Managing Your Personal Finances

by Ryan, Joan S.

• ISBN13: 9780538699587
• ISBN10: 0538699582
• Edition: 4th
• Format: Hardcover
• Copyright: 2001-10-05
• Publisher: South-Western Educational Pub

Summary

Be informed of your financial responsibilities as a citizen, student, family member, consumer, and active participant in the business world. The new edition of Managing Your Personal Finances will provide you with opportunities for self-awareness, expression, and satisfaction in a highly technical and competitive society. Discover new ways to maximize earning potential, develop strategies for managing resources, explore skills for the wise use of credit, and gain insight into the different ways of investing money.

Table of Contents

UNIT One Career Decisions	1	(139)
Choosing Your Career	2	(22)
Considering Careers	3	(9)
Careers of the Future	3	(3)
Job Analysis	6	(6)
The Challenge of Change	12	(12)
Coping with Change	12	(4)
Changing Career Opportunities	16	(3)
Chapter Review	19	(5)
Planning Your Career	24	(24)
Finding a Good Career Fit	25	(10)
Why People Work	25	(1)
Factors Affecting Career Choice	26	(2)
Career Planning	28	(7)
Finding Career Opportunities	35	(13)
Sources of Job Opportunity Information	35	(3)
Job Search Techniques	38	(4)
Chapter Review	42	(6)
Getting the Job	48	(28)
Getting an Interview	49	(15)
The Letter of Application	49	(6)
The Resume	55	(5)
Letters of Reference	60	(4)
Applying, Interviewing, and Following Up	64	(12)
The Application Form	64	(2)
The Job Interview	66	(3)
The Thank-You Letter	69	(3)
Chapter Review	72	(4)
Adapting to Your Job	76	(28)
Communicating in the Work Environment	77	(10)
Effective Communication at Work	77	(7)
Human Relations at Work	84	(3)
Thriving in the Work Environment	87	(17)
Employer Expectations and Policies	87	(6)
Motivation and Needs	93	(5)
Chapter Review	98	(6)
Keeping Your Job	104	(36)
Work-Related Forms and Laws	105	(12)
Required Work Forms	105	(7)
Employment Laws	112	(5)
Responsibilities on the Job	117	(23)
Employee Responsibilities	117	(3)
Employer Responsibilities	120	(5)
Chapter Review	125	(7)
Career Development: Planning and Leading a Meeting	132	(8)
UNIT Two Money Management	140	(136)
Pay, Benefits, and Working Conditions	142	(30)
Understanding Pay, Benefits, and Incentives	143	(15)
Gross Pay, Deductions, and Net Pay	143	(9)
Benefits and Incentives	152	(6)
Work Arrangements and Organizations	158	(14)
Flexible Work Arrangements	158	(2)
Labor Unions and Professional Organizations	160	(7)
Chapter Review	167	(5)
Federal Income Tax	172	(34)
Our Tax System	173	(7)
Types of Taxes	173	(1)
History of Taxes	174	(1)
Components of the Tax System	175	(5)
Filing Tax Returns	180	(26)
Definitions of Terms	180	(4)
Preparing to File	184	(4)
Preparing Your Income Tax Return	188	(12)
Chapter Review	200	(6)
Budgets and Financial Records	206	(30)
Budgeting and Record Keeping	207	(8)
Importance of Financial Planning	207	(1)
Preparing a Budget	208	(3)
Personal Records	211	(4)
Legal Documents and Filing Systems	215	(21)
Contracts and Agreements	215	(7)
Negotiable Instruments	222	(1)
Warranties	223	(2)
Filing Systems for Personal Records	225	(3)
Chapter Review	228	(8)
Checking Accounts and Other Banking Services	236	(40)
Checking Accounts	237	(16)
Purpose of a Checking Account	237	(2)
Opening a Checking Account	239	(1)
Parts of a Check	240	(2)
Using Your Checking Account	242	(5)
Endorsing Checks	247	(3)
Types of Checking Accounts	250	(3)
Other Banking Services and Fees	253	(23)
Other Banking Services	253	(4)
Bank Fees	257	(3)
Chapter Review	260	(8)
Assessing Your Financial Health	268	(8)
