>>>>>>>> Appendix C Personal Financial Planning d r a C t i d e r C The e l t s u H • 50% of college graduates wish they had learned more in college about managing their finances • By the end of the first year of college, students are $1,500 in debt • Few students realize how much they are spending when they use credit cards l a n o s r e P l a i c n a Fin t n e m e Ma n a g Achieve Goals Standard of Living Earn Save Spend Invest Control MONEY f o e c n a t r o p m I e c n a n i F l a n o s Per Personal Finance has become more important Sluggish growth in personal income Changes in the labor market More financial products/options l a i c n a n i F l a Person t n e m e Manag Model • Maximizing Income and Wealth • Using Money More Effectively • Monitoring Expenditures l a n o s r e P g n i Sett Goals • Personal goals should reflect your values • Your goals should be influenced by your current financial situation – What is your net worth? • Prepare a budget based on your goals and your net worth • Establish financial goals based on your values and current financial situation l a n o s r e P r u Yo e c n a n i F s n o i s i Dec Career Choice Basic Money Management Credit Management Tax Planning Major Purchases Insurance Investment Planning