Personal Finance Essay

Personal finance addresses the way an individual or families earn, budget, save, and spend money gained from booking, loans, or gifts. As a college student, my private finance are based upon money I obligate obtained, seasonal employment and parental support. In creating my budget, I had to realize that my income was non the same severally month so I had to make sure I had plentiful money to pay for my gas, phone bill, and entertainment. Some times I would go everywhere budget due to unexpected bills so I would ask for serve well from my parents. I use a account card finished my lodge City National Bank.I chose this bank because my parents withal bank there and its a small personal bank. It makes it easier if I need my mammy to transfer money to my account in case of an emergency. I do not use checks only my debit card and occasional cash, the debit card pulls money out of my account somewhat like a check. I do check my account online, and my statement looks similar to the on in The Money 101 Student Workbook. The format is a midget different, scarce the same kind of information is given. I do not keep a register much to my mothers dismay. every(prenominal) Christmas, she gives me a register to keep track of my spending but I fail to use it. I do track my spending through balance inquiries that I receive via the ATM, as well as online. If I wanted to change banks, I would choose a bank that would be in Marshall and has the small town feel to it. I would also want one that might offer interestingness on my account. I didnt find any new information concerning debit cards, but I do prefer a debit card to a credit card because it takes money out of your account instead of maybe spending what you dont have.You can also abuse a credit card and use it unnecessarily. I did check on annualcreditreport. com to actualise if I had a credit report, but I do not because I dont have any accounts in my name. The dress hat card deal I found was on chase. com because if I enjoin my name on my parents account then I could also have their 8. 99% interest rate. There were lots of credit card offers that had 0% introductory rates, but since I have no credit, then the interest rate would rise dramatically.Some restitution policies that would be important for personal finance would be disability insurance, car insurance, and health insurance. Identity larceny insurance would probably be a good insurance protection. The issue that stuck out to me when Mike Brady came and spoke was the concept of full coverage insurance for your car, he said that its only an interpretation and not some occasion that is write down, he also stated that there is no such thing as full coverage.I would probably put my savings in the savings account in my bank since I would have entryway to it. My retirement plan would be to match whatever my company is move into my 401K and putting money into stock that I can draw from when I actually do retire. The test that we took in the back of the booklet was sanely easy after looking through this so many times I answered a credit card would be the one to combat injury you the most when in fact it says the student loans would affect your credit agree more.My parents educated me very well on a lot of these subjects especially budget and checking account, my mom has preached to me about having a budget for as grand as I can remember. The thing I conditioned from this unit, retributory to point one out, was the savings and retirement planning I didnt realize it was such a priority because at my age you truly dont think about those things but Ive learned that I do need to start early.