CDAE 158 Lecture Notes - Lecture 7: Wealth Management, Payment Service Provider, Popular Alternative
18 Sep 2018
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Buying groceries, paying the rent, and completing other routine spending activities require a cash management plan. Cash, check, credit card, debit card, and online/mobile transfer are the most common payment choices. When you need more cash than you have available, you either liquidate savings or borrow. Using savings or borrowing reduces you net worth. Cash availability and payment services demand deposits, checking accounts and other payment methods. Borrowing for the short term or long term. Investments and other financial services insurance, investment, real estate purchases, tax assistance, and financial planning. Trust a legal agreement that provides for the management and control of assets by one party for the benefit of another. Commonly created through a commercial bank or a lawyer. Parents who want to set aside certain funds for their children"s education may use a trust. Asset management account also called a cash management account or a wealth management account. All purpose account offered by investment brokers and financial institutions.
