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Lecture Focus on personal finance: An active approach to help you develop successful financial skills (2e) - Chapter 11A

Chapter 11A - Investing basics and evaluating bonds. Explain why you should establish an investment program; describe how safety, risk, income, growth, and liquidity affect your investment decisions; identify the factors that can reduce investment risk; understand why investors purchase government bonds. | 11A Investing Basics and Evaluating Bonds #1 11- What does this chart tell you about investing? Why People Invest To achieve financial goals, such as the purchase of a new car, a down payment on a home, or paying for a child’s education. To increase current income. To gain wealth and a feeling of financial security. To have funds available during retirement years. Objective 1 Explain Why You Should Establish an Investment Program Establishing Investment Goals Financial goals should be: Specific Measurable Tailored to your financial needs Aimed at what you want to accomplish Financial goals should be the driving force behind your investment plan 11- Establishing Investment Goals What will you use the money for? How much money do you need to satisfy your investment goals? How will you obtain the money? How long will it take you to obtain the money? How much risk are you willing to assume in an investment program? What possible economic or personal conditions could alter your investment goals? Considering your economic circumstances, are your investment goals reasonable? Are you willing to make the sacrifices necessary to ensure that you meet your investment goals? What will the consequences be if you don’t reach your investment goals? 11- Performing a Financial Checkup Work to balance your budget Do you regularly spend more than you make? Pay off high interest credit card debt first Obtain adequate insurance protection Start an emergency fund you can access quickly Three months of living expenses Have access to other sources of cash for emergencies Pre-approved line of credit Cash advance on your credit card 11- Surviving a Financial Crisis Establish a larger than usual emergency fund Know what you owe Identify debts that must be paid Reduce spending Pay off credit cards Apply for a line of credit at your bank, credit union, or financial institution Notify credit card companies and lenders if you are unable to make payments Monitor the value of your . | 11A Investing Basics and Evaluating Bonds #1 11- What does this chart tell you about investing? Why People Invest To achieve financial goals, such as the purchase of a new car, a down payment on a home, or paying for a child’s education. To increase current income. To gain wealth and a feeling of financial security. To have funds available during retirement years. Objective 1 Explain Why You Should Establish an Investment Program Establishing Investment Goals Financial goals should be: Specific Measurable Tailored to your financial needs Aimed at what you want to accomplish Financial goals should be the driving force behind your investment plan 11- Establishing Investment Goals What will you use the money for? How much money do you need to satisfy your investment goals? How will you obtain the money? How long will it take you to obtain the money? How much risk are you willing to assume in an investment program? What possible economic or personal conditions could alter your .