• General

    • Instructor Guidance Page

      Why Study Personal Finance?

      Many feel they have a good handle on personal finance, that all they need is more income. Creating a budget is a waste of time, and investing is for the wealthy. Too often people will see something on sale and pay for it on their credit card feeling they have saved money. These are misconceptions that result in financial stress and problems.

      Take a short journey into the facts and data that will show why personal financial management is important, and gain insight into what you can accomplish with what you have, and how to effectively reduce debt, build credit, and prepare you for the increase in income so the increase can be managed wisely to maximize the long-term positive impact on your financial well-being.


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Debt and Credit

  • Debt and Credit

    • Debt and Credit, what are they? Page

      Most people think of credit as the amount of "credit" they have on their credit cards. Sadly, this is not the case we are referring to. Credit in the context we are using refers to debt like a mortgage where the item being paid for increases in value. This builds wealth instead of losing value. Let's look at two examples:

      Debt:

      You purchase a car and have a monthly payment. The longer you have the car, the less value it has. This is an example of debt.

      Credit:

      You purchase a house or property and have a monthly payment. The longer you hold the property, the more it is worth (it builds equity). This is an example of credit.

      Remember, credit is good, debt is bad. Keeping this in mind will help you improve your financial standings greatly.

      Watch the enclosed video and respond to your peers in the discussion forum, sharing your thoughts and responding to theirs.


◄Expenses by Type