Assignment 1 Personal

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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) One financial planning skill that I find important to me is a personal budget. Personal budgeting is really important to me because I always want to make sure that I never spend more than I make. It’s difficult to budget yourself but I can now see the rewards of doing so. Secondly I feel that planning a retirement fund sometime in the future and plan to implement a plan soon. I feel that planning a retirement fund early in life will make it so that when I age I can retire on time and comfortably. 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) Clothing. New phone. 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) Car wash. Cleaning service. 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) When inflation happens it affects everyone because it lowers the common value of a dollar. Also makes the product cost more than it’s actually worth. Therefor our dollar will not stretch as far as it once did prior inflation. 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) The three factors that would be important to me would be; employment vs. unemployment rate, average household income,

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