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*Personal Financial Literacy Resource Guide*

Chapter 1 Introduction

This chapter provides the foundation for Focus on Personal Finance and the study of financial planning. The chapter starts with a discussion of social and economic factors that make up the financial planning environment. Next, the main components of financial planning (obtaining, planning, saving, borrowing, spending, managing risk, investing, and retirement and estate planning) are discussed. This is followed by guidelines for creating personal financial goals. Then, the opportunity costs, or trade-offs, of decisions are considered in relation to personal and financial resources. This is followed by coverage. Finally, an overview of the financial planning process along with strategies for creating and using a financial plan are introduced.

LO 1.1: Identify social and economic influences on financial literacy and personal financial decisions (Social Influences)

LO 1.1: Identify social and economic influences on financial literacy and personal financial decisions (Economic Influences)

LO 1.1: Identify social and economic influences on financial literacy and personal financial decisions (U.S. History, The Constitution and Other Founding Documents)

LO 1.1: Identify social and economic influences on financial literacy and personal financial decisions (Federal Government Info)

LO 1.1: Identify social and economic influences on financial literacy and personal financial decisions (Who are my State government representatives?)

LO 1.1: Identify social and economic influences on financial literacy and personal financial decisions (Voting Information)

LO 1.2: Develop personal financial goals

https://www.fns.usda.gov/resource/expenditures-children-families-reports-all-years
Click on the link above to see the USDA's detailed reports over the years. The summary info above is from the 2015 report issued in 2017.
Summary blog: https://www.usda.gov/media/blog/2017/01/13/cost-raising-child 

LO 1.3: Calculate time value of money situations to analyze personal financial decisions

Time Value of Money Calculator

LO 1.4: Implement a plan for making personal financial and career decisions (Your Interests and Personality)

LO 1.4: Implement a plan for making personal financial and career decisions (Your Network)

CPCC Career Services Resources and LinkedIn Profile Development Resources :

LO 1.4: Implement a plan for making personal financial and career decisions (Research Careers)

LO 1.4: Implement a plan for making personal financial and career decisions (Research College Majors)

Value of a College Degree Calculator

LO 1.4: Implement a plan for making personal financial and career decisions (Job Hunting)

LO 1.4: Implement a plan for making personal financial and career decisions (Interview Help)

LO 1.4: Implement a plan for making personal financial and career decisions (Understanding Your Employee Benefits)

Additional Help

Step by Step Research Guide Citation Help Tutorials