Lesson 1 - Overview

Lesson 1 - Personal Financial Planning in Action

Objectives

Upon successful completion of this lesson, students will be able to:

LO1.1	Identify social and economic influences on personal financial goals and decisions.
LO1.2	Develop personal financial goals.
LO1.3	Calculate time value of money situations associated with personal financial decisions.
LO1.4	Implement a plan for making personal financial and career decisions.

Overview:

Every person has some money available. However, the amount, along with needs and financial choices, will vary from person to person. In this book, you will have the opportunity to assess your current situation, learn about varied financial paths, and move forward toward future financial security.

Most people want to handle their finances so that they get full satisfaction from each available dollar. Typical financial goals may include buying a new car or a larger home, pursuing advanced career training, contributing to charity, traveling extensively, and ensuring self-sufficiency during working and retirement years. To achieve these and other goals, people need to identify and set priorities. Financial and personal satisfaction are the result of an organized process that is commonly referred to as personal money management or personal financial planning.