Money Management

* Create a budget- creating a budget will help you not spend more money than you have. Creating a budget will also help you stay out of debt.

This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property.

c. Smaller payments mean more time in debt. d. Your lower interest loans also get rolled into the deal so you end up with minimal savings.

When going off to college many students become unaware of how much they are spending, or how much things actually cost. Budgeting for necessary day to day items is hard to do when sometimes we forget our priorities, and forget the difference between what we may want and what we need. Managing is one of the hardest things to do as a college student because, before going to college many students do not really understand or realize how much certain items are and how much we actually use; such as: groceries, soaps, laundry detergent, etc. This is why money management and budget is many times hard for college students to

There is no doubt that financial hardships can add an unhealthy amount of stress to one’s family. This stress

The goal of this course is to get you thinking about personal finance issues at a point in your life when you still have time to benefit from the power of time in generating wealth to accomplish your other life goals. The financial decisions you make early in life with determine in great extent the quality of life you will enjoy later, especially given the turbulent and uncertain economic conditions. Money isn’t everything, but a lack of it will impact almost every aspect of your life and those who surround you.

1. Describe a few of the reasons why money is a leading source of stress for Americans. There are lots of different reason money can cause stress in one’s life, some of them being, paying for unexpected expenses, building savings, paying bills, paying college tuition, debt, saving for retirement, and even be able to have money for pay for basic needs.

“Keep a record of your expenditures. Record and review monthly income and expenses. Determine how to reduce what you spend for nonessentials….discipline yourself to live within your budget plan.”

Current is only one behavior that comes to mind that every person experiences at some point or another in his or her lives. Financial stress is a behavior that negatively affects a person’s mindset and only pushes the victim further down the spiral.   Some people have found ways to cope with stress while others struggle with it on a daily basis. There are several therapy theories that one can approach in order to deal with stress, but the tactic one will like to focus on is the cognitive behavioral therapy. In order to understand how one can accomplish this, one needs to

The emotional stress caused by overwhelming debt can have a devastating impact on the wellbeing and health of an individual. The body reacts to stress with a “fight-or-flight” response, releasing adrenaline and cortisol, major hormones associated with stress. In situations of persistent stress, the body adapts to adverse conditions by establishing a new state of equilibrium, and the elevated levels of these chemicals can cause significant physical harm to vital bodily systems such as blood pressure, heart rate, memory, mood, and immune functioning

Life as I know it is coming to an end. For the majority of my life my parents were generous and payed for my needs and wants, but now that they opened my eyes about paying for for my own needs and wants. This topic about finance is giving me a rude of awakening about how to budget our annual salary or yearly salary with paying for our wants and taking care of our needs. When we were little we thought that money grew on trees or came from magical wishing weld, but facing the truth where money really come from which is hard work and a good education.

I figured we'd start with something everyone SHOULD know, but many don't. Budgeting and not going into debt.

Establish your budget. Are you looking for an easy way to begin? On the first day of a new month, get a receipt for everything you purchase. Stack the receipts into categories like restaurants, groceries, and personal care. At the end of the month you will be able to clearly see where your money is going.

Personal budgeting is an important factor in regards to successful long term financial stability. Budgeting has many great aspects as well as showing areas of weakness. It can show the truth about your personal financial spending habits, areas that are not looked at enough, and if there are needs for a larger emergency fund. The reality of personal budgeting is that many people potentially do not keep a personal budget for one reason or another. People also don’t consider the negative effect that it could have on one personally and or how it effects the economy.

Money is a precious thing and it can become challenging to not spend it immediately after getting it. It is crucial that this does not happen. There is no denying that money is an important part of society. The world revolves around money and without it, one? would not be able to function. In everyday life the average household will spend one hundred and sixty dollars daily. It is safe to say that money is an resource used daily. It is a tool that can be used to connect with other people or buy anything a person could want or need. Yet it is easy to spend money without realizing how much is really being spent. With only a few simple tips it will become much easier to save money instead of spending it on frivolous things. One’s hard-earned dollar should be saved, and simple tips such as using cash instead of cards, saving small change and only purchasing what one really needs are a few of many ways of doing this. The power of money can easily be abused and it is very important to make sure that a person is well informed on ways to save and spend money wisely.