Interest32811

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Interest32811

  1. 1. Family Budget Review Describe The Following… <ul><li>Fixed VS Flexible Expenses </li></ul><ul><ul><li>Differences </li></ul></ul><ul><li>Problems you faced </li></ul><ul><ul><li>Family Issues? Money Issues? Etc. </li></ul></ul><ul><li>Things that surprised you </li></ul><ul><ul><li>Cost of things </li></ul></ul>
  2. 2. <ul><li>Fixed </li></ul><ul><ul><li>Rent </li></ul></ul><ul><ul><li>Utilities </li></ul></ul><ul><ul><li>Car Payments </li></ul></ul><ul><li>Flexible </li></ul><ul><ul><li>Groceries </li></ul></ul><ul><ul><li>Allowance </li></ul></ul><ul><ul><li>Cable </li></ul></ul>
  3. 3. Problems you faced… <ul><li>Money </li></ul><ul><ul><li>Saving - PAY YOURSELF FIRST </li></ul></ul><ul><ul><li>Not enough for Fixed? </li></ul></ul><ul><ul><li>Not enough for Flexible ? </li></ul></ul><ul><ul><li>Too much money? </li></ul></ul><ul><li>Family issues </li></ul><ul><ul><li>Were they related to money? </li></ul></ul>
  4. 4. Surprises <ul><li>Costs </li></ul><ul><ul><li>Higher </li></ul></ul><ul><ul><li>Lower </li></ul></ul><ul><li>Unexpected Expenses </li></ul>
  5. 5. Interest
  6. 6. Interest <ul><li>The fee charged by a lender to a borrower for the use of borrowed money </li></ul><ul><ul><li>Examples… </li></ul></ul>
  7. 7. Interest Rate <ul><li>Percent charged or paid for the use of money </li></ul><ul><ul><li>Examples… </li></ul></ul>
  8. 8. Types of Interest <ul><li>Simple Interest </li></ul><ul><ul><li>I = P x r x t </li></ul></ul><ul><li>Compound Interest </li></ul><ul><ul><li>A(t) = A 0 x (1 + r/n)n x t </li></ul></ul>
  9. 9. Mutual Funds <ul><li>A professionally managed type of collective investment that combines money from many investors to buy stocks, bonds, securities etc </li></ul><ul><ul><li>Pros -Manager, split costs, low risk </li></ul></ul><ul><ul><li>Cons -Manager, low risk-low reward </li></ul></ul>

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