Personal Finance

1. If you are borrowing money and paying interest, would you prefer an interest rate that compounds annually, quarterly, or daily? Why? (2-4 sentences. 1.0 points)

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.

1. Describe a real or made up but realistic situation that could cause you or someone you know to have to use money from a financial reserve. (3-6 sentences. 2.0 points)

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.

Future initiatives with financial education can change the landscape of an individual’s life and the economy in which we live. If there is limited focus on learning about personal finances we continue to set our economy up for constant failure. There is a substantial amounts of education provided to school age children that does not directly impact their financial education for their future. In high school individuals learn

It is no secret that the financial system in The United States of America is incredibly complex and difficult to fully understand. As more and more people go into debt each year, it becomes clear that every American needs some help when it comes to financial literacy. However, the implementation of a financial literacy course is not a good solution. A course in financial literacy would end up being a waste of time and money because the class would cost the school board a large sum of money that it already does not have, and the students would not actually acquire much benefit from the class. Schools are getting less funding from the government every year and most school budget are pushed to their max.

Within the book, Get a Financial Life: Personal Finance in Your Twenties and Thirties, author Beth Kobliner provides plentiful knowledge to help with financial literacy. Kobliner, a journalist, author, and personal finance expert has set this book up to answer a variety of questions that aid in a better understanding of one’s financial affairs. The questions divided into different chapters cover specific financial choices and problems people are faced with. Unquestionably, this book is useful to incoming college students, because it details how to set financial goals, manage debt, banking tools, insurance advice, and how to get the most from taxes.

This statement is rather shocking but proves why high school students should be taught financial literacy. Financial literacy is the ability of learning how to manage money. Financial literacy should be taught because, more people have been going bankrupt at a younger age, they have more debt options, and lastly are unable to manage money because they have never been taught. This is not just a problem for an individual, but potentially a huge problem in this country’s future.

GASB requirements are interest-earning investment contracts, external investment pools, open-end mutual funds, debt securities, and equity securities that have readily determinable fair values to be reported in the balance sheet at fair value.

Once she starts working full-timely, she invests in the shares, managed funds and bonds. The returns and savings would be helpful in accumulating capital before she buys the property after worked for 5 years.

budget through establishing the a summary of my likely incomes and expenses over various periods, to determine personal goals, priorities and supporting behaviors to manage and monitor spending as well as adjusting and continuously redefining goals and expectations over these periods of time. Knowledge of the components of a comprehensive, operating and capital budget is essential in giving the full picture and control of my personal finance saving me the stress of suddenly adjusting to lack of funds. A Cash budget will be effective to manage and monitor the cash flow on a daily basis enabling me to take consideration of expected and unexpected costs. Effective monitoring of income and expenses would help in reducing the adverse effects of

Organizations have different definitions of what financial literacy means. The National Financial Educators Council (NFEC) defines it as: “Possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family, and global community needs.”("NFEC," 1) While the United States Government Accountability Office (GAO) goes further and defines financial literacy as: “the ability to make informed judgments and to take effective actions regarding current and future use and management of money. It includes the ability to understand financial choices, plan for the future, spend wisely, and manage the challenges associated with life events such as a job loss, saving for retirement, or paying for a child’s education.”(Financial Literacy and Education Commission) The Jump$tart Coalition for Personal Financial Literacy expounds financial literacy

When were young, the only thing that runs to our mind is being rich in were them we can buy our dream house and dream car. However, before one can even take that last step,there is more than just wasting money. During this marking period I gone through more into depth on on what financial literacy is all about when it comes to the real world. To me financial literacy is being to understand how to earn, invest, protect and save their money in the correct way. In the real world . It is easy to spend money left and right when there are various things that catches on attention. With money one needs to make good decisions and take responsibility. Just because you have a good amount of money saved in your bank account, it doesn’t mean that it should

In this paper I will talk about some of the things that I have learned about personal finance. When I think of personal finance I think about budgeting, how to have a big retirement, and how and why it is important to have insurance. These three things to me are some very easy things you can do to help yourself with your personal finances. They are all linked together because if you budget then you will have money for insurance and to invest so that you will end up with a big retirement. I will let you know a little about each and how you can take simple steps in going on the right financial path.

helps a person to manage his personal finances and also to describe the three products of