The Personal Finance Class Through Dame Ramsey 's Foundations Essay

Despite the importance of finance, accounting, and consumer intelligence, these topics are typically neglected in high schools. Unfortunately, personal finance is often learned by trial and error. The problem with this method of learning is that it only takes one costly financial mishap to set you back for years. This is why I created a basic personal finance book for total beginners. With these concepts you can use the other books in the Smart Money series to further build your knowledge of personal finance topics.

The author of this book, Dave Ramsey, is a man who has gone through many struggles in his life. Throughout his book he talks about the times when he went bankrupt and couldn’t provide for his family. Dave Ramsey sat down and wrote a plan on how to be smart with your money. Ramsey says, “The principles are not mine. I stole them all from God and your grandmother” (xi). He talks about how these are not new ideas and that these are not theories because they are proven to work every single time. The central concept of this book is to help people succeed in life with money but also their personal relationships. Ramsey wants to give people hope and happiness by playing a small role in their financial freedom.

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

In this society, some of the most important things in your life have to deal with money. In Chad Foster’s book, Financial Literacy for Teens, he taught his readers how to save, spend, invest and give away your money. Reading this book has taught me to start saving when I’m young, know the differences of what I need to buy rather than what I want, to make money while I sleep and giving away some of your money will not only help yourself, but help many others as well.

* 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.

- Have at least 5-7 years experience with working as a commercial insurance underwriter, banker, or claims adjustment.

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.

So often we hear about teaching the whole child. Today, more than ever, personal finance knowledge and awareness are a critical part of what it means to teach the whole child.

Finish your discussion with your thoughts on how this information affects you personally including any insights you had about yourself and the stress that you experience. I believe that for everyone money is a big stressor, so I feel like it was a great chapter that I took a lot away from. I really enjoyed this lesson because of all the tips it gave me to start managing my money better. I think the great think about this chapter is that it is a good reminder for everyone, no matter if there young, old, rich, or poor; all the points made in this chapter are things we all need to keep in mind when thinking about money. My favorite thing is this whole chapter was David Ramsey’s comment about contentment. I think he was completely right when he said that the most important financial principle is contentment. While I think most people know more money and stuff will not make them happy, I know for me personally, contentment is one of the hardest things to master. So it was a good reminder for me and made me think a lot about the silly things I am spending money on that really are unneeded. This chapter gave lots of tips that I will be using throughout my life to help manage my money and reduce my

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

Ehrhardt, M.C. & Brigham, E.F. (2011). Financial Management: Theory and Practice, Ed 13. Ohio: South-Western Cengage Learning.

Merriam-Webster Dictionary defined Philosophy as a set of ideas about how to do something or how to live. Therefore, each person’s philosophy is a major factor in how their personal finance works out since the knowledge of facts, concepts, and principles will determine how people spend, save, and invest their financial resources. Dr. E Thomas Garman is a renowned advisor and academic. Garman is the author of 30 books and 200 research articles in personal finance and consumer economics. Raymond E. Forgue professor at the University of Kentucky, they stated, “You have to do only a few things right in personal finance during your lifetime, as long as you do not do too many things wrong.”(Garman and Forgue 5) Clearly, many people are in the dark when it comes to personal finance, their financial IQ is very limited. If only a few money principles done right is all people need to succeed financially; evidently, they are missing some fundamental information. Sadly, some people do not recognize this reality which is the

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

Brigham, Eugene F., and Joel F. Houston. Fundamentals of Financial Management. Thomson: South-Western Publishers, Eleventh Ed. 2007.

The present climate surrounding financial education remains a nebulous subject. Often times the best and most recommended financial