Personal Finance Essay Example for Free

Personal Finance searchPersonal finance addresses the way an individual or families earn, budget, save, and spend coin gained from employment, loans, or gifts. As a college student, my personal finances are based upon money I have obtained, seasonal employment and maternal support. In creating my budget, I had to realize that my income was non the same each month so I had to own sure I had enough money to pay for my gas, phone bill, and entertainment. Some measure I would go oer budget due to unexpected bills so I would ask for help from my parents. I utilize a debit tease apart through my cashbox City National Bank.I chose this bank because my parents also bank there and its a small personal bank. It makes it easier if I need my mom 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 sim ilar to the on in The Money 101 learner Workbook. The format is a little different, but the same kind of information is given. I do not stop a register much to my mothers dismay.Every Christmas, she gives me a register to keep track of my disbursal 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 revision banks, I would choose a bank that would be in Marshall and has the small town note to it. I would also want one that might offer interest 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 possibly spending what you mountt have.You can also abuse a credit card and use it unnecessarily. I did check on annualcreditreport. com to see if I had a credit report, but I do not because I dont have any accounts in my name. The best card be intimate I found was on chase. com because if I put my name on my parents account then I could also have their 8. 99% interest rate. There were downs of credit card offers that had 0% precedent 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 thievery insurance would probably be a good insurance protection. The thing that stuck out to me when Mike Brady came and wheel spoke was the concept of proficient coverage insurance for your car, he said that its only an interpretation and not something that is written 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 access 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 to ok in the back of the booklet was fairly easy after looking through this so many times I answered a credit card would be the one to hurt you the most when in detail it says the student loans would affect your credit score 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 long as I can remember. The thing I learned from this unit, just to point one out, was the savings and retirement readying I didnt realize it was such a priority because at my age you really dont think about those things but Ive learned that I do need to trip early.