Researching Personal Finance on the Internet. Using Web sites such as www.money.com, www.quicken.com, or www.kiplinger.com and search engines, obtain information about commonly suggested actions related to various personal financial planning decisions. What are some of the best sources of information on the Internet to assist you with financial planning? (Obj. 1)
Comparing Financial Planning Actions. Survey friends, relatives, and others to determine the process they use when making financial decisions. How do these people measure risk when making financial decisions? (Obj. 1)
Using Financial Planning Experts. Prepare a list of financial planning specialists (investment advisers, credit counselors, insurance agents, real estate brokers, tax preparers) in your community who can assist people with personal financial planning. (Obj. 1, 3)
Setting Financial Goals. Using Sheet 3 in the Personal Financial Planner, create one short-term and one long-term goal for people in these life situations: (a) a young single person, (b) a single parent with a child age 8, (c) a married person with no children, and (d) a retired person. (Obj. 2)
Analyzing Changing Life Situations. Ask friends, relatives, and others how their spending, saving, and borrowing activities changed when they decided to continue their education, change careers, or have children. (Obj. 3)
Researching Economic Conditions. Use library resources, such as the Wall Street Journal, www.businessweek.com, or other Web sites to determine recent trends in interest rates, inflation, and other economic indicators. Information about the consumer price index (measuring changes in the cost of living) may be obtained at www.bls.gov. Report how this economic information might affect your financial planning decisions. (Obj. 3)
Comparing Alternative Financial Actions. What actions would be necessary to compare a financial planner who advertises “One Low Fee Is Charged to Develop Your Personal Financial Plan” and one that advertises “You Are Not Charged a Fee, My Services Are Covered by the Investment Company for Which I Work”? (Obj. 4, 5)
Researching Financial Planning Software. Visit software retailers to obtain information about the features and costs of various personal financial planning activities. Information about programs such as Microsoft Money and Quicken may be obtained on the Internet. (Obj. 5)