UNIT Three Financial Security	276	(176)
Saving for the Future	278	(24)
Savings Goals and Institutions	279	(8)
Why You Should Save	279	(2)
How Your Money Grows	281	(1)
Where You Can Save	282	(5)
Savings Options, Features, and Plans	287	(15)
Savings Options	287	(2)
Selecting a Savings Plan	289	(2)
Saving Regularly	291	(4)
Chapter Review	295	(7)
Investing for Your Future	302	(28)
Investing Fundamentals	303	(9)
Stages of Investing	303	(3)
Reasons for Investing	306	(1)
Risk and Return	307	(1)
Investment Strategies	308	(4)
Exploring Investment Options	312	(18)
Sources of Financial Information	312	(4)
Investment Options	316	(8)
Chapter Review	324	(6)
Investing in Stocks	330	(28)
Evaluating Stocks	331	(8)
Characteristics of Stock	331	(2)
Classifying Stock Investments	333	(2)
Determining a Stock's Worth	335	(4)
Buying and Selling Stock	339	(19)
The Securities Market	339	(3)
Investing Strategies	342	(4)
Reading the Stock Listings	346	(2)
Stock Indexes	348	(3)
Chapter Review	351	(7)
Investing in Bonds	358	(22)
Characteristics of Bonds	359	(8)
Coporate Bonds	359	(4)
Government Bonds	363	(3)
Zero-Coupon Bonds	366	(1)
Buying and Selling Bonds	367	(13)
How to Buy and Sell Bonds	367	(1)
Evaluating Bonds	368	(1)
Reading Bond Listings	369	(4)
Chapter Review	373	(7)
Investing in Mutual Funds, Real Estate, and Other Alternatives	380	(28)
Investing in Mutual Funds	381	(9)
What Are Mutual Funds?	381	(1)
Advantages of Mutual Funds	382	(1)
Types of Mutual Funds	382	(3)
Evaluating Mutual Funds	385	(5)
Investing in Real Estate	390	(6)
Direct Real Estate Investments	390	(2)
Indirect Real Estate Investments	392	(2)
Owning and Managing Rental Property	394	(2)
Other Investment Choices	396	(12)
Metals, Gems, and Collectibles	396	(2)
Financial Instrument Investments	398	(2)
Chapter Review	400	(8)
Retirement and Estate Planning	408	(44)
Planning for Retirement	409	(13)
Defining Your Retirement Needs	409	(3)
Estate Planning Tools	412	(7)
Taxation of Estates	419	(3)
Saving for Retirement	422	(30)
Personal Retirement Accounts	422	(3)
Employer-Sponsored Retirement Plans	425	(2)
Government-Sponsored Pension Plans	427	(3)
Chapter Review	430	(8)
Assessing Your Financial Security	438	(14)
UNIT Four Credit Management	452	(108)
Credit in America	454	(24)
What Is Credit?	455	(8)
The History of Credit	455	(3)
The Vocabulary of Credit	458	(1)
Advantages and Disadvantages of Consumer Credit	459	(4)
Types and Sources of Credit	463	(15)
Kinds of Credit	463	(4)
Sources of Credit	467	(5)
Chapter Review	472	(6)
Credit Records and Laws	478	(26)
Establishing Good Credit	479	(8)
Credit Records	479	(3)
Creditworthiness	482	(1)
Getting Started with Credit	483	(4)
Credit Ratings and Legal Protection	487	(17)
Credit Ratings	487	(1)
Credit Reports	488	(2)
Credit Laws	490	(7)
Chapter Review	497	(7)
Responsibilities and Costs of Credit	504	(26)
Using Credit Responsibly	505	(8)
Responsibilities of Consumer Credit	505	(3)
Protecting Yourself from Credit Card Fraud	508	(2)
Avoiding Unnecessary Credit Costs	510	(3)
Analyzing and Computing Credit Costs	513	(17)
Why Credit Costs Vary	513	(1)
Computing the Cost of Credit	514	(8)
Chapter Review	522	(8)
Problems with Credit	530	(30)
Getting Unstuck	531	(8)
Solving Credit Problems	531	(3)
Bankruptcy Laws and Their Purpose	534	(5)
Reconsidering Bankruptcy	539	(21)
Major Causes of Bankruptcy	539	(2)
Advantages of Bankruptcy	541	(1)
Disadvantages of Bankruptcy	542	(3)
Chapter Review	545	(7)
Managing Credit and Debt	552	(8)
UNIT Five Resource Management	560	(148)
Personal Decision Making	562	(28)
Making Better Decisions	563	(8)
