RCSC 150B2 Chapter Notes - Chapter 3: Cash Flow Statement, Vending Machine, Cash Cash
27 Sep 2016
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Steps to understanding your current financial situation: keep a spending journal for at least a month, understand elements of personal financial statements, create a personal cash flow statement, software to help, www. mint. com, quicken. Liabilities: debts or obligations that you owe your liabilities (assets liabilities) Elements of personal financial statements: cash value (of life insurance): the amount of funds you receive if you. Liquidity: how quickly an asset can be turned into cash cancel your policy. Face value (of life insurance): the amount of money the beneficiary receives when you die. In 2007, the increase in the earning power of a college degree was about ,000 in today"s dollars. Tuesday, september 27, 2016: saving seems less daunting, to save ,000 a year you only have to save . 74/day. Creating a budget: record your income and when you receive it. List all your fixed expenses and when they are due (rent, utilities, phone, insurance, etc. )
