“Research and Markets: Understanding the Mathematics of ... - Forbes” plus 3 more |
- Research and Markets: Understanding the Mathematics of ... - Forbes
- Teaching kids financial skills now sets them up for a ... - The Province
- Research and Markets: The New Savage Number: How Much ... - PR Inside
- How You Too Can Get As Big As Mint.com, As Fast - The Business Insider
| Research and Markets: Understanding the Mathematics of ... - Forbes Posted: 26 Mar 2010 05:22 AM PDT BusinessWire - Research and Markets (http://www.researchandmarkets.com/research/7fa770/understanding_the) has announced the addition of John Wiley and Sons Ltd's new report "Understanding the Mathematics of Personal Finance: An Introduction to Financial Literacy" to their offering. A user-friendly presentation of the essential concepts and tools for calculating real costs and profits in personal finance Understanding the Mathematics of Personal Finance explains how mathematics, a simple calculator, and basic computer spreadsheets can be used to break down and understand even the most complex loan structures. In an easy-to-follow style, the book clearly explains the workings of basic financial calculations, captures the concepts behind loans and interest in a step-by-step manner, and details how these steps can be implemented for practical purposes. Rather than simply providing investment and borrowing strategies, the author successfully equips readers with the skills needed to make accurate and effective decisions in all aspects of personal finance ventures, including mortgages, annuities, life insurance, and credit card debt. Article ControlsThe book begins with a primer on mathematics, covering the basics of arithmetic operations and notations, and proceeds to explore the concepts of interest, simple interest, and compound interest. Subsequent chapters illustrate the application of these concepts to common types of personal finance exchanges, including: Loan amortization and savings Mortgages, reverse mortgages, and viatical settlements Prepayment penalties Credit cards The book provides readers with the tools needed to calculate real costs and profits using various financial instruments. Mathematically inclined readers will enjoy the inclusion of mathematical derivations, but these sections are visually distinct from the text and can be skipped without the loss of content or complete understanding of the material. In addition, references to online calculators and instructions for building the calculations involved in a spreadsheet are provided. Furthermore, a related Web site features additional problem sets, the spreadsheet calculators that are referenced and used throughout the book, and links to various other financial calculators. Understanding the Mathematics of Personal Finance is an excellent book for finance courses at the undergraduate level. It is also an essential reference for individuals who are interested in learning how to make effective financial decisions in their everyday lives. Key Topics Covered: 1. Background Mathematics. 2. Compound Interest. 3. Loan Amortization and Savings. 4. Mortgages. 5. Prepayment Penalties. 6. Credit Cards. 7. Present Value. 8. Comparing Loans. 9. Taxation and Inflation. 10. Life Insurance. 11. Annuities. 12. Reverse Mortgages and Viatical Settlements. 13. Investing: Risk versus Reward. 14 Gambling. 15 Spreadsheet Calculators. 16 Solutions. For more information visit http://www.researchandmarkets.com/research/7fa770/understanding_the SOURCE: Research and Markets Research and Markets Laura Wood, Senior Manager, press@researchandmarkets.com U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Teaching kids financial skills now sets them up for a ... - The Province Posted: 26 Mar 2010 11:34 AM PDT Most of us heard it from our parents: "money doesn't grow on trees," but was that where our financial education at home ended? All too often, that's the case, according to Stacy DeBroff, a parenting author from Boston who recently wrote A Parent's Guide to Raising Fiscally Responsible Children (Simon & Schuster, $12). Despite their good intentions, parents are setting their kids up for a life of financial failure by sheltering their children from hard financial realities. "We have felt enormous pressure to have our kids succeed and to do the best that they can academically, in sports and their outside pursuits. And as a result we have shielded them from discussions about family budgets, about larger issues when it comes to spending, credit and debt, mortgages," she says. In previous generations, children were expected to earn their spending money through part-time jobs. But in recent years, the bubble-wrap trend in parenting culture has pushed parents to give their children a leg up in an uber-competitive world by absorbing all of their children's costs, DeBroff says. She figures all of these changes have led young people to believe they're entitled to all the latest gadgets and fashions. "There's this immediate gratification: 'I really, really want this great pair of jeans,' not 'I can't afford this pair of jeans,'" she explains. This disconnect from the need to budget sets teens up for a shock when they leave home. Suddenly, they face the harsh reality of paying bills for rent, food and often tuition at a post-secondary school. At the same time, their introduction to the joys of magic money — credit cards that only require you to pay off a minimal amount of your debt — can turn minor cash flow problems into long-term debt that sometimes leads to personal bankruptcy. "They often find themselves digging themselves out of a personal finance hole in their 20s," DeBroff says. Parents may think that their children are learning personal finance skills at school, but Darren Weeks, a personal finance guru from Edmonton, didn't mince words when asked if schools are doing enough to educate teens. "Not even close," said the founder of the Fast Track To Cash Flow. "The schools are often seen as a catch-all for education, but parents are the primary educators of