Professional Documents
Culture Documents
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2. Develop plans
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2. Develop plans
3. Implement plans 4. Develop budgets FINANCIAL ACTIONS Basic asset decisions Credit decisions Insurance decisions Investment decisions Retirement and estate decisions
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2. Develop plans
3. Implement plans 4. Develop budgets FINANCIAL ACTIONS Basic asset decisions Credit decisions Insurance decisions Investment decisions Retirement and estate decisions
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Money:
Used as a medium of exchange. Financial goals are stated in dollar amounts. Need to consider utility, or amount of satisfaction derived from purchases, as well as cost. May be closely linked to personal psychological concepts. May play key role in personal relationships.
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Benefit of planning:
Your money works more efficiently for you by...
Utilizing the financial wonder The power of compounding through time!
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30
40
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45,259
21,725
30
40
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Track investments
Analyze needs
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Money payments of wages, rents interest, and profit
BUSINESS
GOVERNMENT
CONSUMERS
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Money payments of wages, rents interest, and profit Land, labor, and financial capital
BUSINESS
GOVERNMENT
CONSUMERS
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Money payments of wages, rents interest, and profit Land, labor, and financial capital Public goods & services, regulations, and revenues
BUSINESS
GOVERNMENT
CONSUMERS
Taxes Goods and services Money payments for goods and services
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Government policy decisions are used to regulate the economy in an effort to: Provide economic stability Maintain acceptable employment levels
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Monetary Policy
Controls money supply
Fiscal Policy
Controls levels of taxation
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Inflation
Measured by changes in CPI Affects purchasing power and interest rates Affects financial plans and goals
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Economic Cycles
Levels of Employment and Production HIGH
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2. 3. 4.
The life work one selects is a key to financial well being and personal satisfaction Career choices have risks and opportunity costs Career choices need to be evaluated periodically Changing personal and social factors require continuous assessments of your work situation
THE END!