The Personal Finance Class Through Dame Ramsey s...

Whew, where to start? The personal finance class through Dame Ramsey’s Foundations in Personal Finance textbook and video series really had a lot of useful information, and it is hard to pick out the most impactful chapters and topics. However, I think the most important stuff for me was his five foundations for financial success, which were reinforced throughout the course. I am not downplaying the other important stuff in the course, including learning about the history of credit, budgeting, consumer awareness, investing, insurance, and taxes, but I think that mastering the fundamentals is important, which is why I am choosing to highlight them in this paper. The first foundation (at least for us teenagers) is to establish a $500 emergency fund. For adults, the recommended amount is 3-6 months of expenses, but the principle remains the same. The emergency fund allows you to always have money to cover surprise expenses, avoiding having to go into debt during an emergency situ ation. To do this, you simply create a bank account separate from your regular checking or savings accounts, put money in, and only bring money out of it in the most dire of circumstances. It may be tempting to use that money for some kind of fancy pecuniary investment, but you should think of it as more of an insurance than an investment. As for how I am applying this to my life, I have set aside $600 in the bank (away from my regular account) that I will not touch until there is a large enoughShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesOrganizational Behavior This page intentionally left blank Organizational Behavior EDITION 15 Stephen P. Robbins —San Diego State University Timothy A. Judge —University of Notre Dame i3iEi35Bj! Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Director of Editorial Services: