Business and Personal Finance © 2007

Chapter 21: Managing Payroll and Inventory

NAF Case Studies

Plan Your Financial Life (National Academy Foundation)

Wanda and Cliff are self-employed. They run a cleaning business called "Sparkle and Shine." Wanda cleans individual homes during the day and Cliff cleans two large office buildings in the evenings. This schedule works out well because they have two children in elementary school and one parent is always home when the children are not in school. Wanda and Cliff consider their business successful because they are able to support their family. What worries them, however, is how they will be able to afford for their children to attend college.

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Do you think Wanda and Cliff should try and expand their business in order to earn money for their children’s education? If so, how should they do that? If not, what should they do in order to afford college tuition when the time comes?