The Decision-Making Process	563	(4)
Economic Wants and Needs	567	(4)
Spending Habits	571	(19)
Factors that Influence Spending	571	(2)
Planning Major Purchases	573	(2)
Marketing Strategies that Influence Spending	575	(8)
Chapter Review	583	(7)
Renting a Residence	590	(28)
Housing Decisions	591	(12)
Housing Alternatives	591	(3)
Living Arrangements	594	(3)
Planning Your Move	597	(6)
The Rental Process	603	(15)
Advantages of Renting	603	(1)
Disadvantages of Renting	604	(1)
Rental Agreements	604	(4)
Landlord/Tenant Responsibilities	608	(4)
Chapter Review	612	(6)
Buying a Home	618	(22)
Why Buy a Home?	619	(6)
Advantages of Home Ownership	619	(3)
Costs and Responsibilities of Home Ownership	622	(3)
The Home-Buying Process	625	(15)
Finding and Selecting a Home	625	(4)
Obtaining Financing	629	(1)
Taking Title to Property	630	(3)
Chapter Review	633	(7)
Buying and Caring for a Vehicle	640	(30)
Buying a Vehicle	641	(13)
Steps in the Car-Buying Process	641	(8)
Financing Your Car	649	(1)
Leasing a Car	649	(1)
Consumer Protection for Car Buyers	650	(4)
Maintaining Your Vehicle	654	(16)
Cost of Operating a Car	654	(2)
Extending the Life of Your Car	656	(6)
Chapter Review	662	(8)
Family Decisions	670	(38)
Family Plans and Goals	671	(13)
Marriage and Commitment	671	(4)
Family Financial Decisions	675	(2)
Vacation Planning	677	(7)
Dealing with Life's Uncertainties	684	(24)
Divorce	684	(2)
Death: A Final Plan	686	(3)
Chapter Review	689	(7)
Managing Your Resources	696	(12)
UNIT Six Risk Management	708	(86)
Introduction to Risk Management	710	(22)
What Is Insurance?	711	(6)
Spreading the Risk	711	(2)
Insurance Terminology	713	(1)
Insurable Risks	714	(3)
Risk Management	717	(15)
Risk-Management Process	717	(3)
Making a Risk-Management Plan	720	(5)
Chapter Review	725	(7)
Property and Liability Insurance	732	(24)
Property Insurance	733	(9)
Renter's Insurance	733	(1)
Homeowner's Insurance	733	(7)
Shopping Online for Insurance	740	(2)
Automobile and Umbrella Insurance	742	(14)
Automobile Insurance	742	(5)
Umbrella Liability Insurance	747	(2)
Chapter Review	749	(7)
Health and Life Insurance	756	(38)
Health Insurance	757	(9)
Group and Individual Health Plans	757	(2)
Types of Health Insurance Coverage	759	(3)
Private Health Plans	762	(1)
Self-Insurance Plans	763	(1)
Medicare and Medicaid	764	(2)
Disability and Life Insurance	766	(28)
Disability Insurance	766	(2)
Life Insurance	768	(6)
Chapter Review	774	(6)
Managing Personal Risks	780	(14)
UNIT Seven Consumer Rights And Responsibilities	794	(81)
Role of Consumers in a Free Enterprise System	796	(26)
Our Free Enterprise System	797	(7)
Characteristics of the Marketplace	797	(3)
Parts of a Free Enterprise System	800	(4)
Consumer Problems	804	(18)
Fraudulent and Deceptive Marketing Practices	804	(5)
Being a Responsible Consumer	809	(7)
Chapter Review	816	(6)
Consumer Protection	822	(22)
Laws to Protect Consumers	823	(6)
The Consumer Bill of Rights	823	(1)
Federal Consumer Protection Laws	824	(5)
Agencies to Protect Consumers	829	(15)
Sources of Consumer Protection	829	(6)
Public Officials	835	(3)
Chapter Review	838	(6)
Dispute Resolution	844	(31)
The Legal System	845	(9)
Structure of the Legal System	845	(5)
Court Proceedings	850	(4)
Other Ways to Seek Redress	854	(21)
Self-Help Remedies	854	(1)
Small-Claims Court	855	(1)
Class-Action Lawsuits	856	(1)
Governmental Assistance	857	(1)
Alternate Dispute Resolution	858	(4)
Chapter Review	862	(6)
Exploring Ethical Issues	868	(7)
Appendix A 1040EZ Tax Tables	875	(6)
Appendix B 1040A Tax Tables	881	(7)
Photo Credits	888
Glossary	1	(1)
Index	1