Title: Personal Finance
Instructor: Coast Line College
Why I chose to take this class:
To learn and understand about my personal finance.
What I learned from this class:
The first thing you need is to develop your personal personal financial plan. You begin by tabulating your expenses and your source of income. Identify unnecessary and excessive expenses. Develop a budget to balance your income and expenditure. To prepare your personal financial plan, you need to include what your future plans are: saving for a vacation, buy a house or pay off debt. With the information, you can develop your personal financial plan. Other factors which you can incorporate into your personal financial plan are:
a) Your personal career strategies, it affects you future income.
b) money management strategies, to save money for child’s education, house.
c) Planning your tax strategies, to lower you tax liabilities and stay out of trouble with IRS.
d) banking services of financial institution, save, pay bills, secure loans.
e) Consumer Credit, your personal credit can save you a lot of money on interest.
f)Finance of housing, probably the biggest investment, tax shelter and shelter for most of us.
g) Home, auto, health, life and business insurance. To Protect, your assets as well as your personal health and well being.
h) Investments, Stock, bonds, commodities, real estates, small business, cryptocurrencies, insurance.
i) Retirement planning, start saving earlier to let time value of money work for you. 401K, 457K, Roth IRAs.
j) Estate Planning, will and trust to avoid heavy probate cost charged by the state to your estate.
How will this class contribute to my success upon release:
This information will help me with my personal finance. This information will be taught to others when I volunteer my teaching services to the communities.