>> Finance Basics
a) Describe 2 situations in which you could use time value for money calculation for achieving various personal financial goals.
b) Provide 2 specific actions you can take to help achieve various financial goals.
Amongst the 6 steps of the financial planning process, there are the following 2 steps
a) Evaluating alternatives
b) Review and revise the plan
Explain and articulate what each of the above 2 steps covers and why they are important and significant part of the overall financial planning process
a) How might financial ratios be used when planning and implementing personal financial activities. Give 2 illustrative examples.
b) explain the impact of high debt ratio and low saving ratio on a personal family budget.
a) As part of effective budgeting plan is to review Spending and Saving Patterns. Explain what this involves and why it's an important process in the overall budgeting plan.
b) What are the long-term effects of low savings for both the individual investor and the overall economy?