Make sure you are using Headers 2 (==H2==) and Headers 3 (===H3===).
In the What's Covered section, for each numbered line, add:
#<a href="(insert #Name_of_the_Header_with_underscores_and_placement">Name of the Header</a>
OR
##<a href="(insert ##Name_of_the_Subheader_with_underscores_and_placement">Name of the Subheader</a>
Examples:
Header 1: To link the first section Putting a Price on Success, you will type:
#<a href="#1_Putting_a_Price_on_Success">Putting a Price on Success</a>
Header 2: To link the first subsection from section 3, you will type:
##<a href="#3a_Track_Expenses_and_Income">Track Expenses and Income</a>
Money won’t make you happy on its own, but having the knowledge you need to take control of your personal finances will make your life a whole lot more enjoyable. Whether it’s affording your own education or saving to pay for your children’s, empowering yourself to achieve your personal and professional goals means thinking critically about your economic resources and making smart decisions for the future.
Economics is the study of how societies produce, consume, and exchange health and resources. Every decision you make about using or conserving resources ties to economics and your problem solving skills. Understanding the basics of economics puts you in a better position to make wise choices about your personal finances. Personal finance is about how you as an individual, or a family, make decisions around budgeting. This includes what you choose to buy, what you decide to save, and anything that relates to allocation of your resources and wealth. By understanding personal finance, you can equip yourself to make strategic, future-oriented choices about your resources.
A financial plan is a personal document that details all the financial information you have—such as your cash flow, savings, debt, investments, and insurance. A financial plan should also include your personal goals (like buying a house), help you prioritize those goals, and allow you to strategize on how you’re ultimately going to reach them. A financial plan can help you stay agile in the face of challenges (like changes in your income) by giving you the information you need to pivot and still stay on track. If Shia had created a financial plan, it might look similar to the one below.
As you begin preparing your financial plan in this course, here are some simple techniques you can use to improve your productivity skills and reach your financial goals.
If you want to see where your money is going rather than guessing, keep a daily record of all your financial transactions, including paychecks and bills. Below are some common third-party applications that professionals use to track their expenses.
If you’re like most people, you appreciate saving money. Lowering your expenses reduces the amount of money that’s owed to others.
You can also apply basic mathematical guidelines to lower your expenses. Try the 50/20/30 rule (Hayes, 2019). This easy-to-follow budget organizes your income like this:
These simple techniques will bolster your personal financial plan and help you stay on track with your achievements:
“A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.” - Alexa von Tobel, CEO and Financial Advisor
Money won’t make you happy on its own, but having the knowledge you need to take control of your personal finances will make your life a whole lot more enjoyable. Whether it’s affording your own education or saving to pay for your children’s, empowering yourself to achieve your personal and professional goals means thinking critically about your economic resources and making smart decisions for the future.
Economics is the study of how societies produce, consume, and exchange health and resources. Every decision you make about using or conserving resources ties to economics and your problem solving skills. Understanding the basics of economics puts you in a better position to make wise choices about your personal finances. Personal finance is about how you as an individual, or a family, make decisions around budgeting. This includes what you choose to buy, what you decide to save, and anything that relates to allocation of your resources and wealth. By understanding personal finance, you can equip yourself to make strategic, future-oriented choices about your resources.
IN CONTEXT
Shia is incredibly busy this term. She’s enrolled in three courses, works part-time as a nanny, takes care of her young son, and is trying to stick to her New Year’s resolution of exercising more. A few weeks into her courses, Shia realizes she needs to spend more time studying to perform her best, so she pivots and reduces her hours at work.
She’s also spending a lot of money on takeout food because she can’t find much time to grocery shop or cook. After a month of earning less and spending more, Shia realizes she doesn’t have enough money to pay her rent this month. Next month’s rent has her worried too. She isn’t sure what she should do and spends a lot of time stressing about the future. Shia needs a plan and the ability to be agile given her current circumstances.
A financial plan is a personal document that details all the financial information you have—such as your cash flow, savings, debt, investments, and insurance. A financial plan should also include your personal goals (like buying a house), help you prioritize those goals, and allow you to strategize on how you’re ultimately going to reach them. A financial plan can help you stay agile in the face of challenges (like changes in your income) by giving you the information you need to pivot and still stay on track. If Shia had created a financial plan, it might look similar to the one below.
Monthly Budget Income (variable) $3,400 100% Expenditures Dollars Percent Housing $750 22% Food (groceries, takeout) $600 18% Transportation $80 2% Education (three courses) $1,000 29% Utilities $250 7% Taxes $200 6% Health Care $70 2% Family Care $300 9% Miscellaneous $100 3% Savings $50 2% Total $3,400 100%
Shia is fortunate this time – she will be able to borrow enough money from her family to make rent this month. Hopefully, she has learned that if she wants to achieve real financial security and be prepared for life’s what-ifs, she’ll need to create, monitor, and stick to a financial plan.
As you begin preparing your financial plan in this course, here are some simple techniques you can use to improve your productivity skills and reach your financial goals.
If you want to see where your money is going rather than guessing, keep a daily record of all your financial transactions, including paychecks and bills. Below are some common third-party applications that professionals use to track their expenses.
If you’re like most people, you appreciate saving money. Lowering your expenses reduces the amount of money that’s owed to others.
Think About It Could you cut back on takeout lunches or negotiate a better data plan with your cell phone company? Once you start looking at how you’re spending, there are bound to be ways to save. For instance, you may be able to receive a lower interest rate on your credit card simply by asking your creditor. End Think About It
You can also apply basic mathematical guidelines to lower your expenses. Try the 50/20/30 rule (Hayes, 2019). This easy-to-follow budget organizes your income like this:
These simple techniques will bolster your personal financial plan and help you stay on track with your achievements:
Financial uncertainty is the single greatest stressor in Americans’ lives. When you’re stressed, it’s difficult to stay productive toward your personal and professional goals because your mind is busy focusing on that stress. A financial plan can help you improve your overall well-being and eliminate stressors that get in the way of productivity. And there are a number of daily practices you can also use to take control of the stressors in your life (Hill, 2018).
Tune in to what your body is telling you. Follow these simple strategies to reduce stress:
What motivates you to do your best? Knowing what drives you can help you maintain focus, improve productivity, and lower stress: