In this chapter, students will be able to: Understand the role of cash management in the personal financial planning process; describe today’s financial services marketplace, both depository and nondepository financial institutions; select the checking, savings, electronic banking, and other bank services that meet your needs; open and use a checking account; calculate the interest earned on your money using compound interest and future value techniques; develop a savings strategy that incorporates a variety of savings plans. | PFIN 4 Managing Your Cash and Savings 4 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1 Understand the role of cash management in the personal financial planning process 2 Describe today’s financial services marketplace, both depository and nondepository financial institutions 3 Select the checking, savings, electronic banking, and other bank services that meet your needs LEARNING OUTCOMES PFIN4 | CH4 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4 Open and use a checking account 5 Calculate the interest earned on your money using compound interest and . | PFIN 4 Managing Your Cash and Savings 4 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1 Understand the role of cash management in the personal financial planning process 2 Describe today’s financial services marketplace, both depository and nondepository financial institutions 3 Select the checking, savings, electronic banking, and other bank services that meet your needs LEARNING OUTCOMES PFIN4 | CH4 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4 Open and use a checking account 5 Calculate the interest earned on your money using compound interest and future value techniques 6 Develop a savings strategy that incorporates a variety of savings plans LEARNING OUTCOMES (continued) PFIN4 | CH4 Cash Management (Liquid Assets) Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Routine administration of cash and near-cash resources Establishes savings program that is an important part of personal financial planning PFIN4 | CH4 Exhibit Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Representative Rates of Return PFIN4 | CH4 Low Interest Rates Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Have implications for personal finances by creating economic distortions Discourage savings .
