Problem Solution Outline Example

Overnight Millionaire System

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Causes Problems (fill in as many as applicable) Effects

If we buy: monthly payment would decrease, so have more money to save or invest; also would have more privacy and quiet. If we continue to rent: won't have moving expenses; will pay more in rent, so have less money to save or invest; will continue to have little privacy and noisy neighbors

Possible Solutions

1. establish budget for home purchase, get pre-approved for mortgage, and go house hunting to see if we can find something in next two weeks within budget

2. remain in condo for another year while saving more money for a down payment -1-

Possible Outcomes

1. find suitable house, secure mortgage, purchase house, move in

2. live with noisy neighbors for one more year, have bigger down payment and more time to look for house rent is going up; neighbors are noisy ^

Who: me and my family

What: should we buy a house or continue to rent a - condominium? Where: hometown When: lease is up in two months

Why: possibly save money, build equity, improve quality of life

How: not applicable for problem

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