personal finance 5 - 1057 Words

1. If you are borrowing money and paying interest, would you prefer an interest rate that compounds annually, quarterly, or daily? Why? (2-4 sentences. 1.0 points) Annually would cost you less than quarterly. I would go what will cost the cheapest. 2. In your Section_5 folder, navigate to and open the Example_Credit_Report, and then answer the questions below. N/A a. What is the total balance of Jessie Robinson s real estate account? (0.5 points) N/A b. What is the total balance of Jessie Robinson s revolving account? (0.5 points) N/A c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points)N/A d. How many creditors have made inquiries about Jessie Robinson s credit? (0.5 points) N/A e. Do you think†¦show more content†¦Why? (3-6 sentences. 2.0 points) A Regions Personal Credit Card is a revolving line of credit that allows you to borrow funds to pay for goods and services you purchase, to get a cash advance, or to pay balances you owe to other creditors. You may use your Personal Credit Card for: †¢ Purchases †¢ Balance transfers †¢ Cash advances †¢ Overdraft protection, up to the amount available for cash advances under your credit limit, when linked to your Regions checking account †¢ A monthly statement will be sent with balance and payment information. †¢ You must pay at least the minimum payment by the payment due date to avoid late fees, to avoid the loss of any promotional rates and to keep your account in good standing. †¢ If you send a payment to the payment address on the statement and it is received by 5 p.m. local time, it will be credited to the account as of the day it is received, even if it is not posted on that date 12. Describe a real or made up but realistic example of a time when you might apply for a loan. (2-4 sentences. 1.0 points) When I apply for college. If I do not get approved for enough college scholarships, I will need to pay for college some how. 13. In your Section_5 folder, navigate to and open the Example_FAFSA. Complete the steps below to save a copy of the file with your initials in your Section_5 folder. TIP: The FAFSA is the Free Application for Federal Student Aid. This application is used by many students to get federal funding forShow MoreRelatedFp101 Week 1 Dq Answers1559 Words   |  7 PagesRefer to Figure 1-1 of Personal Finance. List the five steps in the personal financial planning process. Share one or two questions you may ask yourself when you are in Step 1.   According to Figure 1-1 of Personal Finance, the five steps in the personal financial planning process are: Step 1 – Analyze your current finances, Step 2 – Develop goals, Step 3 – Identify and evaluate strategies to achieve your goals, Step 4 – Establish and implement your plan, Step 5 – Reevaluate and reviseRead MoreTraditional Methods Of Managing Personal Income1641 Words   |  7 PagesThere are three traditional methods of managing personal income. 1. Budgeting, 2. Keeping a spending history, and 3. Doing nothing (also known as living from paycheck to paycheck). Budgeting involves setting what percent of future income is to be spent on which categories of expenses, and then recording all purchases in order to track how well spending is staying within the predefined limits. The process sounds very simple, however, it is difficult, in my opinion, to stick with a budget for veryRead MoreAssessment of Personal Financial Wellness of Teachers1115 Words   |  5 Pagesdaily cash inflows and outflows in personal finances will help make tough situations less stressful and easier to handle. Cash (1996) Among five risk stressors in life ( relationships, work, health , crime/violence, amp; personal finance), personal finance was rated as the number one source of stress, concerns about personal finance are five times higher than those regarding health. Garman et al (1996) research has indicated a relation between personal finance stress and backache, alcoholism,Read MorePersonal Financial Planning1579 Words   |  7 Pages | | |2011-2012 Academic Year | ADM 3445 (FR01B) Personal Financial Planning Course Outline Instructor: E. Otuteye Term: Winter 2012 Office: SH 362 Day(s): W Phone: 506 458-7354 Time: 7:00-9:50pm Email: otuteye@unb.ca Classroom: SH 161 Office hours: Th, F 2:00 – 3:00;Read MorePersonal Finance And Social Finance1196 Words   |  5 PagesPersonal Finance has always been an emotional topic in the United States. Today, many Americans are generating unlimited wealth and living exceptional lives, while others are struggling to make ends meet. Evidently, people’s actions and beliefs are the deciding factors in their achievement of wealth. So, this huge gap in wealth between rich and poor people has a special connection with the philosophy and attitude of each individual toward personal finance. Merriam-Webster Dictionary definedRead More Managing Personal Finances Essay787 Words   |  4 PagesManaging Personal Finances Managing personal finances is an important skill to acquire. However, no where in school is this subject taught. As a result of a lack of preparation, our society is subject to a high percentage of people who lack financial success. Those who are successful at managing their personal finances will find that they are successful in many other areas as well. To learn how to manage personal finances there are books and web sites that provide a step by step guide toRead MorePersonal Budgeting1059 Words   |  5 PagesPersonal Budget Summary and Findings ACC 547/Taxation Michael De Marco Personal Budget Summary and Findings Memo DATE: October 1, 2012 TO: Henry and Mary Jones FROM: RE: Follow-up on Financial Planning Meeting It was a pleasure to meet with both of you to discuss your personal finances, your financial dreams, and concerns. As we discussed, being in control of your personal finances, and not your finances being in control of you, is very important. When you are in control of yourRead MorePersonal Finance Of The United States1201 Words   |  5 PagesWealth and Personal Finance in the U.S. Personal Finance has always been an emotional topic in the United States. Today, many Americans are generating unlimited wealth and living exceptional lives, while others are struggling to make ends meet. Evidently, people’s actions and beliefs are the deciding factors in their achievement of wealth. So, this huge gap in wealth between rich and poor people has a special connection with the philosophy and attitude of each individual toward personal finance. Read MorePersonal Financial764 Words   |  4 PagesBUS 282 - Personal Finance Final Project – Creating a Personal Financial Plan Your final project will integrate what you have learned throughout the course into the core elements of a financial plan. Although not comprehensive, and in fact only the beginning of what should be a living document, this project will allow you time to organize and reflect on key areas of personal finances that you will need to address throughout your financial life cycle.    Assignment Requirements: * UsingRead MorePersonal Financial Goals And Objectives Essay1044 Words   |  5 Pagesnecessary when you are further from the set goal. When it comes to money, most individuals would love to manage their personal finances so that they achieve maximum satisfaction from each available currency. To achieve this goal, you must first identify the financial goals and set priorities. Personal financial planning is the process through which individual manages their finances to achieve maximum satisfaction. It does not matter if you are self-employed, highly paid executive or newly employed