Section 1 Personal Finance Assignment Essay

v. Jessie has no spouse and can't be claimed as a dependent by someone else.

- Have at least 5-7 years experience with working as a commercial insurance underwriter, banker, or claims adjustment.

7. In capitalism, most businesses have a profit motive. Describe at least one reason that businesses with a profit motive may be helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society. (4-7 sentences. 2.0 points) At least one reason businesses with profit motive is helpful is because

4. You are now familiar with government and how it plays a role in our economy. What are the advantages and disadvantages of governmental involvement? What changes would you make to improve government’s role?

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

My parents receive an earned income, meaning they work for it, unlike unearned income like child support and disability. My mom works as a Human Resources Director; she over sees all investigations in her facility and hires and fires people. My dad works as an Operations Sales Manager, so he over sees all of the different sales. They both have salary wages, so their income isn’t based on hours.

• Discussing the two forces of competition, which are threat of new entrants and threat of substitutes, and identifying the most significant of those forces for McDonald’s Corporation.

Life insurance is meant to provide funds to replace a breadwinner's to protect and support dependents. Chad and Haley are dependents, not income providers. Therefore, the purchase of life insurance is unnecessary and not recommended. The Dumonts should use the money they would spend on policies for the children to increase their own coverage.

In this article, the main point the author is trying to rise is that making a holistic plan, just like those kinds of plan that people make for a long journey, can help individuals to achieve the goals they set for a secure financial future. He utilizes planning for retirement as an example. As the author indicates in the article, to establish an executable retirement plan, or any other types of financial plan, the first step is to get everything organized, including putting together a budget and get all personal financial information in one place. This is a good starting point and essential for people to manage personal financial life. Then, the next step is to set goals, determine what, where and when individuals desire to work toward. Those goals need to be realistic and relates to what people really want, so they can provide the maximum motivation to drive people to reach the targets. To ensure a financial plan can be established and executed successfully, the author also suggests to reach professional financial advisor for assistance and guidance. Besides, the author emphasizes the importance of adapting the personal financial plan for certain

Purpose: To inform the audience about how small sacrifices today can result in huge dividends in retirement.

Capitalism started up as a system of investing and sharing money in order to increase the value of resources in the future. Capitalism was just an economic system, but then soon turned into a complex system of ethical practices. Harari defines capitalism as, “a set of teachings about how people should behave, educate their children and even think” (Harari 314). This economic system evolved along with the people that were endorsing it. Capitalism enables the rich to get richer, while the poor continue to get poorer. There are many benefits to capitalism, but there are downfalls as well, and these downfalls tend to be masked because of the rapid speed capitalists grow at. Harari first presents a definition for capitalism, and soon goes into great detail on why capitalism, while fast paced and unforgiving, is able to stand unwavered while other productions fail.

In this essay, I will attempt to discuss the interpretation of my discussion board thread's retirement savings plan. In doing so, I will provide an illustration of the challenges I have encountered while trying to save in today’s society. Also, I will shed light upon various methods by utilizing the place of employment saving benefits.

Capitalism is a subject that can be considered deeply controversial. There are many who tout the benefits that capitalism provides to the economy and the progress of human society. There are others who decry that it is a system which promotes selfish motives and extols profits above honesty and genuine goodness. This essay will examine the claims of each and will reach to conclude the answer to the question “is capitalism good?”

Establish your budget. Are you looking for an easy way to begin? On the first day of a new month, get a receipt for everything you purchase. Stack the receipts into categories like restaurants, groceries, and personal care. At the end of the month you will be able to clearly see where your money is going.

Try to make a budget, it will be your blueprint for your finances. The first step for anyone wanting to take control of their finances is to make a budget. A budget will allow you to understand where your money is going and enable you to adjust your spending by designating how much you can afford. Creating a budget is a good idea for everyone, but especially for individuals with limited income. Write down your budget, with specific categories of spending, and stick to it. Start slowly by using a percentage on how much you will save versus spend. A plan doesn’t work unless you work the plan.