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One Last Pedicure: Balancing a Personal ...

Eades, Kenneth M.,...

Case

One Last Pedicure: Balancing a Personal Budget

Eades, Kenneth M.; Sinclair, Safiya; Fairchild, Gregory B.

F-1889 | Published August 6, 2019 | 12 pages Case

Collection: Darden School of Business

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This case follows dance instructor Jackie McKenzie as she struggles to properly budget her expenses needed to support life with her youngest daughter, Millie. At the checkout aisle of her local grocery store, McKenzie becomes embarrassed when she discovers she cannot afford the $150 bill. Luxury purchases such as a red dress and McKenzie’s bimonthly pedicures have maxed her credit card and strained her checking and savings accounts. Unfortunately, this is not the first time McKenzie has overspent her means. When McKenzie calls her oldest daughter, Kerry, to ask yet again for her financial help, Kerry challenges her mother to put together a budget.

This case is designed to be taught in a financial literacy course for non-MBA audiences. The expectation is that the instructor will use the case as an introduction to several concepts that will be explored in further depth throughout the program: - The importance of financial analysis as a tool to simplify complex problems - The benefits of budgeting and financial planning - The benefits of maintaining a strong credit score