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Tables of Contents for Personal Finance
Chapter/Section Title
Page #
Page Count
Preface
xvii
PART 1 Financial Planning
1
92
The Importance of Personal Finance
2
26
Why Study Personal Finance?
3
1
Five Lifetime Financial Objectives
4
2
Understanding the Economic Environment of Personal Finance
6
6
Economic Considerations That Affect Decision Making
12
6
Objectives and Steps to Successful Management of Personal Finances
18
2
How Work Decisions Affect Success in Personal Finance
20
8
Summary
25
1
Key Words and Concepts
25
1
Questions for Thought and Discussion
25
1
Decision-Making Cases
26
1
Financial Math Questions
26
1
Exploring the World Wide Web of Personal Finance
27
1
Financial Planning
28
27
The Components of Successful Financial Planning
29
3
Financial Statements
32
7
Financial Ratios
39
4
Financial Recordkeeping
43
2
Using Computer Software in Personal Financial Planning
45
1
What to Know about Professional Financial Planning
45
10
Summary
48
1
Key Words and Concepts
49
1
Questions for Thought and Discussion
49
1
Decision-Making Cases
50
1
Financial Math Questions
50
1
Money Matters: Life-Cycle Cases
51
3
Exploring the World Wide Web of Personal Finance
54
1
Managing Taxes
55
38
Administration and Classification of Income Taxes
56
1
The Marginal Tax Rate Is Applied to the Last Dollar Earned
57
3
Who Should File a Tax Return?
60
1
Ways to Pay Income Taxes
61
1
Eight Steps in Calculating Your Income Taxes
62
12
Avoid Taxes through Proper Planning
74
11
The IRS Audits Some Tax Returns
85
8
Summary
87
1
Key Words and Concepts
87
1
Questions for Thought and Discussion
87
1
Decision-Making Cases
88
1
Financial Math Questions
89
1
Money Matters: Life-Cycle Cases
90
1
Exploring the World Wide Web of Personal Finance
91
2
PART 2 Money Management
93
176
Budgeting and Cash-Flow Management
94
31
The Relationship between Financial Planning and Budgeting
95
1
The Financial Goal-Setting Phase of Budgeting
96
3
The Organization Phase of Budgeting
99
4
The Decision-Making Phase of Budgeting
103
3
The Implementation Phase of Budgeting
106
4
The Control Phase of Budgeting
110
3
The Evaluation Phase of Budgeting
113
3
Discussions about Money
116
9
Summary
121
1
Key Words and Concepts
122
1
Questions for Thought and Discussion
122
1
Decision-Making Cases
123
1
Financial Math Questions
123
1
Money Matters: Life-Cycle Cases
123
1
Exploring the World Wide Web of Personal Finance
124
1
Managing Your Cash
125
31
What Is Cash Management?
126
1
Today's Providers of Financial Services
127
2
Electronic Funds Transfer
129
5
Cash Management Tool 1: Interest-Earning Checking Accounts
134
6
Cash Management Tool 2: Savings Accounts
140
4
Cash Management Tool 3: Money Market Accounts
144
2
Cash Management Tool 4: Low-Risk, Long-Term Savings Instruments
146
10
Summary
151
1
Key Words and Concepts
151
1
Questions for Thought and Discussion
151
1
Decision-Making Cases
152
1
Financial Math Questions
153
1
Money Matters: Life-Cycle Cases
153
1
Exploring the World Wide Web of Personal Finance
154
2
Credit Use and Credit Cards
156
23
Distinguishing between Installment and Noninstallment Credit
157
1
Reasons for and against Using Credit
158
5
Types of Open-Ended Credit Accounts
163
3
The Process for Opening an Open-Ended Charge Account
166
5
Managing a Charge Account
171
8
Summary
176
1
Key Words and Concepts
176
1
Questions for Thought and Discussion
176
1
Decision-Making Cases
177
1
Financial Math Questions
177
1
Money Matters: Life-Cycle Cases
178
1
Exploring the World Wide Web of Personal Finance
178
1
Planned Borrowing
179
25
Planning Your Credit Usage
180
1
Establishing a Debt Limit
180
3
The Language of Consumer Loans
183
4
Sources of Consumer Loans
187
4
Calculating Finance Charges and Annual Percentage Rates
191
4
Dealing with Overindebtedness
195
9
Summary
199
1
Key Words and Concepts
200
1
Questions for Thought and Discussion
200
1
Decision-Making Cases
201
1
Financial Math Questions
202
1
Money Matters: Life-Cycle Cases
202
1
Exploring the World Wide Web of Personal Finance
203
1
Automobiles and Other Major Purchases
204
27
Guidelines for Wise Buying
205
2
Steps Taken Before Interacting with the Seller
207
7
Comparison Shopping
214
6
Negotiate and Decide upon the Best Deal
220
4
Evaluate Your Decision
224
7
Summary
226
1
Key Words and Concepts
226
1
Questions for Thought and Discussion
227
1
Decision-Making Cases
227
1
Financial Math Questions
228
1
Money Matters: Life-Cycle Cases
229
1
Exploring the World Wide Web of Personal Finance
229
2
The Housing Expenditure
231
38
Renting versus Owning Your Home
232
5
How Much Can You Afford for Housing?
