Finance 301 - Personal Finance

Textbook: Kapoor, Focus on Personal Finance, 6e

Describe two different term goals: short-term, intermediate or long-term goal.

Short term goal- paying off debt of $2500

Long term goal - saving for retirement

1) Include a discussion of steps 1-4 from text.

2) Include a time value of money calculation for each of the two goals chosen above.

3) Follow the 4 steps from the text and include identifying alternatives and risks.

The 4 steps are: Determine financial situation

Develop financial goals

Identify alternative courses of action

Evaluate alternatives