Personal Finance Essay

263 Words2 Pages
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 skills can help you acquire more in terms of finance and can also help you secure what you have. When you have skills to plan, you are aware of how to manage your account by adding on your profit. Securing what you have is important as it ensures that you do not go broke. 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 bought a skateboard and a xbox 360. 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 hired a mechanic to fix my dirt bike and I paid the lady at the skate shop to build my board. 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) inflation can decrease the value of money over time. Inflation is when the value of money goes down, so that you can't get as much for your money as you could in the past. If inflation is increasing, which means the value of money is going down, it may make more sense to invest the money in investments that are likely to increase in

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