Personal Finance Essay

Personal finance addresses the way an individual or families earn, budget, save, and spend money gained from employment, loans, or gifts. As a college student, my personal finances are based upon money I make water obtained, seasonal employment and parental support. In creating my budget, I had to actualize that my income was not the same each month so I had to make sure I had enough money to pay for my gas, phone bill, and entertainment. Sometimes I would go over budget due to unexpected bills so I would ask for help from my parents. I use a debit observance through my bank 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 milliampere to transfer money to my sum up 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 similar to the on in The specie 101 Student Workbook. The format is a little different, but the same kind of information is given. I do not keep a present much to my mothers dismay.Every Christmas, she gives me a register to keep track of my spending 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 change banks, I would choose a bank that would be in Marshall and has the small town feel 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 source card because it takes money out of your account instead of possibly spending what you hold outt have.You can also abuse a realisation 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 deal I found was on chase. com because if I put my name on my paren ts account then I could also have their 8. 99% interest rate. There were lots of credit card offers that had 0% introductory rates, but since I have no credit, then the interest rate would rise dramatically.Some insurance policies that would be important for personal finance would be disability insurance, car insurance, and wellness insurance. Identity theft insurance would probably be a good insurance protection. The social occasion that stuck out to me when Mike Brady came and spoke was the concept of full report suppurate 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 privacy plan would be to match whatever my company is putting into my 401K and putting money into stock that I can draw from when I actually do retire. The test that we took in the back of the bookl et 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 fact 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 planning 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 start early.