MIS 111 Lecture Notes - Lecture 16: Cash Flow, Financial Literacy, Risk Management

• School: University of Arizona
• Department: Management Info Systems Main
• Course: MIS 111
• Professor: ALL

Document Summary

Financial literacy the ability to effectively evaluate and manage one"s finances in order to make prudent decisions toward reaching life"s goals and to have an understanding of money, Key areas of personal finance: money & income, spending & debt, savings & investments, 1. avoid running out of money by tracking your expenses. 3. debt is not your friend, don"t run up anymore debt than you absolutely have to. 4. if money is tight, get a part time job. Accounting includes keeping track of budgets, accounts, taxes, etc. Finance involves managing earnings, savings, debt, setting goals, etc. Both are important, and are best when used together. Short term 1 to 6 months. Medium term 2 to 5 years.