237
3
Financing a Home
240
9
What Does It Cost to Buy a Home?
249
7
Special Considerations in Home Buying
256
3
Selling a Home: A Lesson in Role Reversal
259
10
Summary
262
1
Key Words and Concepts
262
1
Questions for Thought and Discussion
263
1
Decision-Making Cases
264
1
Financial Math Questions
264
2
Money Matters: Life-Cycle Cases
266
1
Exploring the World Wide Web of Personal Finance
267
2
PART 3 Income and Asset Protection
269
98
Risk Management and Property/Liability Insurance
270
36
Risk and Risk Management
271
3
What Is Insurance?
274
6
Homeowner's Insurance
280
7
Automobile Insurance
287
8
Other Property and Liability Loss Exposures
295
3
Collecting on Your Property and Liability Losses
298
8
Summary
300
1
Key Words and Concepts
300
1
Questions for Thought and Discussion
300
2
Decision-Making Cases
302
1
Financial Math Questions
302
2
Money Matters: Life-Cycle Cases
304
1
Exploring the World Wide Web of Personal Finance
305
1
Health Care Planning
306
26
Providers of Health Care Plans
307
3
Coverages Provided by Health Care Plans
310
8
Making Sense of Your Health Benefits
318
5
Disability Income Insurance
323
9
Summary
327
1
Key Words and Concepts
327
1
Questions for Thought and Discussion
327
1
Decision-Making Cases
328
1
Financial Math Questions
329
1
Money Matters: Life-Cycle Cases
330
1
Exploring the World Wide Web of Personal Finance
331
1
Life Insurance Planning
332
35
Why Buy Life Insurance?
333
1
How to Determine Your Life Insurance Needs
333
6
Types of Life Insurance
339
10
Understanding Your Life Insurance Policy
349
7
Strategies for Buying Life Insurance
356
11
Summary
362
1
Key Words and Concepts
362
1
Questions for Thought and Discussion
362
1
Decision-Making Cases
363
1
Financial Math Questions
364
1
Money Matters: Life-Cycle Cases
365
1
Exploring the World Wide Web of Personal Finance
366
1
PART 4 Investment Planning
367
154
Investment Fundamentals and Portfolio Management
368
26
Preparations for Investing
369
2
Discovering Your Own Personal Investment Philosophy
371
2
Investment Selection
373
2
Major Factors That Affect the Rate of Return on an Investment
375
8
Portfolio Management Strategies for Long-Term Investors
383
6
The Best Time to Sell
389
5
Summary
390
1
Key Words and Concepts
390
1
Questions for Thought and Discussion
390
1
Decision-Making Cases
391
1
Financial Math Questions
391
1
Money Matters: Life-Cycle Cases
392
1
Exploring the World Wide Web of Personal Finance
393
1
Investing in Stocks and Bonds
394
37
Stocks and Bonds and How They Are Used
395
4
The Language of Stock Investing
399
5
Three Basic Classifications of Common Stock
404
8
Types of Bonds Available to Investors
412
5
What Should You Consider Before Investing in Bonds?
