FNCE 2P50 Lecture Notes - Lecture 2: Safe Deposit Box, Insurance Broker, Cash Flow Statement
13 Oct 2018
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Document Summary
Next week quiz on ch 1-2, multiple choice. Money management refers to the da-to-day financial activities necessary to manage current economic resources while working toward long-term financial security. Financial: the decision to spend funds now, rather than investing the funds until a later date. Personal: a decision where the trade off is time, health or another factor that impacts personal wellbeing. Financial: spend money on a vacation now, or save and invest that money for a new car. Personal: comparison shopping can save you money and improve the quality of your purchases but uses up a valuable resource time. An organized system of financial records provides a basis for: Handling daily business affairs, including paying bills on time. Determining available resources for current and future buying. Many records are kept permanently (birth certificates, wills) Property / investment records are kept for as long as you own the asset.
