Personal Finance

Topics: Personal finance, Credit history, Wealth Pages: 4 (1230 words) Published: July 25, 2012
1. Name 10 critical strategies for personal finance success. Evaluate your financial health, Plan and budget, manage your cash and credit, control your debt, make knowledgeable consumer decisions, have adequate health life property and liability insurance, understand investing principles, make investment decisions that reflect your goals, plan for retirement, plan for what happens to your accumulated wealth and your dependents after you die. 2. List at least five reasons why women tend to have a tougher time than men achieving financial security. Women generally earn less than men. They're less likely to have pensions. Qualify for less income from Social Security because they generally earn less. They live longer than men. Planning for their financial independence.

3. Name four unique obstacles that women must consider when planning for their financial future, particularly when planning retirement. More single young women ages 21-34 (53 percent) said they were living from paycheck to paycheck than did single young men (42 percent). Women tend to be more conservative with their investments, which means their investments tend to earn less. Twenty percent of all women will never marry. Eighty percent of all widows who are now living in poverty were not living in poverty before their husbands died. At age 65, women outnumber men by 3 to 2, and at 85 they outnumber them 5 to 2. 4. Summarize two strategies that women should implement to compensate for the unique financial challenges the face. The way they can compensate for their unique financial challenges is to remember Principle 9: The Best Protection Knowledge, and Principle 8: Nothing Happens without a plan. 5. List the four steps critical to financial success when planning for the life event “getting started.” Explain how the warning “don't procrastinate” applies to each step. Step 1: Lay the Groundwork. Step 2: Identify Your Goals. Step 3: Begin Savings for Your Goals. Step 4: Manage Your...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • personal finance 5 Essay
  • Personal Finance Research Paper
  • Personal Finance Management Essay
  • Personal Finance Week 5 Research Paper
  • finance Research Paper
  • Finance
  • Personal Budget Balance Sheet, Cash Flow Essay
  • Assignment 5 Essay

Become a StudyMode Member

Sign Up - It's Free