Question

What skills and knowledge do you hope to obtain by taking the Personal Finance course?

Answer 1

What skills and knowledge do you hope to obtain by taking the Personal Finance course?

How Credit Cards and Interest Rates Work

Credit can be a useful tool when you are paying it back every month. However, interest on credit can work against you when you carry a heavy balance.

Following knowledge can be gained:

a) you have to pay back every dollar you charge.

b) credit card interest accrues daily when you carry a balance and

c) your interest rate can play a huge role in your monthly bill if you aren’t paying your charges completely off each month.

How to Balance a Checkbook

While the days of writing checks for most bills are clearly over, young people still should learn how to balance a checkbook. Even if they stick to debit and credit, they could really benefit from learning how to manage their cash flow and outflow to avoid overdraft fees. A lesson on online bill pay services might also help students who lean on technology to manage their money

Budgeting Basics

Budgeting is one of the most important skills anyone can learn.

The Power of Compound Interest

By putting even small sums of money in a high-interest savings account while they’re young, high school students, graduates and college students can start building wealth that will compound over and over again.

How to Build Credit

Your credit score is an important part of your overall financial health, and it can make a huge difference in how you manage your finances as an adult. With good credit on your side, it’s a lot easier to buy a house or qualify for an apartment. With bad credit (or no credit), on the other hand, most of life’s biggest milestones can be harder to reach.

Investing and Stock Market Basics

It’s important for students to know the difference between safe investing and investing scams. While investing with a reputable company like Vanguard or Fidelity can be smart, young people need to know to choose reputable firms when investing their money. It pays to research any company you plan to invest with, read reviews, and make sure you know what you’re getting into.

Those students looking for a more conservative investment option should consider investing in established companies, or a compound of companies called a mutual fund. This is a longer-term investment strategy that could grow money over the decades consistently.

How to Start a Business

When people don’t know better, they don’t do better.