About This Chapter
Financial Resource Management - Chapter Summary
If you're looking for an overview of financial resource management methods, this chapter is for you. These simple video lessons show you fundamental concepts that can help individuals better manage their financial resources. As you work through the chapter, you can expect to study financial asset types, liquidity and credit, financial goals, economic needs and more. Upon completion of the chapter, you should be able to:
- Compare several types of financial assets, including money, stocks and bonds
- Explain how personal assets and liabilities relate to net worth
- Evaluate liquidity and credit in regards to money management
- Recognize the components of effective financial goals
- Differentiate between economic needs and wants
- Determine how personal finance is affected by fiscal and monetary policy
These video lessons are typically less than ten minutes in length, which helps you quickly move through the chapter and take away essential finance concepts. Be sure to take the chapter exam, and feel free to submit questions to our instructors if you need any help with the lesson material. Your dashboard keeps track of your progress, and each lesson comes with a printable word-for-word transcript.
1. Types of Financial Assets: Money, Stocks & Bonds
For an economy to operate effectively, consumers and businesses need a common medium of exchange and mechanisms to encourage some people to save, others to borrow and others to invest. In any modern economy, these needs are met with money, stocks and bonds.
2. Net Worth: Personal Assets & Liabilities
In this lesson, we'll discuss the components of a balance sheet: assets, liabilities and net worth. We'll define each, discuss the sub-categories and provide examples.
3. Money Management: Liquidity & Credit
Whether it's for your small business or your personal finances, liquidity and credit are two critical financial concepts you need to understand. In this lesson, we'll define these two terms and discuss what they mean to you.
4. Financial Goal: Definition & Examples
In this lesson, you will learn what financial goals are as well as look at some examples. Goal length and the steps to achieving financial goals will be discussed.
5. Economic Needs and Wants: Definition & Concept
Everybody needs certain things, and everybody wants certain things. In this lesson, you'll learn about needs and wants from an economic perspective and explore different ethical considerations.
6. Effects of Fiscal & Monetary Policy on Personal Finance
In this lesson, we'll define fiscal and monetary policy. We'll discuss the difference between loose and tight monetary policies and show you how each one can affect your personal finances.
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