417
7
Advantages and Disadvantages of Investing in Bonds
424
7
Summary
425
1
Key Words and Concepts
426
1
Questions for Thought and Discussion
426
1
Decision-Making Cases
427
1
Financial Math Questions
428
1
Money Matters: Life-Cycle Cases
429
1
Exploring the World Wide Web of Personal Finance
430
1
Investing Through Mutual Funds
431
26
Reasons for Investing Through Mutual Funds
432
2
The Different Objectives of Mutual Funds
434
2
Classification of Mutual Funds According to Their Portfolios
436
4
Unique Benefits of Mutual Funds
440
3
The Costs of Investing Through Mutual Funds
443
5
Strategies for Selecting a Mutual Fund
448
3
When to Sell a Mutual Fund
451
6
Summary
452
1
Key Words and Concepts
453
1
Questions for Thought and Discussion
453
1
Decision-Making Cases
454
1
Financial Math Questions
454
1
Money Matters: Life-Cycle Cases
455
1
Exploring the World Wide Web of Personal Finance
456
1
Buying and Selling Securities
457
32
Securities Markets
458
4
Operation of a Brokerage Firm
462
3
Interpretation of Stock, Bond, and Mutual Fund Quotations
465
4
Securities Transactions and the Investor
469
4
Information about Securities
473
6
Estimating and Calculating Potential Returns on Investments
479
3
How to Invest: A Twelve-Step Process
482
7
Summary
484
1
Key Words and Concepts
484
1
Questions for Thought and Discussion
484
1
Decision-Making Cases
485
1
Financial Math Questions
485
2
Money Matters: Life-Cycle Cases
487
1
Exploring the World Wide Web of Personal Finance
488
1
Real Estate and Advanced Portfolio Management
489
32
Advantages and Disadvantages of Real Estate and Techniques of Advanced Portfolio Management
490
5
What Should You Pay for a Real Estate Investment?
495
1
Direct and Indirect Ownership Investments in Real Estate
496
5
Speculation in the Securities Markets
501
11
Speculation with Tangible Investments
512
9
Summary
515
1
Key Words and Concepts
515
1
Questions for Thought and Discussion
516
1
Decision-Making Cases
516
1
Financial Math Questions
517
1
Money Matters: Life-Cycle Cases
518
1
Exploring the World Wide Web of Personal Finance
519
2
PART 5 Retirement and Estate Planning
521
Retirement Planning
522
32
Radical Changes for Workers and Retirees
523
1
Retirement Expenses and Income Sources
523
2
Tax-Sheltered Retirement Plans
525
1
Employer-Sponsored Qualified Retirement Plans
526
9
Personal Retirement Plans
535
7
Social Security Retirement Benefits
542
3
A Retirement Planning Illustration
545
9
Summary
548
1
Key Words and Concepts
549
1
Questions for Thought and Discussion
549
1
Decision-Making Cases
550
1
Financial Math Questions
551
1
Money Matters: Life-Cycle Cases
552
1
Exploring the World Wide Web of Personal Finance
553
1
Estate Planning
554
Distributions by Probate Court
555
6
Distributions by Prearranged Actions Outside Probate Court
561
1
Use of Trusts to Transfer Assets and Reduce Taxes
562
2
Protection of an Estate from Transfer Taxes
564
Summary
572
1
Key Words and Concepts
572
1
Questions for Thought and Discussion
573
1
Decision-Making Cases
573
1
Financial Math Questions
574
2
Money Matters: Life-Cycle Cases
576
1
Exploring the World Wide Web of Personal Finance
576
Appendixes
A-1
Appendix A Present and Future Value Tables
A-2
Appendix B Estimating Social Security Benefits
A-13
Appendix C Careers in Personal Financial Planning and Counseling
A-17
Appendix D How to Use a Financial Calculator
A-23
Glossary
A-33
Index
A-47