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Why People Invest To achieve financial goals, such as the purchase of a new car, a down payment on a home, or paying for a child’s education. To increase current income. To gain wealth and a feeling of financial security. To have funds available during retirement years.

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 635 | Lượt tải: 0

Primary Purpose of Life Insurance: Protect someone who depends on you from financial loss related to your death Reduces financial burdens of survivors Life insurance: Obtained by purchasing a policy The insurance company promises to pay a lump sum (death benefit) to a named beneficiary at the time of the policy holder’s death (or sometimes wh...

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 744 | Lượt tải: 0

Eases the financial burden people may experience as a result of illness or injury (pay a premium to transfer risk of loss) Medical expense insurance- pays actual medical costs Disability income insurance- provides replacement income Group and individual health insurance coverage available COBRA Requires many employers to offer employees and ...

27 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 721 | Lượt tải: 0

Insurance Protection against possible financial loss Provides peace of mind Insurance company (insurer) Risk-sharing firm that assumes financial responsibility for losses from an insured risk Procedure Purchase a policy known as coverage Insurance firm assumes a risk for a fee Insured policyholder pays a periodic premium

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Evaluating Renting and Buying Alternatives Your lifestyle and your choice of housing How you spend your time and money Every buying decision = lifestyle statement Personal preferences vs. financial factors Traditional financial guidelines: Spend no more than 25-30% of take-home pay on housing, or No more than 2 1/2 times your annual income ...

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 697 | Lượt tải: 0

Practical Purchasing Strategies Timing purchases Price variations by time of year (seasons) Store selection Location, price, selection, services Brand Comparison Private-label or store brands (sold by one chain) vs. national brands Label Information Open dating (shelf life of products)

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Covered so far Advantages and disadvantages of credit Types and sources of credit Credit capacity (how much you can afford) Credit reports and scores Still to cover The cost of credit Protecting your credit Consumer credit protection laws Debt problems and bankruptcy

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 612 | Lượt tải: 0

Objective 1 Analyze Advantages and Disadvantages of Using Consumer Credit Credit Based on trust in people’s ability and willingness to pay bills when due Consumer Credit Use of credit by individuals for personal needs, except a home mortgage Dates back to colonial times; exploded after invention of cars (installment loans; traveling) A majo...

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 633 | Lượt tải: 0

Meeting Daily Money Needs Routine spending activities require a cash management plan Payment options: cash, check, credit cards, and debit cards Common Mistakes: Overspending Insufficient liquid assets Using savings or borrowing to pay for current expenses Failing to put unneeded funds in an interest bearing or investment account

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 658 | Lượt tải: 0

Start planning for taxes . Know current tax laws as they affect you Maintain complete and appropriate tax records Make purchase and investment decisions that reduce tax liability Goal: Paying your fair share but still taking advantage of available tax benefits

24 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 627 | Lượt tải: 0