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Financial Planning
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Financial Planning
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25 Questions

1. Position obtained to earn money

2. A financial statement that lists and summarizes income and expense transactions over a period of time

3. The achievement of financial aspirations that are desired - planned or attempted. It is defined by the individual who seeks it. *unique to each individual

4. IRS

5. Implementing the budget (recording amnts spent) - Evaluating the budget (reviewing patterns)

6. Storing and maintaining personal financial records - Creating personal financial statements (balance sheets and cash flow) - Creating a plan for spending and saving (budgeting)

7. Where can I get best return? -Minimize cost of checking and payment services? -Can I borrow money when I need it? Types of endorsements -Blank Endorsement: Sign back of check; most risky -Restrictive Endorsement: write acct # and "for deposit only"

8. Correspondance (minor questions) - Office audit - Field (most complex) (more coorp. than ppl.)

9. Facilitates handling Financial affairs -Promotes timely bill paying -Benchmarks for success -records available @ tax time -Improves financial decisions -Clear record of available resources

10. Short Term- within the year (small debts - saving for a vacation) Intermediate- 1 to 5 years Long Term- more than 5 years (retirement)

11. Effective managing of resources - Control of financial affairs - Improved personal relationships - Freedom from financial worry

12. Deposit a specific amount each payday into an account not readily accessible - payroll deduction - save coins - and cut down on spending - putting Payroll deductions into saving accounts - Automatic payments from checking into savings accounts or mut

13. S- specific M- measurable A- action oriented R- realistic T- time based

14. Spending reduces savings potential while saving reduces amounts available for spending -Credit use ties up future income -Using savings for purchases depletes savings -Comparison shopping spends time but saves money

15. Campus Projects -Internships -Volunteer work -Part-time employment -Full-time employment

16. Library and online info -career center -Networking -References -Company Visits

17. The process of managing your money to achieve personal economic satisfaction

18. Generate funds for government spending

19. The way we can afford to live today and make ends meet

20. Legal

21. How we want to live financially

22. 1. Assess goals and abilities 2. Evaluate employment market 3. Develop resume and letter 4. Interview and assess performance 5. Evaluate positions offered 6. Address career development

23. Savings -Payment services -Borrowing -Trust -asset management account

24. Commitment to a profession that requires continued training

25. 1. Asses goals and abilities 2. Evaluate employment market 3. Develop resume and letter 4. Interview and assess performance 5. Evaluate positions offered 6. Address career development

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