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Lead1213 - Steven Paul 08/01/2011 Chapter 13-Whats Up? 1....

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Steven Paul 08/01/2011 Chapter 13-What’s Up? 1. Investing for the future _________Owning a home__________ __________Saving, credit, and insurance __________ ___________________Budgeting for basics_____________________ Establishing your values and goals 2. Five possible sources of income are salary, an allowance, alimony, social security payments, and interest earned on savings. 3. Fixed expenses are expenses that are the same from month to month, and variable expenses differ from one period to another. 4. Budgeting is planning how you will use your money. It is important to help you keep your spending within your income. 5. The four basic steps of budgeting are accounting for income and expenses, analyzing your situation, allocating your income, and adjusting your budget. 6. A checking account is used to pay routine bills. 7. It is important to read the details about a credit card offer before applying for the card so you are aware of the interest rate, finance charges, and all associated charges associated with the credit card. 8. You can establish a good credit history by paying your bills on time, taking out an installment loan, and having utilities in your own name. 9. The purpose of insurance is to protect you from financial ruin in the event of illness, accident, theft, fire, or death. 10. Two ways to cut the cost of auto insurance is participate in approved driver education to get a discount, and don’t buy collision or comprehensive coverage if your car is very old. 11. Two advantages of home ownership are the interest on your mortgage and the property taxes
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This note was uploaded on 09/23/2011 for the course LEAD 1301 taught by Professor Cardell during the Fall '11 term at HCCS.

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Lead1213 - Steven Paul 08/01/2011 Chapter 13-Whats Up? 1....

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