Personal Finance Essay

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Personal Finance 1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points) Financial planning helps people to avoid bankruptcy. People will be able to track their expenses and savings. People would not spend more money on goods and services than they can afford. 2. List two examples of goods you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points) I purchased an iPod and some books. 3. List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points) I purchase repair services for my computer. 4. One of the functions of money is as a store of value. How does inflation affect money's ability to store value? (3-6 sentences. 2.0 points) 5. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points) I would like to research the cost of houses over a three year period to determine if it is increasing or decreasing. I would review the unemployment rate to see how many people or without jobs. I would check to see how many companies have gone out of business and the new of new businesses. 6. Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. Describe at least one reason why you think this system is best for consumers. (4-7 sentences. 3.0 points) I like the market economy is because it is free of government regulation and

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