文档介绍:Chapter 1
Personal Financial
Planning in Action
Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
McGraw-Hill/Irwin
Personal Financial Planning Objectives
Identify social and economic influences on personal financial goals and decisions
Develop personal financial goals
Assess personal and financial opportunity costs associated with financial decisions
Implement a plan for these decisions
1-2
Financial Planning
Process of managing your money to achieve personal economic satisfaction
Financial Plan:
Formalized report
Summarizes current financial situation
Analyzes financial needs
Recommends future financial activities
1-3
Advantages of Financial Planning
Increased effectiveness in obtaining, using, and protecting financial resources
Increased control of your financial affairs
Improved personal relationships
Sense of freedom from financial worries
1-4
Life situation and personal values
Financial planning in our economy
Domestic economic influences
Global Influences
Inflation
Interest rates
Objective 1Identify Social and Economic Influences on Personal Financial Goals and Decisions
1-5
Life Situation and Personal Values
Adult life cycle
Life Situation Factors:
Marital status, household size, employment
Exhibit 1-1 (page 5)
Major events:
Graduation, marriage, divorce
Birth or adoption of child
Career or health changes
Values:
The ideas and principles you consider correct, desirable, and important
1-6
Financial Planning in Our EconomyDomestic Influences
Economy’s influence on financial planning
Business, labor & government
T