Personal Financial Planning

HIGHLIGHTED PRACTICAL EXAMPLES ILLUSTRATE EVERYDAY APPLICATIONS. A series of engaging, practical examples in each chapter demonstrate relevant financial principles in action. Examples include the impact of starting an IRA early, calculating the maximum affordable mortgage, credit card choice trade-offs, homeowner’s insurance policy coverage limits, evaluating mutual funds and exchange-traded funds and the use of life insurance in estate planning.

THE "FINANCIAL IMPACT OF PERSONAL CHOICES" EXAMINES AN IMPORTANT DECISION RELATED TO EACH CHAPTER'S CONTENT. This learning feature presents a personal financial planning decision related to an important topic in each chapter. Students review and evaluate the outcome.

THOROUGH UPDATES OFFER A MORE PERSONAL TOUCH TO THE SUBJECT MATTER. The friendly tone helps relate big financial ideas to students’ everyday lives, based on the latest research and input from practicing professionals and leading instructors. The book continues to emphasize the validity and importance of key principles of personal financial planning, including saving, diversifying investments, watching expenditures and borrowing carefully.

FRESH, INVITING DESIGN SUPPORTS THE READER'S UNDERSTANDING. Based on feedback from current instructors, financial planners and students, this edition incorporates numerous updates and a fresh design to ensure that the book presents financial information in a clear, concise and understandable manner. Updated, practical sidebar discussions provide useful tips and guidelines and numerous learning features reinforce this edition's inviting design.

UPDATED "FINANCIAL ROAD SIGNS" AND FINANCIAL PLANNING TIPS OFFER VALUABLE HINTS AND SUGGESTIONS FOR FINANCIAL DECISIONS. These brief, helpful "Financial Road Signs" and "Financial Planning Tips" suggest what students should consider when implementing parts of a financial plan or making personal financial decisions in today’s times. This invaluable financial advice walks students through developing budgets, handling student debt, conducting online banking, purchasing vehicles, using debit cards, buying health or life insurance and investing.

STUDENTS RELATE TO PRACTICAL CHAPTER CONTENT IMMEDIATELY. A "How Will This Affect Me?" feature at the beginning of each chapter explains in plain language why readers will find the chapter’s topics relevant to their lives. Each chapter also opens with a series of "Financial Fact or Fantasy" statements that engage and prompt students to critically evaluate financial information and assumptions. A “Do It Now” feature provides action items that provide guidance on what the reader can do to immediately explore and apply financial planning concepts in the current environment.

PERSONAL FINANCIAL PLANNING FOR HUMAN BEINGS. The “Behavior Matters” feature explores how our psychology affects our financial planning decisions for better or worse and how to take it into account to consistently make better decisions.

STUDENTS SEE A ROAD MAP FOR THEIR FINANCIAL FUTURE. The “Planning Over a Lifetime" feature at the end of each chapter shows how the given financial tools allow them to best adapt to changes over a lifetime.

UPDATED END-OF-CHAPTER FEATURES ENSURE COMPREHENSION AND APPLICATION. Useful summaries at the end of each chapter review learning goals and connect to concepts within financial planning exercises and critical-thinking cases. Students test and apply their understanding with out-of-class projects, exercises and worksheets designed to help manage personal finances. They also make personal financial planning decisions related to chapter topics and evaluate the outcomes.

"WORKING WITH A FINANCIAL ADVISOR" FEATURE IS STRATEGICALLY INTEGRATED ACROSS THE BOOK. This helps to target next steps in applying personal financial planning to students’ lives going forward. A new appendix on “Using Spreadsheets” has also been added. This illustrates how financial planning concepts may be applied using the data in the book and the personal financial data of students.