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Personal Financial Planning

Appendix C. Personal Financial Planning. The Credit Card Hustle. 50% of college graduates wish they had learned more in college about managing their finances. By the end of the first year of college, students are $1,500 in debt.

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Personal Financial Planning

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  1. Appendix C Personal Financial Planning

  2. The Credit Card Hustle • 50% of college graduates wish they had learned more in college about managing their finances. • By the end of the first year of college, students are $1,500 in debt. • Few students realize how much they are spending when they use credit cards.

  3. Personal Financial Management Achieve Goals Standard of Living Earn Save Spend Invest Control MONEY

  4. Importance of Personal Finance Personal Finance has become more important. • Sluggish growth in personal income • Changes in the labor market • More financial products/options

  5. Personal Financial Management Model • Maximizing Income and Wealth • Using Money More Effectively • Monitoring Expenditures

  6. Setting Personal Goals • Personal goals should reflect your values • Your goals should be influenced by your current financial situation • What is your net worth? • Prepare a budget based on your goals and your net worth • Establish financial goals based on your values and current financial situation

  7. Your Personal Finance Decisions • Career Choice • Basic Money Management • Credit Management • Tax Planning • Major Purchases • Insurance • Investment Planning

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