Personal Finance
Personal Finance
October 1, 2012
Personal Finance Basics and Time Value of Money
This chapter has helped me to understand how important money and financial planning is to my present and future well being. I learned and realized just through the definition of the word personal financial planning that it means how we can map out our money and manage it better in given time frames. Managing your money is key and fundamental to your future stability and happiness. It can make your quality of living so much better if you know how to set goals for yourself and or your family. I think it is very important that all adults starting from eighteen should learn how to properly manage their money. The earlier we start off learning how to properly plan and manage our money the better off we would be as a society. The debt ceiling would be lowered tremendously and people would be far less stressed out. Financial planning needs to be used for simple to complex times in one’s life. Like going on vacation, going to school, going out for dinner, entertainment and savings etc. People should take financial basics to help them achieve their goals in life no matter short or long term. Time Value of money is a great tool needed to help people gauge when they should use, save or invest their money. I have gained so much knowledge and information from reading this chapter and I hope to explain thoroughly the process of personal financial planning and the time value of money. In this paper, I will explain the financial planning process, types of financial goals, influences on personal financial planning, opportunity costs and the time value of money, and achieving financial goals.
The financial planning process includes the idea of having a comprehensive financial plan. It means that I can increase how I get, use and save my money. I will be able to control my money by not going into debt or depending on others for it. I 'll be able to have healthier relationships with my spouse,
October 1, 2012
Personal Finance Basics and Time Value of Money
This chapter has helped me to understand how important money and financial planning is to my present and future well being. I learned and realized just through the definition of the word personal financial planning that it means how we can map out our money and manage it better in given time frames. Managing your money is key and fundamental to your future stability and happiness. It can make your quality of living so much better if you know how to set goals for yourself and or your family. I think it is very important that all adults starting from eighteen should learn how to properly manage their money. The earlier we start off learning how to properly plan and manage our money the better off we would be as a society. The debt ceiling would be lowered tremendously and people would be far less stressed out. Financial planning needs to be used for simple to complex times in one’s life. Like going on vacation, going to school, going out for dinner, entertainment and savings etc. People should take financial basics to help them achieve their goals in life no matter short or long term. Time Value of money is a great tool needed to help people gauge when they should use, save or invest their money. I have gained so much knowledge and information from reading this chapter and I hope to explain thoroughly the process of personal financial planning and the time value of money. In this paper, I will explain the financial planning process, types of financial goals, influences on personal financial planning, opportunity costs and the time value of money, and achieving financial goals.
The financial planning process includes the idea of having a comprehensive financial plan. It means that I can increase how I get, use and save my money. I will be able to control my money by not going into debt or depending on others for it. I 'll be able to have healthier relationships with my spouse,
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