The main feature of Personal Finance is its hands-on approach keyed to the concepts students need to build their own financial plans. The text’s seven parts are all pieces of a financial plan; Chapter 21 is the capstone. A running example throughout the book and a variety of end-of-chapter cases reinforce the practical aspects of planning. The 7th Edition is fully updated with recent financial trends, such as lower interest rates, changing salaries, and rules for credit card use. With case studies and workable examples throughout, this book is an active tool students can use to become comfortable managing their finances into the future.
A running example throughout the text walks students through the financial story of the fictitious Stephanie Spratt, a recent college graduate and new entrant into the workforce, helping them apply the material to real-life scenarios.
Chapter Introductions provide interest-grabbing scenarios that preview the chapter’s content.
Learning Objectives correspond to the chapter’s main headings and guide students through the material.
The Psychology of Personal Finance explains how financial planning decisions are affected by psychology.
Chapter Summaries present the key points of the chapter to aid in student study.
Ethical Dilemmas showcase real-life ethical situations, along with questions, to encourage students to think critically about ethics 1. Overview of a Financial Plan
PART 1: TOOLS FOR FINANCIAL PLANNING
2. Planning with Personal Financial Statements
3. Applying Time Value Concepts
4. Using Tax Concepts for Planning
PART 2: MANAGING YOUR LIQUIDITY
5. Banking and Interest Rates
6. Managing Your Money
7. Assessing and Securing Your Credit
8. Managing Your Credit
PART 3: PERSONAL FINANCING
9. Personal Loans
10. Purchasing and Financing a Home
PART 4: PROTECTING YOUR WEALTH
11. Auto and Homeowner’s Insurance
12. Health and Disability Insurance
13. Life Insurance
PART 5: PERSONAL INVESTING
14. Investing Fundamentals
15. Investing in Stocks
16. Investing in Bonds
17. Investing in Mutual Funds
18. Asset Allocation
PART 6: RETIREMENT AND ESTATE PLANNING
19. Retirement Planning
20. Estate Planning
PART 7: SYNTHESIS OF FINANCIAL PLANNING
21. Integrating the Components of a Financial PlanJeff Madura, Emeritus Professor of Finance; Florida Atlantic University
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