This has been a very interesting semester. We have discussed many phases of economics from both a micro and a macro perspective. My hope for each of you is that you are able to capture concepts from this experience that will assist you with developing a solid personal economic plan and also that you now have an appreciation for the economic drivers as they impact both your personal and professional lives. With this having been said; your final project will address the following areas: The personal financial budget ( Where is the money) List some very clear financial goals for yourself (… they should be S.M.A.R.T.)
Create a personal budget (spreadsheet)
Pay your self first
Set an amount for your emergency savings
Set an amount for your savings
Set an amount to invest monthly
Now set up your lifestyle
Determine if you have access to a company 401K account. If so how will you leverage this opportunity?
List all of your debt, pending debt… create a plan to pay this off
Discuss your plan with all family members, partners who share in your finances
Define for yourself the DOW, bonds, mutual funds, certificates of deposit…
With regard to a mutual fund; what is a prospectus? The time management budget ( Rule of 168) Create a time management budget. Are you making the best use of your time?
How might you make adjustments which will have a positive impact on your goals?
Upon graduation how might you leverage the time that you gain back The 4 Quadrant principle ( Physical, Social, Spiritual, Financial) Define each component of the 4 quad model
Define the persons in your professional and social network and explain how each of these persons will play a role in helping you reach your goals How public policy affects the economy
How do federal and state governments raise money? (…chart showing percentages)
What do you feel are the