Personal Financial Decisions
Develop Personal Financial Goals
Influences/Economic Factors
Influences/ Economic Conditions
Opportunity Cost
100
arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals
What is personal financial planning?
100
Time frame one year or less
What are short term goals
100
Consider college, marriage, children
What are life situations?
100
The prices of orange juice just rose to $4.50 a gallon
What are consumer prices?
100
Earning interest on original principal only
What is simple interest?
200
The things one wants to accomplish
What are goals?
200
Joanne is a hair dresser
What is a service
200
Consider your values and personal freedom
What are personal situations?
200
Create and maintain jobs
What is consuming spending?
200
Jane has invested $5,000 what will it be worth in 10 years
What is future value?
300
increased effectiveness in managing financial resources ,debt avoidance, improved personal relationships, sense of financial freedom
What are benefits of planning?
300
Jean buys food, shampoo and paper towels every week when food shopping
What is a consumable good?
300
Joshua wanted to buy the new X-box, they were sold out
What are market forces?
300
Ellen borrowed $5,000 had to pay back $5,500
What are interest rates?
300
George needs $1,000 in 2 yrs, what will have to invest now
What is present value?
400
savings, income, expenses, debts
What is Determine your current financial situation?
400
When financial planning consider your health, free time and family
What intangible goods?
400
USA imports more than they export
What are global influences?
400
The new X-Box immediately sold out, Joe bought one on E-Bay for twice the price
What is supply and demand?
400
Lee will be receiving $100 a month to invest for the next 5 yrs from his grandmother for college
What is an annuity?
500
think about your financial goals, needs, wants, values
What are Develop your financial goals?
500
Be realistic, be specific, clear time frame and know what type of action to take
What are Tips for Setting Your Financial Goals
500
Melissa went to use the ATM and the fee had been increased to $4.00
What is Financial Institutions?
500
The USA imports more than they export
What are global influences?
500
Jose's investment earns interest on principal plus previous earned interest
What is compounded interest?
M
e
n
u