CDAE 158 Study Guide - Fall 2018, Comprehensive Midterm Notes - Credit Card, Income Tax, United States Dollar

• School: University of Vermont
• Department: Cmty Dev & Apld Econ
• Course: CDAE 158
• Professor: Fritz

Document Summary

Personal finance basics and the time value of money. Analyze the process for making personal finance decisions. Personal financial planning the process of managing your money to achieve personal economic satisfaction. Increased effectiveness in obtaining, using, and protecting financial resources. Increased control of one"s financial affairs by avoiding excessive debt, bankruptcy, and dependence on others. Improved personal relationships: sense of freedom from financial worries. The financial planning process: determine current financial situation. Prepare a list of current asset and debt balances and amounts spent for various items. Match financial goals to current income and potential earning power: develop your financial goals. Identify feelings about money and the reasons for those feelings. Determine your source of your feelings about money (facts or influence of others). Determine the basis of your financial priorities (social pressures, household needs, or desires). Determine the effects of the economy on your goals and priorities. Decide on specific financial goals to pursue for your situation.