The previous offers a road-map as to how this family with a recent income/debt crisis could completely remodel their financial future without sacrificing their current standard of living. With additional counseling and dedication on their part, the outcome could be even more appealing. But sacrifice is a subject that needs a great deal of discussion and commitment.
Maria and Joseph took many years to create the financial situation they found themselves in, and as shown, it will take several more years to prepare for a secure future. Simply going back to their old consumption patterns would make the illustrated scenario impossible to achieve, so it is hoped that they will see the benefits of being debt free and be able to build a substantial net worth for the future. All the raw materials are in place, and the required behaviors have been outlined, so it is entirely up to them as to what future they create for themselves and their daughter.
The FPA of Virginia Commonwealth University (VCU) team consisted of Ramzy Ismail, outgoing president of the FPA VCU chapter and 2011 graduate; Soraya Harris, incoming president of the FPA VCU chapter and rising Junior; Krystal White, incoming Treasurer and rising Junior; Lee Gibson, a rising Senior and Joseph Stemmle, a rising Junior. Their Faculty Advisor was FPA member John McFarland, CFP®, member of the clinical faculty at VCU and the Program Director for their academic CFP® program.