Personal Statement Personal Finance - 1628 Words

Introduction Personal finance is overall a very important topic that many people don’t know enough about. Investing is something that I do not know enough about and I know it is a very important. My parents have always told me that you need to do something with the money you don’t currently need because you could be making a profit off of it and you won’t by just putting it in the bank. When I was younger I used to get bonds from family as presents, one of those bonds that you can buy for about $5 and in 10 years it would be worth $20. As I got older my dad helped me put some of my money into a fixed term bank account where I had to keep the money for year long periods and I received higher interest. Eventually I decided I wanted to invest money into the stock market, but I did this by giving my dad the money and telling him he had four years to make me a profit so I had the money by the time I graduated college. But by doing it this way I know nothing about whe re the money is or how to manage it myself. I am interested in learning more about investing, focusing on the stock market but there are many different types of investments. There are bonds, mutual funds, stocks, and then there are other types such as real estate (â€Å"Investing 101: Types of Investments†.) Bonds Bonds are a type of fixed income security in which you are lending a certain amount of your money and in a set amount of years they pay you back with interest. Bonds are relatively risk free when you buy theShow MoreRelatedPersonal Statement : Personal Finance1607 Words   |  7 PagesPersonal Finance Personal finance decision is a very important decision as it involves management of day-to-day finances of an individual or his family. Personal finance includes not only obtaining, budgeting, saving, and spending monetary resources over time but also taking into account various financial risks and future life events. It includes all activities which an individual is concerned about like investment, insurance, tax, debt servicing, mortgages etc. Financial planning involves analysingRead MorePersonal Statement On Personal Finance1724 Words   |  7 Pages Knowledge about personal finance is not always common knowledge and although money touches most modern homes, most parents don’t teach their kids about money either. It can be hard to find time in a busy schedule to figure out when and how to adjust your time to set up a proper budget so instead you just decide to live pay check to paycheck because it got your parents by and now it gets you by and that has just always work ed. One day you have to grow up and realize that those consequences ofRead MorePersonal Statement : Personal Finance1534 Words   |  7 PagesPersonal Finance The most important part of having any success in your financial security is to have a sound financial plan. 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To achieve this goal, you must first identify the financial goals and set priorities. Personal financial planning is the process through which individual manages their finances to achieve maximum satisfaction. It does not matter if you are self-employed, highly paid executive or newly employedRead MorePersonal Financial Planning1579 Words   |  7 Pages | | |2011-2012 Academic Year | ADM 3445 (FR01B) Personal Financial Planning Course Outline Instructor: E. Otuteye Term: Winter 2012 Office: SH 362 Day(s): W Phone: 506 458-7354 Time: 7:00-9:50pm Email: otuteye@unb.ca Classroom: SH 161 Office hours: Th, F 2:00 – 3:00;