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BA107 Personal Finance Shelby Johnson Career Decision Case Questions 1-3

Updated: Aug 19, 2022

Personal Finance


BA107 Personal Finance Shelby Johnson Career Decision Case Questions 1-3


Although I believe Shelby has the right idea, there are negatives and positives to her situation. Shelby wants to own her own pet business one day so she feels she can accomplish the experience she needs at her current low paying job. At times, Shelby is barely making ends meet so she uses her credit cards for her everyday living expenses. This is not good.


When Shelby finally decides to open her own business, if she keeps this up, she will have a tremendous amount of credit card debt which will put her in another struggling situation when she does finally decide to open her own pet business. It’s hard enough starting a business with all the time and money needed to build it. It would be stressing to know that you would have on top of that, repayment of all the credit card debt. Depending on her situation at the time she finally decides to open her own business, she may have too much credit card debt, a poor history of repayment, etc. which may hinder her dreams of opening her own business.


The positive to what Shelby is doing is that she is gaining experience and knowledge that would be beneficial in owning her own pet business. She communicated with customers and pets at her current job. This to me means she is building relationships.

When she finally decides to open her own business she has a possible start up clientele. As a pet owner myself, it would be awesome if I seek the services from a business, a company that has already built a relationship with my pet. It takes away the pet anxiety when and if I had to drop my pet off. Shelby is also becoming accustomed to how a day to day pet business is conducted. This also will give Shelby an insight into whether she truly wants to open her own pet business. She is gaining the knowledge she needs as far as daily tasks associated with owning a business such as business reports, computer experience, and verbal and written communication skills; all a plus whether you own your own business or not.


Depending on what timeframe Shelby is looking at opening her own pet salon, she could consider taking several avenues in the meantime so that she doesn’t have to pay her bills by creating more bills. She has already decided what she wants to do which is open her own pet salon. With all of the experience Shelby has gained so far, she can update her resume to achieve a higher paying position with the same company or another pet salon.

Often time’s people get so comfortable in their current job, they forget about growth. If she has to work for someone else while pursuing her dreams of owning her own business, why not get paid what she is worth? Even if the company she is currently working for has notposted a new job opening, it wouldn’t hurt to sit down with her supervisor to discuss career growth opportunities with the company or even a raise. Shelby also needs to research other pet salons in the area or where she decides to open her business and see what wages they

are paying for skill set she has. She needs to factor this in with the cost of living in that particular area as well. Sometimes people don’t fail to realize that although you have received a raise or higher paying job, when you factor in a boost in living experiences due to economic data, you are I the same boat you started in where you are not seeing a boost in the ability to save more money and keep debt down.


Shelby also needs to also realize she would need certain liability and medical insurance, and develop an operating expense if she chooses to open her own business. All of which must also be factored into her personal expenses and costs of living. To ensure her first business is successful she needs to develop the right mind set now. Paying her current bills with a credit card which creates more debt and is not a good idea. Depending on when she wants to open her business, in the meantime she should be updating her resume,

researching the career field further, and constantly seeking career growth.


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