HECOL321 Chapter Notes - Chapter 2: List Of Fables Characters, Direct Deposit, Safe Deposit Box
5 Apr 2014
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Document Summary
Money management: day-to-day financial activities necessary to manage current personal economic resources while working toward long-term financial security. Daily spending and saving decisions are at the centre of financial planning. Coordinate these decisions with your needs, goals and personal situation. Maintaining financial records and planning your spending are essential to success. Spending money reduces the amount you can save and invest. Saving and investing reduces the amount you can spend now. Using savings for purchases results in lost interest earnings - savings can"t be used for other purposes. Comparison shopping can save you money but uses up valuable time. Create a system for maintaining personal financial records. An organized system of financial records provides a basis for: Handling daily business affairs, including paying of bills on time. Determining available resources for current and future buying. Many records are kept permanently (birth certificates, wills) Property / investment records are kept for as long as you own the asset.
