seth and Marie is to expect the unexpected. At any given point either could lose their job, have unexpected repairs on their vehicles or even get pregnant. If they’re able to make a budget and stick to it they should have enough extra money to be putting some in their savings every