Description
For the first course in personal finance, also called Financial Planning or Home Economics
and Finance.
The goal of the text is to address the two most critical tasks present in teaching
personal finance: The first is to have students appreciate the importance of planning and
have a basic understanding of planning techniques. The second is to develop students'
abilities to think critically and to make effective decisions.
Contents
I. THE BASIC FRAMEWORK.
1. Financial Planning: Why It's Important to You.
2. The Time Value of Money: All Dollars Are Not Created Equal.
3. Financial Statements and Budgets: Where Are You Now and Where Are You Going?
4. Taxes: The Government's Share of your Rewards.
II. LIQUIDITY MANAGEMENT.
5. Cash Management: Funds for Immediate Needs.
6. Short-term Credit Management: Consumer Credit.
III. BUYING NOW AND PAYING LATER.
7. Consumer Durables: The Personal Auto.
8. Housing: The Cost of Shelter.
IV. INVESTING FOR THE FUTURE.
9. Financial Markets and Institutions: Learning the Investment Environment.
10. Investment Basics: Understanding Risk and Return.
11. Stock and Bonds: Your Most Common Investments.
12. Mutual Funds and Other Pooling Arrangements: Simplifying and (Maybe) Improving our
Investment Performance.
V. PROTECTING YOUR INCOME AND WEALTH.
13. Property and Liability Insurance: Protecting Your Lifestyle Assets.
14. Health Care and Disability Insurance: Protecting Your Earning Capacity.
15. Life Insurance and Estate Planning: Protecting Your Dependents.
16. Retirement Planning: Planning Your long-Term Needs.
496 pages Hardcover
Features
For the first course in personal finance, also called Financial Planning or Home Economics
and Finance.
The goal of the text is to address the two most critical tasks present in teaching
personal finance: The first is to have students appreciate the importance of planning and
have a basic understanding of planning techniques. The second is to develop students'
abilities to think critically and to make effective decisions.
Decision-Making approach–Important in this process is the concepts of opportunity costs
and marginal analysis. These topics are introduced and explained in Chapter 1 and are used
extensively throughout the text.
Uses a four-part approach to decision-making that involves setting goals, listing
alternatives, measuring performance, and evaluating achievement.
How do you show students how concepts are applied in practice and in real-world settings?
An illustrative family: The Steeles-Uses a real-world family as a teaching/learning
pedagogical tool throughout each chapter.
Makes course interesting and puts material in a real-world, family setting.
Where do you come up with material to help students actually practice what they are
learning in lecture and in the textbook?
Extensive Chapter-End Materials (Chapter 3)- Steele follow-up, Internet exercises, and
Marie Wilson goal planning exercise spanning Chapters 1,2, and 3.
Helps students with hands-on learning. Makes instructors' jobs easier by providing ample
testing materials.
A flexible outline-Most of the chapters and many chapter subparts are self-contained
units, making their coverage optional.
Designed to be used in different course settings, tailored to the students’ needs.
What do you do to get students to actually apply the concepts they are learning about?
A Goal planning Exercise for a Single Mother. (Chapters 1-3)- Marie Wilson is a single
adult with a four-year old son, trying to get ahead financially on a limited income.
Gives students an opportunity to participate in the important job of framing goals,
planning to achieve them, and budgeting properly to afford them. The Exercise spans
Chapters 1, 2, and 3 with Excel worksheets available at the Winger Companion Website.
An Emphasis on Risk and Return.
In the investment section, risk is treated in such a way that students can use the concept
when making investment decisions. Readers, thus, gain a practical tool as well as an
understanding of the basic principles.
Focus on the Time Value of Money-The growing importance of achieving long-term goals
through investing has increased the need for students to grasp the time value of money.
The explanation and use of these techniques are simple and well within the grasp of most
students.
