3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points)…
Summary of If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending It Right by Dunn, Gilbert, and Wilson…
3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points) To have enough money by the time I’m forty to retire and live a comfortable life. It’s important to me because that’s how I would like to live. Three things I could do to reach that goal are get rich, stay rich and don’t go broke.…
The purpose of this assignment is to: enable learners to 1) know ways to manage personal finance 2) know common financial products and services 3) be able to produce a personal budget that takes account of personal remuneration…
3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points)…
6. People have different styles when it comes to handling their money. List two different things that affect your personal beliefs and opinions about financial planning. How well money? Can you spot areas for improvement in your money management style, and if so, where/ how? Personally with me money doesn’t come easy so when I get it I have to save it not just spend it. I am not a person that will usually blow a lot of money. I am the type that will try to invest my money just as long as I know that whatever I invest in is real and not a scam I like checking the internet for ways of investing my money such as stocks and bonds. I can spot ways of improving my money all the time. I have trackers and online notifications that give me all kinds of ideals of managing my money and ways of earning more I recommend everyone to familiarize themselves with the resources of the internet.…
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.…
Two things that will affect your personal beliefs and opinions about financial planning are stepping back and looking at where you are in…
3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points)…
3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points)…
From all of the lessons Chilton’s book teaches, one financial planning tool I learned about is called the ten percent solution strategy. “Wealth beyond your wildest dreams is possible if you learn the golden secret: Invest ten percent of all you make for long term growth,” writes Chilton in chapter four of “The Wealthy Barber”. It is recommended that this strategy is set up by automatically having ten percent deducted from your earnings and invested in a form of growth savings such as mutual funds or real estate. By automatically transferring funds and ‘paying yourself first’, it is suggested that you do not begin to miss ten percent of your pay when you begin this program but rather do not notice the difference after a few months of committing to this strategy. As Chilton shares, the ten percent solution strategy can ensure future financial comfort as it transforms small amounts of money into substantial savings over an extended period of time. To describe the financial tool of investing ten percent, Chilton uses the tagline “pay yourself first”. By this, he reminds readers that the ten…
retire. People do not realize that the idea of living solely on the benefits of…
In chapter one, Dave Ramsey covers a lot of material. Mainly highlighting good saving habits and what to do with your money. By introducing the baby steps, Ramsey allows his viewers to set a plan for their money. Step one, putting 500- 1,000 dollars in an emergency fund (depending on their outcome). Step two, pay off all debt. Step three, three to six months expenses in savings. Step 4, invest 15% of household income to IRA and pre-tax retirement. Step 5, college funding. Step 6; pay off your home early. The final chapter 7, builds wealth and give.…
This book touches on the fundamentals of personal finance and reminds us of the simplicity and discipline that have proven successful…
13.1 Compound Interest • Simple interest – interest is paid only on the principal • Compound interest – interest is paid on both principal and interest, compounded at regular intervals • Example: a $1000 principal paying 10% simple interest after 3 years pays .1 3 $1000 = $300 If interest is compounded annually, it pays .1 $1000 = $100 the first year, .1 $1100 =…