If I had one million dollars. Before covering any curriculum in personal finance class I wrote a financial strategy saying I would use my million dollars to further my education. This would create a gateway to make more money in life because I understand that one million dollars is not enough to last me a lifetime. My goal now is still very similar to what it was at the beginning of the quarter. However, now I have a much better understanding of how I plan to manage my money in the near future to set myself up for the rest of my life. In chapter one I determined my SMART goals. Smart goals seem to be the starting point to any financial situation. Within building SMART goals you determine a specific goal, the reality of making it happen, and when. I have a much better understanding now of what my actual goals are. My smart goal over 6th quarter co-op is to save roughly 20% of my income to put towards next quarter beings I waste so much money on little things. My spending analysis that I completed in chapter 3 helped me realize that I was spending too much on WANTS rather than needs. It is actually quite upsetting when I think back to all of the things I spent money on that I thought was justifiable at that point but in all reality it is not. Once we began calculating opportunity costs I was really upset because I figured out that taking a sick day to hang out with friends not only meant missing out on a day of work but also spending money while I’m out! Another goal I have set for myself is to prepare for retirement. During chapters 12-15 we covered investing. I have always been interested in stocks and bonds but I never knew how to apply it to real life. Playing the market game helped me become more familiar with how to quickly l... ... middle of paper ... ...t be mindful of the situations that can occur and even make sure I have an umbrella policy to protect me of those freak accidents that wouldn’t usually be covered. Throughout the course of the last 11 weeks or so, I have gotten answers for more questions than I can even think of. I have always wondered things like how the stock market works, how to invest for my future, the steps to take in purchasing something like a home or a vehicle, and so many more things. Now that we covered all of this information in the classroom and even done projects to relate it to our everyday lives, I have a much better understanding on how to become financially stable. Now I can’t wait to actually apply all of these useful tips to my life. Now if someone actually gave me a million dollars, or if I won the lottery, I would actually have a very strategic plan to making the best out of it.
...nd others for injuries, look for and extinguish small fires, inspect your home for damage, listen to the radio for instructions, and expect aftershocks.
In order to avoid the pitfalls of your smart goals they should be both SMART and WISE. WISE goals are written, integrated, synergistic and expansive (Jay, 2011). I want to go over two examples of SMART goals that I feel will take me to the next
I chose to do my book review on Brad and Ted Klontz’s “Mind Over Money: Overcoming the Money Disorders That Threaten Our Financial Health” because I have observed, and participated in, bad financial decisions that have greatly impacted my family for decades. I’ve taken many personal steps to attempt to break the cycle of destruction that ended my parents’ marriage, and to raise my children in a debt free environment. Unfortunately, it has not been an easy task. I have read many financial self help books and attended seminars on the subject. This book caught my attention when it said that simply learning how to budget and pay off debt isn’t enough, that one has to first understand our psychological relationship to money, and then move beyond the financial constraints we put on upon ourselves. For years I had struggled with debt and money management. I had always assumed it was my lack of education that held me from moving forward. Reading this book has been a welcome eye-opener.
Where I thought Money, fame, glory and power where my goals. I dreamed of becoming the CEO of Northwestern Memorial Hospital. Moreover, the reason was that currently their CEO makes 14.5 million a year. Growing up I always assumed making more money would make me happy. As I grew up and started, working the goal was always to make more money. For instance, my first job I made $15 a day. I would tell myself if I only made $30 a day, I would be able to do this or that. As the years progress I went on to tell myself if I only made XX amount of dollars my life would get better. Now that I am making a decent amount of money now I can say okay life is better but it is not the money it is my lifestyle and my son that has enhance my
safe things to do to protect yourself or anyone else from possible harm. As many
The choices we make early in life have an enormous impact on our future. I have always known that I wanted to directly impact people’s lives. My personal experiences have had a large impact on my motivation to accomplish all my dreams. In the future, I would love to influence another generation of students to soar for their dreams.
The area of my life that I chose to make a positive change in was my inability to be wise with money. This element of my life was something I had intended to work on for quite some time, and this mini-journey was the perfect way to kick-start my goal. I found this process to be exceptionally successful, but it didn’t come without its challenges.
The safety procedures that I follow while at work include maintaining a safe and steady pace, wearing protective gear when needed, and reporting all unsafe conditions to my boss. It is important to me that I do well on my job so I am able to save money to financially support myself in the near future. In leisure activities, such as sports, I make sure I am wearing the proper equipment so I don’t get injured. In my free time I also enjoy volunteering at the animal shelter. When helping out with the cats, I wear gloves and long sleeves to avoid getting scratched while cleaning out their cage. While working with the dogs, I always have to put them on a leash before opening the kennels in order to ensure the safety of me and everyone else who is in the building.
High school seniors takes deep breaths and parade onto the stage. The beginning of a new chapter awaits as they make the journey from one point of the stage to the end. They reflect on what they have been taught in those many years of high school. The most terrifying fact while graduating high school is the next step: making it on their own. Because they have taken part in the appropriate classes, the students are certain that they have gained the correct knowledge to begin making their mark on the world. In high school, it is crucial to achieve the appropriate classes in order to feel ready to take on the world ahead as an adult. However, many students lack proper education. One key example is financial literacy. Financial literacy is the
My goal is the final destination of my financial success. It is to be able to pay bills without worry, be free of debt, have enough money for my kids to go to colleges and help other people with my financial resources.
Financial planning involves short and long-term investment strategies. A short-term strategy is one that an individual would want to see results in one to two years. “Most investment advisors say your first short-term goals should be getting your financial house in order by eliminating credit card debt and establishing a rainy day fund” (Mutual Fund Store, 2014). Mutual Fund Store explains that intermediate-term and long-term goals includes buying a house, starting a business, and retiring according to each person’s own schedule and lifestyle. Prior to saving and investing for one’s...
fail at my goal. So if I can set a respectable objective, big or small because. eventually it will help
When I create a goal I always write down whether the goal is actually SMART, if I find that the goal is not “SMART” than I add all of the attributes of a SMART goal to it. These goals benefit my life because it keeps me organized on what I exactly what to accomplish I life. So far, by using smart goals I have been able to track just how well I have been doing in school. Every time I complete a goal, I get excited to complete the next goal. My goals keep me on track for my success and they motivate me to move on to the next goal. It’s an unspoken sensation to feel like you accomplished
Personal financial planning is important because it helps you prepare financially for the future. My first short-term financial goal is to have an 8-month emergency savings account. This class helped me understand the important steps needed to achieve my financial goals. “Successful financial planning requires specific goals combined with spending, saving, investing, and borrowing strategies based on your personal situation and various social and economic factors, especially inflation and interest rates” (Kapoor, Dlabay & Hughes, 2012). First I evaluated my spending habits. This allowed me to see where I was
It’s true what everyone talks about safety – you are the key to your safety, when you do it safely you do it the right way and the best gift you can give to your family is to always stay safe. We have been taught by our parents and teachers to be cautious while doing a number of things. That’s very essential in our daily lives, because one needs to be extra cautious to prevent unavoidable accidents. However, mishaps do happen everywhere in the safest of places, no matter how careful we are in our actions. It is highly unpredictable, what’s going to happen the very next instant. There are numerous incidences we come across like simple trips, falls, cuts due to sharp objects, burns or sudden worsening of a person’s health condition, causing