Family study Assignment Example | Topics and Well Written Essays - 500 words

Family study - Assignment Example its, with the Indians and Mexican Americans (Hispanics) being categorized as closely-knight families emanates from their traditional socio-political and economic conditions. The Africans had to live together as large family units, to be able to fend for themselves, since the status of slaves did not offer opportunities for venturing into prime economic generation ventures (Newman, 2007). The Mexican and the Indian Americans had to form tightly-knight together families, due to the need to establish identity either as acquired/immigrant group or as the invaded group, respectively. This traditional social construct of minority families define the structure of these families to present day. Focusing on race and ethnicity in defining the structure of minority families is woefully misleading, since there is no set of shared physical characteristics that tie people together (Newman, 2007). The attempt to understand families should be based on the similarities that exist across ethno-racial and religious groups, since focusing on differences results in emphasizing the boundaries distinguishing the members from non-members (Newman, 2007). Additionally, focusing on the differences results in the analysis of belonging to a certain group is something to be proud or ashamed of, instead of focusing on the cultural uniqueness of the different groups (Newman, 2007). This results in a negative social construction. Assimilation should therefore be the aspired mode of defining the future American society. Nevertheless, ever reaching a point of where racial and ethnic categorizations are irrelevant does not seem a possibility. Growing in an interracial or interfaith family has the advantage of helping to break the racial stereotypes held by different races against one another. However, the major disadvantage associated with growing up in an interracial or interfaith family is the difficulty of building a self-identity (Newman, 2007). This is owing to the fact that self-identities

Personal Finance Case- develop a solution a road map advice for the Case Study

Personal Finance - develop a solution a road map advice for the families - Case Study Example Their credit card debt is an indication that Bruce and Faith are living beyond their means. This is supported by the fact that they do not have any cash savings with them. It is important for this couple to save at least ten percent of their earnings and hold it in liquid cash so that it can cover any emergencies since their assets cannot be easily liquidated. Bruce and Faith should consider travelling to shorter destinations and drop their plans for a new car that they are to planning to buy. This will assist them save money to pay their mortgage and meet the expenses that come as a result of late parenthood. They can also consider cutting their expenditure for their daughter’s wedding by half and use that money to increase their bank savings. This will increase their net worth. The couple should also consider using both their employer’s health covers, take up disability insurance cover and have a retirement account. This will reduce their taxable income. If the couple gets the one hundred and fifty thousand dollar inheritance from Faith’s father, they should use it to clear their mortgage and other debts. The remaining amount should be put in long term investment to increase their net worth. An overview of Peggy Brie’s case shows that though widowed at an age that is eight years below the average widow age, she can meet her financial obligations without too much struggle. Her strategy should be to use the amounts from her husband’s life insurance policy, IRA and inheritance to clear her debts. This will result in an increased disposable income for her as almost half of her salary goes to paying debts. If she manages to do this, then her worries about how to maintain her house will be over as she will be able to live comfortably with her children. Brie should go ahead and use her husband’s life insurance policy funds to pay for her mortgages so that she can be able to use