About This Chapter
Principles of Personal Finance - Chapter Summary
Explore useful topics in personal finance using these descriptive yet easy-to-understand lessons. Our expert instructors will define and explain principles, including stocks and bonds, loans, mortgages and even health insurance, in relation to personal finance.
Through the lessons in this chapter, you'll calculate monthly loan payments, effective annual rate and the value of an annuity. You'll also evaluate sources of retirement income, cost of living expenses and measure standard of living. In addition to these relevant principles, this chapter also covers:
- Demand deposit
- Financial investments and performance
- Unsought products
- Consumer income and disposable income
- Career costs and benefits
Upon thoroughly studying these principles of personal finance, utilize the brief multiple-choice lesson quizzes and more comprehensive chapter exam to gauge your understanding of these concepts. Each quiz contains embedded links that allow you to review specific topics within the lesson. You can also print quiz worksheets and transcripts for video lessons for offline study material. Should any questions arise as you progress through the lesson, instructors are always available to help.
1. Demand Deposit: Definition & Overview
Most people with bank accounts have demand deposits even if they don't know it. In this lesson, you'll learn what a demand deposit is and some related concepts. You'll also have a chance to take a short quiz after the lesson.
2. What is a Financial Investment? - Definition, Types & Examples
Learn about the basics of financial investments and some of the key terminology that is important to understand. Find out about some of the most common types of financial investments and the unique attributes of each.
3. Stocks: Understanding Investment Performance
Many large companies around the world are owned by the public in the form of stocks. Watch this video lesson to learn how stockholders earn money when the company does well.
4. Bonds: Understanding Investment Performance
In this video lesson, you will learn how to calculate the worth of a bond over time. Learn how interest payments are calculated. See just how much money can be earned from keeping a bond over time.
5. Preferred Stock: Understanding Investment Performance
After watching this video lesson, you will understand the differences between preferred stocks and regular stocks. You'll also learn how to calculate your dividends and earnings on your stocks when you sell them.
6. What Are Short-Term Investments? - Definition & Examples
Learn more about short-term investments, their definition, time frames, and associated risk. Find out what defines an asset as liquid and what is classified as a short-term investment.
7. How to Find the Value of an Annuity
Want to see how much money you will have in the future if you make a set payment every month towards your annuity? Then watch this video lesson for the formula and how to use it.
8. What is a Loan? - Definition, Types, Advantages & Disadvantages
Learn what a loan is and some of the most common types of loans that people get. Find out which loans are best for different situations and some of the advantages and disadvantages of getting a loan.
9. What is a Mortgage? - Definition & Purpose
Learn about one of the largest loans most people will ever encounter. Find out about the key elements to a mortgage and how a mortgage works when buying a home.
10. Calculating Monthly Loan Payments
Watch this video lesson and learn how you can calculate your monthly payment when you are thinking of purchasing a car. Okay, you can also use this formula whenever you are getting a loan!
11. Effective Annual Rate: Formula & Calculations
After watching this video lesson, you will understand how the interest rate that financial institutions, such as credit card companies, give you work. Also, learn how this interest rate may be different than the one you actually end up with.
12. Health Insurance: Types & Concept
Did you know that there are an estimated 1 billion health insurance claims filed each year? Learn more about the different types of health insurance that are available in the United States.
13. Health Insurance and Health Care: Overview, Roles & Regulations
This lesson will explain the major aspects of health insurance and its role in your health care costs. We will discuss premiums, deductibles, coinsurance, copays, and more!
14. Unsought Products: Definition & Examples
If you have ever wondered why life insurance salespeople earn high commissions, it's because they sell unsought products. In this lesson, you'll learn about unsought products and be provided some examples. You'll also have a chance to take a short quiz.
15. Consumer Income: Definition & Statistics
Consumer income is crucial for the functioning of our consumer-based economy. In this lesson, you'll learn what consumer income is, examine some related concepts, and see some relevant statistics.
16. What Is Disposable Income? - Definition & Explanation
Most businesses need customers with disposable income and also need disposable income themselves to grow. In this lesson, you'll learn what disposable income is and discover some important related concepts. A short quiz will follow.
17. Sources of Income in Retirement
In this lesson, learn several key ways that older adults pay their bills after retiring from work. You'll see how people can have different experiences in funding their retirement.
18. What is Cost of Living? - Expenses & Overview
Most everyone would like a COLA, and we're not talking about soft drinks. In this lesson, you'll learn what cost of living is and some of its key concepts. You'll also have a chance to take a short quiz.
19. Standard of Living: Definition & Measurement
You've probably heard about the concept of standard of living and how it varies between different countries. In this lesson, you'll learn about what standard of living is and how it can be measured.
20. Evaluating a Career's Cost and Benefits
Choosing a career takes a lot of thought. One way to consider different careers to to compare the cost and benefits of them. Watch this lesson to figure out how to determine the return on investment for different careers.
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Other chapters within the GACE Business Education (542): Practice & Study Guide course
- Ethics in Business
- Understanding Contract Law
- Government Regulation of Business
- The Ethics of Advertising, Marketing & Privacy
- Property Law Basics
- Employment Law
- Collective Bargaining & Unions
- Workplace Communication
- The Central Bank & Monetary Policy
- Economic & Political Systems
- Basics of Economics & Finance
- Economic Indicators
- Fiscal & Monetary Policies in Economics
- International Trade Laws & Regulations
- Financial Management & Planning
- Fundamentals of Money & Banking
- Securities Market Basics
- Creditors' Rights in Business Law
- Negotiable Instruments
- Insurance & Managing Risk
- Business Planning & Organizational Design
- Organizational & Group Behaviors in Business Management
- Management Styles & Theory
- Leadership and Management
- Motivation in Business Management
- Strategic Decision Making & Problem Solving
- Work Groups & Teams
- Human Resources Basics
- Employee Benefits
- Production & Operations Management
- Computation in Business
- Basic Statistical Analysis for Business
- Quantitative Analysis in Business
- Accounting Fundamentals
- Customer Relationship Strategies & Maintenance
- Starting a New Business
- E-Commerce Business Models
- Use of Information Systems in Business
- Business Software
- Network Systems Technology Overview
- Information Security & Protection
- Career & Professional Development in Business
- GACE Business Education Flashcards