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Family Finance

A comprehensive guide to making financial decisions for your family, covering topics such as buying vs. creating home products, child care options, car choices, and more. Includes case studies and practical tips for managing family finances effectively.

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Family Finance

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  1. Family Finance

  2. E-mail: erasmus.MICHALSKI@gmail.com www: HTTP://MICHALSKIG.UE.WROC.PL/ Mobile: 48.503452860 5 meetings + 1 exam (test) Next meeting: 18th March. Douglas A., E. Lewin, Family Finance, Dearborn Trade 2001. Millar R., A Complete Guide to Family Finance, Kogan Page Publishers 2004. Israelsen C. L. , R. O. Weagley, Personal & Family Finance Workbook, Kendall Hunt Pub 2006. Family Finance

  3. Family Finance cases: • Create himself or buy? (home products, home food or in restaurants, who should repair a tap, husband or plumber (tap expert), hire a maid? etc. • Child in home or in kindergarden? • (Homeschooling) Child in home or in school? • Car: buy older but without the credit or a new but with credit? • How many cars in a family? • House or a flat? Why? • A garden or a free time with fruits from a hipermarket? • What kind of car? Which one?

  4. Car: buy older but withoutthe credit or a new but with credit? • SEAT Alhambra II / Volkswagen Sharan II / Fiat Croma/ Alfa Romeo 159 / Opel Vectra C / Saab 9-3 (or similar car). You plan to change car in every 6 years. In every year, car is used for 25oookm distance and for 150ooo km distance during 6 years. • You have only 5ooo Euros. What do you prefer: New car (24ooo) or 4 year used one (76oo). • Insurance: 3.5% for a new or 8% for an old. Your car value is in every year smaler, and go down 25%. • Services (264 euros) for every 30oookm with the new or (428 euros) for Older for every 10ooo. • Repair one time in every year (100 euros) for a new one, and (440 euros) for every 15ooo km for an old one. • Cost of emergency transport is 0 for new and 300 euros for every 40ooo for old one. • Old car uses 2 dec3 of oil per every 100km more than a new one. Oil will costs 1,3 euro per 1 dec3 • After 6 years, you sell car for average value (15% less than value of your startup investment). • Cost od debt = kd = 18%; cost of equity = ke = 4.6% * (1-Tb) (remember about BELKA TAX! Tb = Belka Tax Rate)

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