Questions from Personal Finance

Q: What are liabilities? Define current liabilities and long-term liabilities

What are liabilities? Define current liabilities and long-term liabilities.

Q: How does a personal balance sheet help you track your net worth

How does a personal balance sheet help you track your net worth?

Q: What three financial characteristics can be monitored by analyzing your personal balance

What three financial characteristics can be monitored by analyzing your personal balance sheet?

Q: Justin’s stock portfolio increased in value during the year, and the

Justin’s stock portfolio increased in value during the year, and the balance on his mortgage declined. What happened to his net worth over the course of the year?

Q: Lena has just become eligible to participate in her company’s retirement plan

Lena has just become eligible to participate in her company’s retirement plan. Her company does not match contributions, but the plan does average an annual return of 12%. Lena is 40 and plans to work...

Q: Heather purchased a new car for $18,000 three years

Heather purchased a new car for $18,000 three years ago and listed the new car as an asset with a value of $18,000 on her personal balance sheet. She was able to borrow the entire $18,000 to purchase...

Q: What are two factors that impact your cash inflows?

What are two factors that impact your cash inflows?

Q: What two personal financial statements are most important to personal financial planning

What two personal financial statements are most important to personal financial planning?

Q: Define cash inflows and cash outflows and identify some sources of each

Define cash inflows and cash outflows and identify some sources of each. How are net cash flows determined?

Q: Ricardo wants a career where he can help people. He also

Ricardo wants a career where he can help people. He also wants to travel and see the world. He is thinking about becoming a personal care aide. What advice would you give him?