Books on Personal Finance
A First Course
This Book Demystifies the Wealth Building Process
Money Management: A First Course was written primarily for teenagers. There are many books available on financial topics, but few address the teenage audience. Money Management is a textbook that guides the young reader through a wide range of business topics while teaching the principles of personal financial management.
The textbook is arranged in a logical order in the hierarchy of knowledge. For example, to understand an abstract concept like the capital market, we must know such underlying fundamentals as money, prices, supply & demand and the relationships among these variables. To that end, Part One introduces the reader to the study of Economics as it pertains to the analysis and identification of a country's economic systems. Chapter 1 presents an overview of the Canadian economy. Chapter 2 shows how economics is used to understand price movements within the economy. Chapter 3 illustrates the role and importance of money in the economy and Chapter 4 integrates the concepts of money, prices, and purchasing power.
In Part Two, the reader is shown economic activity from the point of view of the business without ignoring the reader's perspective. In other words, the reader is involved in the discussion of business creation in that we have the opportunity to be partners in their success. Chapter 5 identifies the various forms that business can take as well as the financing and financial record keeping required of all businesses. Chapter 6 gives the reader a look at the array of financing vehicles that businesses require and that we can purchase. In Chapter 7, the marketplace of financing is studied showing the process of transferring our savings into capital creating the potential for savings to grow.
Part Three takes the reader step by step through the process of personal financial planning. The first of these building blocks is covered in Chapter 8 in which compound interest is illustrated. Chapter 9 gives the reader a look at what a personal financial plan is and how it is constructed. Financial planning as an industry and a profession is discussed in Chapter 10. In Chapter 11, the reader is shown the fundamentals of mutual funds - what they are and how they benefit the investor. Chapter 12 completes the planning process with a discussion of the meaning and importance of insurance.
Covered in Part Four is the process of entering the workforce. Chapter 13 illustrates how to build a résumé, compose a letter of application, and make a good impression at a job interview. In Chapter 14 readers are presented with practical considerations for starting their own business. Income tax planning is discussed in Chapter 15. Chapter 16 presents a forward-planning approach to exiting the workforce.
Part Five is a brief overview of the economic activities between nations. Chapter 17 explains important concepts dealing with international trade and illustrates the relevance to the reader.
Each chapter is followed by comprehension questions, which assess the understanding of the concepts covered in the chapter. Also included with each chapter is a set of application questions, which are designed to give the reader an opportunity to reflect on and apply the knowledge gained from the chapter.
Parents who teach their children to save are giving them a precious gift. The savings habit makes the building of wealth possible. It is not difficult to build wealth, but it is often seen as mystifying and unattainable. Money Management demystifies the wealth-building process and provides the basic knowledge that can leave the reader with confidence to go forward in that process.
Chapter 1: The Canadian Economy
Chapter 2: Market Theory
Chapter 3: The Canadian Payments System
Chapter 4: Purchasing Power
Chapter 5: Business Organization
Chapter 6: Savings and Investment
Chapter 7: The Capital Market
Chapter 8: Compound Interest
Chapter 9: Starting A Financial Plan
Chapter 10: The Professional Financial Planner
Chapter 11: Investment Funds
Chapter 12: Insurance
PART FOUR: The Income Earning Process
Chapter 13: The Résumé
Chapter 14: Entrepreneurship: Starting Your Own Business
Chapter 15: Income Tax Planning
Chapter 16: Retirement Planning
PART FIVE: International Business
Chapter 17: The Global Marketplace
Money Management-A First Course by H.J. Fluke: 136 pages; softcover; ISBN 978-1-55270-079-2; published in 2002; Canadian $29.95.
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