their kids when it comes to personal finance," says Janet Sutherland, a spokeswoman for the Calgary Catholic School District. "It's up to parents to reinforce what the kids learn at the schools." Weeks and DeBroff agree that parents are ultimately responsible — young people are much more likely to learn personal finance lessons when they are taught at home, they say. "Oftentimes what you do with money is deeply tied into values," DeBroff explains. So what can parents do to set their children up for a lifetime of good financial decision-making? Start teaching financial lessons as early as possible, say DeBroff and Weeks. DeBroff recommends easing a child into the world of personal finance at age five with an allowance, which can be connected to chores done, so the child learns how much work is valued. This introduces a child to budgeting, usually in the form of setting up a savings account and spending less on immediate wants (candy) in exchange for greater long-term happiness (a new bike). They also learn that bad behaviour or shoddy work (backtalk and clothes on their bedroom floor) can result in the loss of income. Weeks has his own children — Ava, 4, and Connor, 6 — split every dollar they earn from chores into three categories: one-third for long-term savings, one-third for spending and one-third for charity. He also recommends parents encourage their children to play games that revolve around money. These include the classic Monopoly, along with The Money Savvy Pig piggy bank, which has four chambers: Save, Spend, Donate and Invest (msgen.com, $16.99) and The Allowance Game (Lakeshore Learning, $21.99). It's around age 13, however, that finance education needs to ramp up, DeBroff says. How do teens manage money from their part-time job, for example, or those cheques they get every Christmas from Uncle Bob? At this age, it's important to impart a clear sense of what a child's spending habits require them to give up in terms of hours worked and future opportunities lost. More complex personal finance ideas, such as building a credit rating and investing, can also be better understood by teens. Options such as parent-supervised debit and credit cards, and secured or prepaid credit cards, can ease teens into the perilous world of plastic by helping them track and manage their spending. Some even allow parents to set daily, weekly and monthly limits. Even if your child makes some financial mistakes, such as losing all their savings in high-risk investment schemes, it's better they learn their hard lessons before they leave home. "Just like investing, an earlier start leads to a higher finish," Weeks says. Sure, money doesn't grow on trees. But it pays to start early if you want to grow a money tree with deep roots. Making your kid money-wise Here are a few ideas from parenting author Stacy DeBroff to help parents raise children that are financially responsible: - Use the news: Use newspaper headlines to jump-start dinner table conversations about how a lot of people are out of work now and what world leaders are doing to help people find new jobs. These conversations can grow more sophisticated when discussing the economy with tweens and teens. - Tie allowance to chores: This teaches the value of a dollar. Make clear what you expect from your child to earn allowance, what items you expect allowance to cover (movies, treats, online games), and what your child can do to earn extra allowance (special help needed around the house or garden). - Set a savings goal: No matter the amount, nothing speaks to kids more than their very own savings account. - Start young: Let kids know early on that a trip to the store doesn't always mean a treat for them. Explain that you go to the store together each week to buy food for the family, and you can't afford to buy a new toy each time you shop. - Separate necessities from luxuries: Help kids understand the difference between needs (think: food, water and shelter) and wants (think: new fashions and electronics). Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Research and Markets: The New Savage Number: How Much ... - PR Inside Posted: 26 Mar 2010 10:01 AM PDT 2010-03-26 18:01:03 -
Research and Markets ( www.researchandmarkets.com/research/5ce4f8/the_new_savage_num : Nationally known personal finance expert Terry Savage helps you answer the most important retirement questions Throughout the book, Savage helps you figure out how much money you need to retire-your savage number-and how to invest to reach that goal. Then, as retirement looms, she guides you through the process of planning withdrawals so the money lasts your entire lifetime. In between, Savage offers practical advice on everything from getting personal finances organized to insuring retirement plans against the disastrous need for long-term care. An informative, engaging book that future retirees of every age can utilize, The New Savage Number
Key Topics Covered: - Preface to New Edition. Terry Savage has financial expertise that comes from experience. She started her career as a stockbroker and became a founding member of and the first woman trader on the Chicago Board Options Exchange. Terry is a nationally known expert on personal finance and is a regular TV investment and financial markets commentator. She is the nationally syndicated Chicago Sun-Times personal finance columnist and author of three bestselling books. Terry has won numerous awards, including the National Press Club Award, and received two Emmys for her television work. For more information visit www.researchandmarkets.com/research/5ce4f8/the_new_savage_num : Research and MarketsLaura Wood, Senior Manager press@researchandmarkets.com : mailto:press@researchandmarkets.com U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716 Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| How You Too Can Get As Big As Mint.com, As Fast - The Business Insider Posted: 26 Mar 2010 09:25 AM PDT Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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