Financial Planning Readings

Financial Planning Readings - Spring 2011 Financial...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Spring 2011 Financial Planning Readings KNOW YOURSELF AND THE ECONOMY Before you embark on a financial plan, it is extremely important that you understand yourself--both financially and psychologically. You must also have some insight into the current and future economic situation. With this information in hand, you are then in a much better position to make wise financial decisions. Answer as many of the following questions as possible. The exercise should help you in our upcoming discussions on personal finance. If you are married, photocopy this page and have your spouse answer it about himself/herself. Then compare your answers. Know Yourself I think I am: Yes No Sometimes --A conservative person. ___ ___ ___ --Knowledgeable about investments. ___ ___ ___ --Controlled by my spending. ___ ___ ___ --Happy with my financial situation. ___ ___ ___ --Aware of what the future could bring. ___ ___ ___ --A risk taker. ___ ___ ___ --Very concerned about having money in case of an emergency. ___ ___ ___ --A good money manager. ___ ___ ___ --Able to recover from a financial loss. ___ ___ ___ --Interested in evaluating investments. ___ ___ ___ I currently have: Yes No --Enough money in savings. ___ ___ --Money left over at the end of the month. ___ ___ --A negative checkbook balance. ___ ___ --Short-term financial goals. ___ ___ --Long-term financial goals. ___ ___ --A diversified investment portfolio. ___ ___ Know the Economy ____ --What is the current prime lending rate? ____ --What is the current rate of return on 90-day U.S. Treasury Securities? ____ --What is the current rate of inflation as measured by the Consumer Price Index ____ --What is the current annual real Gross Domestic Product (GDP) rate? ____ --What is the current unemployment rate? 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Spring 2011 RATE YOUR FINANCIAL CHARACTERISTICS Judge yourself regarding the following characteristics that relate to financial management. By knowing oneself, an individual is better able to view their own characteristics and to determine what, if any, changes need to be implemented in their financial management style. Yes No At times NA I keep careful records I plan my purchases in advance I do not overdraw my checking account I am organized I have a budget/spending plan I have financial goals I save money regularly I am not afraid to make financial decisions I have savings/investments I pay off my credit cards monthly My friends think I manage my money wisely I am knowledgeable about personal finance I keep up to date on personal finances I have renters/homeowners insurance I have health insurance I have auto insurance I compare prices (costs) of financial
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/06/2011 for the course HDF 322 taught by Professor Kitt during the Spring '08 term at University of Texas.

Page1 / 6

Financial Planning Readings - Spring 2011 Financial...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online