Personal Finance?

Just about enough to make a mess!

I've taken care of others interests so, I know enough

Certainly should be taught and understood by high school students in my opinion.

Never have had any money left over to invest after we pay the bills, so... I know enough about personal finance and enough to know I know nothing about investing (so I'd ask my kids if a windfall came my way).

Originally, my husband did all the decision making re: our investments. I knew very little about it.

As soon as I got a computer, and was able to see our holdings on our broker's website, my learning curve has gone BOOM! I'm the one who searches out relevent articles now, and picks stocks!

Isn't it great how you can have your computer call up the banks a update your financial programs! It's even possible with many of the brokers now.

Datamill- My biggest fear is that one day my computer will die on me. I do so many practical things on it, like buying stocks, paying bills. In fact, there are a couple of companies that I deal with that no longer issue paper bills.

Whatever would we all do in a blackout???

Phoenix -

When computers break down and lose data, they can ruin your day. Especially if you use them to earn a living.

I hope I'm covered with a UPS (Uninteruptable Power Supply) and backing up often.

Wonder how many of us back up our financial files on a regular basis?

Stocks?
You don't know frustration till the clock is approaching 4 pm and you're trying to make a stock trade...........SUDDENLY, your connection to the internet is LOST !

My LPTs both have batteries, so if there's a power failure, I'm still OK for 8 hours total, using both computers.

Some general guidelines on Personal Finance: 1) Take responsibility for your own financial management, 2) If you invest, always diversify your investments, 3) Always save something from your income, even if it's a few dollars every pay day, until you have saved three months worth of expenses, 4) Plan a monthly budget that you stick to, come hell or high water, and 5) Begin to study the different investment options available, their risk factors, their long term earnings, mutual funds, bonds, and certificate of deposits. As you accumulate more savings, begin to invest for your retirment, and never say "I'll do that tomorrow." c.i.

c.i.- And the rule that my husband and I have always followed:

Live UNDER your income.

Phoenix, That's the most important rule of financial survival. Most people are in debt up to their eyeballs, and many are wondering what would happen to them if any one lost their jobs. Isn't it interesting that more people fear Al Qaeda, but will do very little to secure their own financial future. The financial pundits are again claiming that the US economy will begin to show some improvement next year, if, if, if, and if. Don't count on it. IMHO, our economy will not improve until 1) the p/e ratios improves (and that's more than a year off), 2) the war with Iraq is settled one way or the other (within the next three or four months), 3) the government institutes an immediate tax cut for all income earners (to take effect for 2003), and 4) consumer confidence improves (up to the 85 to 90 percent range). c.i.

We have to get rid of all the crooked stock brokers, stock analysts and CEO.

New Haven, Easier said than done. Our goverment dropped the ball after they talked a big game about ridding the companies of crooks, but they didn't fund anything to improve it, or create more tough legislation. All talk and no action - as usual for our government. Don't trust them, be skeptical, and manage your own finances. c.i.

That I will do!

Personal finance is just another arena of accepting
complete responsibility for ones's self. I really am a
bit undecided as to WHO should do the teaching, since
parents DO have a responsibility to teach their young
SOME things. I mean - children already learn math in
school....all they actually must do WRT finances - is to
use that skill on the simplest of things, like paying the
bills and managing your own bank account, savings
account etc.
*As for the area of personal finance relating to the very
serious business like funds, stocks, bonds, trading and so
on; this could hardly be considered a responsibility that no
kid leaves high school with. You may elect to study this in
college, or do what the majority of other folks do - put your
money in the hands of a competent and trustworthy personal
finance manager. Just like I would NEVER try to fix my own
car alone. I know I could not ever be able to teach kids
about this topic. This is beyond the scope of things that I
learned in college (chemistry/pharmacy major) - so, as
for repairs on my car, even if it is a young guy who looks
like he is barely out of highschool, chances really are that
he DOES know much more about cars than I do. So, in my
humble opinion....some kinds of financial doings require
delegating-- while others - like the simple balancing of one's
checkbook - certainly ought to be known by the time he or
she leaves high school, regardless of whether they are
in the financial

I took one graduate course in personal finance at a nearby university. i'm thinking of taking another course in investments and portfolio management, if I can get the $$ for the courses.

babs, Although I can agree with the thesis of your post, the management of finances is somewhat different than repairs on your car. If you get five expert car mechanics together to assess the problems of your car, they can probably agree 90 percent of the time. However, if you get five expert financial analysts together to assess the best stocks to buy, you'll get five very different conclusions. Therein lies the difference. It has been shown that throwing darts at the financial pages of the stock market can produce better results than what any financial analyst can recommend. That should tell you something. What is important in managing your own finances is that you understand the important aspects of investments. It's very simple, really. Always diversify. In other words, always have a mix in your portfolio between Cash, Annunities, Bonds, and Equities, depending on your own risk tolerance. It is generally a good rule of thumb to begin changing the risk factor as you get closer to retirement by emphasizing Cash and Bonds over Equities to reduce the risk of losing too much at a time when recovery is lessened. The main thing about personal management of finance is to begin a savings plan as soon as you begin to earn income. As for good stocks, always buy the blue chip companies that have a long history of success such as General Electric, Microsoft, Phillip Morris, Boeing, and some energy companies. Buying mutual funds from Vanguard is also a good idea, because their fees are one of the lowest in the industry, and their performance above average. Good luck. c.i.

In addition to finance, I'm of the opinion that kids in high school should also take a cooking course.

New Haven, Not only cook, but wash their own clothes, iron, and keep the house clean. c.i.