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Personal Finance: Turning Money into Wealth, Fifth Edition empowers the student, through the presentation of the ten fundamental principles of personal finance, to successfully make and carry out a plan for their financial future. Throughout the rest of their lives, students will have the ability to drawn upon the ten principles of personal finance to help them effectively deal with an ever-changing financial environment.
Streamlined, graphic rich content in the fifth edition better reflects the students’ learning styles and changes in the financial environment. In this edition, the book now focuses on the “need to know” foundations of personal finance with a greater emphasis placed on providing more graphics in the form of flow charts, pie charts, and bar graphs.
The Ten Principles of Finance now mirrors the text and the part openers discuss how specific principles relate to the chapters in that part.
New Appendix: Your Financial Plan guides the student through a series of exercises, which utilize the worksheets (available in the workbook and online), and will generate a very basic financial plan to help explore where they are today and where they can anticipate being in the future.
The Personal Finance Workbook contains a section on how to use a financial calculator as well as tear-out worksheets which provide a step-by-step analysis to be used with homework assignments or to guide students through actual decisions. Every worksheet is also available electronically on the book website.
Easy-to-follow advice-the proactive checklists, which appear throughout the text, serve as a useful learning tool for students. These boxes identify areas of concern and questions to be asked when buying a car, getting insurance, investing in mutual funds, and performing other personal finance tasks
PART 1. FINANCIAL PLANNING
Chapter 1. The Financial Planning Process
Chapter 2. Measuring Your Financial Health and Making a Plan
Chapter 3. Understanding and Appreciating the Time Value of Money
Chapter 4. Tax Planning and Strategies
PART 2. MANAGING YOUR MONEY
Chapter 5. Cash or Liquid Asset Management
Chapter 6. Using Credit Cards: The Role of Open Credit
Chapter 7. Using Consumer Loans: The Role of Planned Borrowing
Chapter 8. The Home and Automobile Decision
PART 3. PROTECTING YOURSELF WITH INSRUANCE
Chapter 9. Life and Health Insurance
Chapter 10. Property and Liability Insurance
PART 4. MANAGING YOUR INVESTMENTS
Chapter 11. Investment Basics
Chapter 12. Securities Markets
Chapter 13. Investing in Stocks
Chapter 14. Investing in Bonds and Other Alternatives
Chapter 15. Mutual Funds: An Easy Way to Diversify
PART 5. LIFE CYCLE ISSUES
Chapter 16. Retirement Planning
Chapter 17. Estate Planning: Saving Your Heirs Money and Headaches
Chapter 18. Fitting the Pieces Together
Appendix A: Compound Sum of $1
Appendix B: Present Value of $1
Appendix C: Compound Sum of an Annuity of $1 for n Periods
Appendix D: Present Value of an Annuity of $1 for n Persiods
Appendix E: Monthly Installment Loan Tables