BU233 Chapter Notes - Chapter 1: Savings Account, Life Insurance, Money Market Account
Document Summary
Personal financial planning: process of managing/controlling your money to achieve personal economic satisfaction, financial activity must be carefully planned to meet specific needs and goals. Increased effectiveness in obtaining, using and protecting your financial resources. Increased control of financial affairs by avoiding debt, bankruptcy and dependence on others. Improved personal relationships from well-planned and communicated financial decisions. A sense of freedom from financial worries by anticipating expenses and looking to the future. Regards income, savings, living expenses, and debts prepare a list. Step 1 example: kent will complete his undergraduate studies with a major in international studies. Has a small savings fund () and more than in student loans. Believe it is wrong to borrow in order to purchase consumer goods so you only shop for clothes once you save the money (cid:894)(cid:449)o(cid:374)"t use a (cid:272)redit (cid:272)ard (cid:271)/(cid:272) you do(cid:374)"t ha(cid:448)e Be aware of your attitude toward money: ex.
