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Financial Issues
Basic Information

Financial Issues

What is this whole business of making money about? How much money do you really need? The answers to these questions depends on your lifestyle and what your material needs are. It is often said that money is not the most important thing in the world. For many people, however, it is right up there next to air in importance. These are not necessarily overly-materialistic people. Rather, they simply understand the true value of money. Money, in and of itself, is not very spectacular. What money can do for you is what is really important. Money gives you freedom and choices. You can decide where and how you want to live when you have a good income or financial resources. On the other hand, when you do not have much money, choice may be something that you cannot afford. The choices available to you may not really be choices at all.

Obviously, you need money to cover your basic expenses: food and shelter. Beyond that, how much money you n...

 
Fast Facts: Learn! Fast!

What financial issues are important to plan for in life?

  • Money gives you freedom and choices. You can decide where and how you want to live when you have a good income or financial resources.
  • The best way to achieve your financial and lifestyle goals is to prepare yourself for a good career.
  • Putting yourself on a budget means prioritizing your needs, and then making and sticking to a spending plan that helps insure that your most pressing needs are met first, before your less pressing needs.
  • You can establish different types of accounts at a bank, some of which allow you to have remote access to your money.
  • People who spend more than they earn finance the difference that they haven't earned with credit cards, home equity lines of credit, and personal loans. That means that they are in debt.
  • There are many types of insurance coverage available and each is designed to cover a specific type of risk.
  • In the long run, the financial benefits of homeownership generally far outweigh those of renting as owning a home is an investment.
  • There are a number of issues to consider when deciding whether to buy or lease a car.
  • The key to successful investing is to have a good understanding of what your goals are and then you can select investment options that best suit your needs.
  • There are generally only two ways to accumulate enough money to retire.
  • It is in your interest to make a legal and binding plan that will help your surviving family and friends understand how you want your assets to be distributed after you die.
  • Employing good tax planning strategies will allow you to minimize the amount of your income that is subject to taxes, allowing you to keep more of your income for yourself.

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