Personal Financial Management

 -Your attitude towards money.

Discussion Topic:

1. One of the first steps to becoming financially responsible is to understand your current behavior. The attached file named “Attitudes towards money” and the money attitudes survey ( link to which is https://mccurdyfinancial.com/your-money-attitude/) provide descriptions of various profiles.  Review each profile, identify which one best describes you, and discuss why you think it does. What are the weaknesses or strengths of this type of attitude? Which of the attitudes would you aspire to model and why?

2. After reading Chapter 1 and watching the videos- “How to Avoid Unnecessary Expenses” and “You’re Spending Too Much” and evaluating your current style of managing your finances:

• Review your expenses and identify three flexible expenses that you could reduce or eliminate altogether. Discuss how you can reduce or eliminate these expenses.
• How much do you normally spend on eating outside during the workweek? Using your daily expenditure on eating out, calculate how much you normally spend during a year and over the course of 10 years. What do you think of your findings?

3. List one financial goal you want to accomplish in ten years. How do you plan on accomplishing it?

4. Do you use coupons? How do you assess the use of coupons in reaching your financial goals? Do they really make a difference?

Watch the videos-

Course Text Book Required Text(s): PFIN 7Author(s): Gitman, Joehnk, and BillingsleyEdition: 7thYear: 2020Publisher: Cengage

Additional information: Myself and my spouse both work fulltime/ Plus I go to school fulltime. We usually cook for the 3 times a week for the whole week. Sometimes we order out on a Friday night.

Breakfast is usually made at home before work everyday. Lunch is usually a protein shake or salad made from home. Order once every two week lunch for work.

Financial goal is to lower some credit card debt and loans. We purchased our home 2 years ago. Additional goal with in the ten year is to pay a little more towards the mortgage and try to pay it off in a 15 to 20 year time frame instead of the 30 year mortgage. In addition to start a family with in the next 2 years- adoption is a long and expensive process.

Couponing half of the time. Retailmenot.com or even Goodrx for medication. Shop for deals and promo codes.

Discussion 250 words or more.