MCS 2100 Lecture Notes - Lecture 4: Quicken, Money Market Fund, Opportunity Cost

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 2100
• Professor: May Aung

Document Summary

Learning objectives (lo: analyze factors that affect selection and use of financial services, compare the types of financial institutions, compare the costs and benefits of various savings plans. 4: compare the costs and benefits of different types of chequing accounts. Identify the factors used to evaluate different savings plans. Financial services for short term needs: daily purchases, living expense payments, emergency fund, these include: Financial services for long term needs: major purchases, long-term financial security. Other services (insurance, tax preparation, estate planning) People desire ease, but must also consider fees and possibility to overspend. Two basic choices: liquidate savings, borrow. Savings account or mutual fund may be raided when you need funds. Bank overdraft or credit cash advance will supply cash quickly, but at a high cost. Most efficient way is a personal line of credit. Four main categories: savings, payment services, borrowing, other financial services.