The Student's Guide to Financial Literacy

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The Student's Guide to Financial Literacy

Format:  Hardcover,

220 pages

Publisher: Greenwood Pub Group

Publish Date: Mar 2010

ISBN-13: 9780313377181

ISBN-10: 0313377189

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The recent global financial crisis was caused, at least in part, by the financial ignorance of many consumers. Many students and young adults in particular have never been taught the basics of financial planning. Yet, the earlier people move from financial illiteracy to literacy, the greater the benefits that will accumulate over time.

As "The Student's Guide to Financial Literacy" makes clear, practices adopted in the early years of adulthood can have the most dramatic effect on a person's ultimate quality of life, level of success, and age of retirement. This book is designed to convey financial wisdom in terms that are easy to understand with suggestions that are easy to apply. Readers will learn about the importance of budgeting and saving, the compounding of money, and how to create a diversified portfolio of investments. Included is advice on buying a first home, the characteristics of good debt versus bad debt, insurance and tax planning, even choosing the right career.

Specifications

Publisher: Greenwood Pub Group
Publish Date: Mar 2010
ISBN-13: 9780313377181
ISBN-10: 0313377189
Format: Hardcover
Number of Pages: 220
Shipping Weight (in pounds): 1.46
Product in Inches (L x W x H): 7.25 x 10.0 x 0.75
Walmart No.: 9780313377181

Chapter outline

Introductionp. xi
The Value of an Educationp. 1
Targeting the Right Careerp. 1
Educational Costs Versus Benefitsp. 2
Paying for Collegep. 4
Enhancing Your Marketabilityp. 6
The Importance of Savingsp. 13
The Wonders of Compoundingp. 13
Inflationp. 16
Budgetingp. 17
Automatic Savings Plansp. 17
Buying Your First Homep. 19
The Goal of Retirementp. 24
Investmentsp. 25
Benchmarks and Indexesp. 25
Bank Productsp. 28
Fixed Incomep. 29
Equitiesp. 37
Mutual Fundsp. 47
Exchange Traded Fundsp. 53
Real Estatep. 54
Alternative Investmentsp. 62
Avoiding Investment Scamsp. 72
Principals of Investingp. 77
Risk Versus Returnp. 77
Diversificationp. 80
Active and Passive Investingp. 87
Personal Investment Objectivesp. 91
Portfolio Allocation Examplesp. 94
Portfolio Rebalancingp. 96
Debtp. 99
Good Debt Versus Bad Debtp. 100
Other People's Moneyp. 102
The Importance of Your Credit Scorep. 103
Preventing Identity Theftp. 105
Credit Cardsp. 106
Key Financing Termsp. 111
Consumer Product Loansp. 117
Financing Your First Homep. 119
Home Equity Loansp. 123
Tax Considerationsp. 125
Ordinary Versus Capital Gain Taxesp. 125
The Time Value of Moneyp. 129
Tax Deferralp. 130
Tax Avoidancep. 132
The Benefits of Retirement Accountsp. 133
The Tax Geekp. 137
Insurancep. 139
What Is Insurance?p. 140
Liability Insurancep. 141
Homeowners' Insurancep. 142
Automobile Insurancep. 143
Health Insurancep. 145
Disability Insurancep. 146
Life Insurancep. 147
The Protection of an Umbrellap. 148
Business Insurancep. 149
A Cost Versus Benefit Analysisp. 150
The Entrepreneurp. 153
The Big Ideap. 155
Creating a Business Planp. 156
Finding Financingp. 161
Protecting Your Investmentp. 165
Economicsp. 169
The Economyp. 169
Recessions and Depressionsp. 170
Budget Deficits and Surplusesp. 172
Fiscal Policyp. 174
Monetary Policyp. 175
Foreign Currenciesp. 177
Booms and Bustsp. 179
Leading Economic Indicatorsp. 181
Lagging Economic Indicatorsp. 182
The 10 Most Common Mistakes to Avoidp. 185
Appendix: Household Budgeting Modelp. 193
Glossaryp. 197
Bibliographyp. 213
Indexp. 215

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