Money Management Skills

Posted on 01 January 2019 by Michael Finke

6 hours 9 minsMoney management can be intimidating, but the good news is that the newest research into the human brain can help us understand why we make mistakes and how we can create an effective plan to meet our financial goals Learning to navigate complex financial markets and create good financial habits is essential to the all important goal of gaining control over our financial future.Money management requires knowledge of financial products, investment and risk theory, and essential tax rules But it also requires an understanding of how we as fallible humans make mistakes These lectures will go beyond the advice of a traditional money management course and delve into the emerging science of financial decision making With this course, you ll learn how to overcome your brain s programming and avoid following your emotions down the wrong financial path.The goal of money management is to maximize our happiness at every stage of our lives Whether you are a novice investor or a seasoned pro, a young person getting started in life or a Baby Boomer contemplating retirement, Money Management Skills is an excellent primer for creating financial security Taught by financial expert and Texas Tech University professor Michael Finke, these 12 practical lectures will boost your confidence around money management This is not a course for big investors looking for the next hot stock Rather, these lectures are for regular people who want to make sound financial decisions without obsessing over the daily changes in the market. Free Download eBook Money Management Skills By Michael Finke – kino-fada.fr A very basic course on personal finance which covers almost all relevant topics including tax, and estate management The tax portion is US centric though The new thing I learn, but do not necessarily agree with, is the life cycle theory The theory advocates for smoothing out consumption over time In addition, the theory is also based on the decreasing marginal utility of money, which means a dollar when you re young and poor is worth a lotthan when you re old and rich The theory A very basic course on personal finance which covers almost all relevant topics including tax, and estate management The tax portion is US centric though The new thing I learn, but do not necessarily agree with, is the life cycle theory The theory advocates for smoothing out consumption over time In addition, the theory is also based on the decreasing marginal utility of money, which means a dollar when you re young and poor is worth a lotthan when you re old and rich The theory advocates forspend...Most of the information here is pretty basic, common sense level advice and instruction that I have already managed to gather over the years, though I did learn a few new things The financial power of a pension, for one I would recommend this lecture series to any young person though, particularly because Finke is reasonable ab...Bad math, bad advice Early in the book, he says something like an average person makes 2.5 million over the course of a lifetime, which means 40k yr So if you re making 40k yr or less, you shouldn t save, because you will presumably makethan this some year, and the goal is to even out the amount of money you make every year.Except this doesn t take inflation into account 40k yr in 2010 is very different from 40k yr in 2050 Accounting for inflation, 2.5 mil translates to 13,319 Bad math, bad advice Early in the book, he says something like an average person makes 2.5 million over the course of a lifetime, which means 40k yr So if you re making 40k yr or less, you shouldn t save, because you will presumably makethan this some year, and the goal is to even out the amount of money you make ev...Very good advice on many different aspects of personal finances Beware if you don t live in the U.S however You ll want to skip a couple chapters which are very country specific.Incredibly helpful Definitely in my top 3 from the Great Courses.The course is very basic and has good insights Highly recommend for youth who has just finished their school before deciding the college There are a lot of things related to the American law which made me feel uncomfortable.This provides a very good introduction to personal financial planning for the general public in the US Actually, the target audience is not the average American making the median household income The course is of most relevance to those in the upper middle class who can afford to live where they do, have no trouble paying off credit card balances at the end of each month, and are not so stressed by their financial situation that they can make long term plans for themselves If you do happen to This provides a very good introduction to personal financial planning for the general public in the US Actually, the target audience is not the average American making the median household income The course is of most relevance to those in the upper middle class who can afford to live where they do, have no trouble paying off credit card balances at the end of each month, and are not so stressed by their financial situation that they can make long term plans for themselves If you do happen to be among this group, then I d recommend the book as a good introduction to financial planning While the course covers what is included in most introductory financial planning curricula, I was surprised by the instructor s endorsement of the life cycle approach to spending This approach suggests that the way to maximize utility, or happiness, throughout you...Great overview of personal finance My only criticism is that I suspect that the life cycle finance theory espoused in these lectures, although logically consistent, might get a lot of people in trouble The idea is smooth consumption over a lifetime, so one could or maybe should transfer money from their older selves to their younger selves by borrowing money when they re young and presumably broke, then paying it back and saving in wh...This review has been hidden because it contains spoilers To view it, click here Struggled through this book because I feel the fundamental theory that this is based on is flawed The author teacher states that it is all about happiness and that your spending is related to your happiness He also bases his theory on the idea that over time your spending capacity will increase In today s society, unless you are in upper middle class or beyond, this is not necessarily true He goes on to state that going into debt early in life is fine because you will makelater in life Struggled through this book because I feel the fundamental theory that this is based on is flawed The author teacher states that it is all about happiness and that your spending is related to your happiness He also bases his theory on the idea that over time your spending capacity will increase In today s society, unless you are in upper middle class or beyond, this is not necessarily true He goes on...Money management is the process of budgeting, saving, investing, spending or otherwise overseeing the capital usage of an individual or group Money management can also be used to have financial stability in your life This book taught me to not just to save money but to invest it into your daily life, one of the main points that really stuck to me was when Michael finke said if you buy something make sure you can buy it 3 and 4 times before you...

English
01 January 2019

Michael Finke