To: Karen Acree
From: Derek DeHoyos
Date: December 24, 2020
Subject: Business Memo
After going through and reading the receipts, bank statements, bills, etc. I have
learned that my Dad, and Stepmom have already been on a budget due to this whole
COVID-19 Pandemic, but there was also room to save money. I have decided to us
them because I have not moved out yet. The expense that had the most improvement
was Miscellaneous Expenses went from $150 to $75 with just some little change. After
looking at the expenses such as gas station drinks, snack here and there, etc.…If they
cut that back they would save even more. Another expense that made them think was
the hot tub after doing the numbers and being used. If they also cut back on tv, Wi-Fi,
gas money, and AT&T, they also saved a couple hundred as well. What really helped
them was their cash on hand due to their positive lines of credit, savings, and monthly
incomes due to being salary. I think the execution of the spending plan was used with
real numbers that were mostly not made as an educated guess. They have really saved
money to find a new house and keep their debt ratio down as much as possible.