ECON 1005 Lecture Notes - Lecture 3: Personal Finance, Financial Plan, Financial Statement
Document Summary
As a social worker we need to be knowledgeable to help someone to budget or write a. Your values affects what you spend money on. It will determine what your budget will be. A - agreed upon, attainable, achievable, acceptable, action-oriented. Describe the relationship between education and income why it pays to stay in school. The higher degree the more likely it is that your income will be increased. Inflation, interest, and global economics, marital status, employment situation, age, and. Safety deposit box- birth certificate, marriage license, death certificates, list of savings. Easy to access important records, there is not an unnecessary amount of papers. Cpi- the average change in the prices urban consumers pay for a fixed basket of goods. Waste basket- receipts for nontaxable purchases, expired warranties. List and explain the steps in developing and using a spending plan/budget: describe the difference between fixed, variable and occasional expenses.
