Personal Finance: Paid The Money For Future Life Events

The process of transferring the cost of metal ores and other minerals removed from the earth to an

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

My parents receive an earned income, meaning they work for it, unlike unearned income like child support and disability. My mom works as a Human Resources Director; she over sees all investigations in her facility and hires and fires people. My dad works as an Operations Sales Manager, so he over sees all of the different sales. They both have salary wages, so their income isn’t based on hours.

When you first asked me to invest your life savings into three areas of my choice, I was quite

v. Jessie has no spouse and can't be claimed as a dependent by someone else.

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.

According to our class text (Siegel and Yacht (2009)), we know that “personal finance is the process of paying for or financing a life and a way of living.” That said, we also know that using accounting principles to manage our personal finances will likely yield great success in one’s tracking and planning, financially, in the long run.

(5 points) In a world with no frictions (i.e., taxes, etc.), having debt is always better because it increases the value of the firm/projet.

While taking the personal finance course this past spring, I learned many valuable lessons that will greatly assist me throughout my life. One lesson I learned is the importance of paying yourself first. To put this into action, I will save money in an emergency fund to have enough money to live comfortably for 3 to 6 months, in case of emergency. Furthermore, this course has taught me the importance of budgeting. Using budgeting, I will make a plan for my money, so I can avoid over drafting and bouncing checks. Another lesson personal finance taught me is to pay all bills and loans on time to develop a good FICO credit score, which is what companies use to evaluate the risk of loaning to an individual. Knowing this information will help me

Figuring out where you will be financially years from now is hard to imagine. There are always what you plan, and then there’s things that just happen that you would usually rather not have of. You can always make goals and things and hope that things go alright and end up close to what you expected.

in Accounting and Finance. I do not have a part time job and do not plan to work until I graduate. I currently have taken out student loans to support myself through the rest of my college education. My parents pay for insurance payments for my car, cover my phone bill, and provide me with medical insurance. I pay for all the rest of my expenses, including rent, food, gas, and all other daily expenses. I currently have no investments and no substantial assets with a value of over $1000. I graduate in May and have signed a contract with KPMG to start work as an auditor in August after I complete the CPA. I

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

Have you ever invested money in stocks or maybe received savings bonds as a gift? Those are just two different types of investments that could potentially help with future money plans. It is very smart to start investing money or looking at other ways to invest at a young age to prepare for the future. There are many different types of investments that individuals can use to achieve future savings and investment goals. According to www.fool.com, If you were to invest one hundred dollars as a fifteen-year-old young adult and then receive a ten percent investment rate every year on that initial investment, at the age of sixty-five years old you would turn that one hundred dollars into $1,083. Investing your money rather than saving or spending it is smarter and can help you with your future plans.

Saving and planning for the future is an important task that every individual should plan for. However, many times individuals feel overwhelmed and are anxious about how it is possible to survive and plan for the future. The Bible gives us good insight into how we should plan and manage our finances that pleases the Lord. 2 Corinthians 9:6 states “[w]hoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously” (ESV). It is possible to save for the future while at the same time pleasing the Lord.

What would you say to a person who told you that you could retire at age 30, never have to work again, and still live a comfortable life, all on a normal salary and without winning the lottery?