Answer to Question #290110 in Finance for Kelsey Jand

Question

Over 14 million Americans are unemployed. Now imagine you’re one of them. Your savings are gone. You’ve lost your house. And you’re down to your last $1,000. Can you make it through the month? 

Use any of the following vocabulary terms in your explanation to demonstrate your understanding of them: assets, lifestages, early adulthood, middle adulthood, later adulthood, labor market, capital market, credit market, business cycles, gross domestic product, depression, recession, unemployment rate, purchasing power, inflation, deflation, consumer price index, financial planning process, financial advisor, income, liquidity, expenses, budget deficit, budget surplus, stocks, bonds, opportunity cost, sunk cost, capital gain, capital loss, equity, cost of equity, risk, debt, cost of debt, interest, principal, and/or diversification.

Question: How do you feel about your situation? Do you think you can live 30 days with $1,000? Explain.

Answer 1

A month is Composed of 30 days and each day the average amount an individual can use is 10 dollars. unemployment is challenge that many youths are facing due poor financial advisors. the country is investing its capital in sectors which are not creating job opportunities to youths. Now that have lost a house $1000 dollars is very little. Assets for a new house are very expensive compared to the available income. apart from renting a house daily expenses are also too many.

therefore with such amount of money i will not be able to manage. there are high chances I may end up getting depressed since I cannot pay my bills.

since am in my adulthood stage being jobless is the worst thing ever. Therefore the government should look for ways to stabilize the labor market for everyone to have a daily income. proper financial planning and budgeting can also help in solving this unemployment issue.