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Cover of Personal Finance v3.0
Published: 
December 2018
Page Count: 
430
ISBN (Digital): 
978-1-4533-9201-0

Personal Finance

Version 3.0
By Rachel S. Siegel

Included Supplements

Key Features

  • Includes clear learning objectives, key takeaways, and exercise problems in each section.
  • Includes personal finance planning problems, solutions, and exercises.
  • Includes links to videos, blogs, and other external applications.
  • Customizable.

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This textbook is suitable for the following courses: Personal Finance

Personal Finance was written with two simple goals in mind: to help students develop a strong sense of financial literacy and to provide a wide range of pedagogical aids to keep them engaged and on track. This book is a practical introduction that covers all of the fundamentals and introduces conceptual frameworks in a way that students can grasp and use in their personal lives.

New in This Version

  • Updated to reflect changes in tax code.
  • Updated figures, statistics, references, and links.
  • Refreshed photos and artwork.
  • Expanded explanation of math steps and calculations.
  • More in-depth discussion of exchange traded funds (ETFs).
  • About the Author
  • Acknowledgments
  • Dedications
  • Preface

    • Chapter 1: Personal Financial Planning

  • 1.1 Introduction
  • 1.2 Individual or “Micro” Factors That Affect Financial Thinking
  • 1.3 Systemic or “Macro” Factors That Affect Financial Thinking
  • 1.4 The Planning Process
  • 1.5 Financial Planning Professionals

    • Chapter 2: Basic Ideas of Finance

  • 2.1 Introduction
  • 2.2 Income and Expenses
  • 2.3 Assets
  • 2.4 Debt and Equity
  • 2.5 Income and Risk

    • Chapter 3: Financial Statements

  • 3.1 Introduction
  • 3.2 Accounting and Financial Statements
  • 3.3 Comparing and Analyzing Financial Statements
  • 3.4 Accounting Software: An Overview

    • Chapter 4: Evaluating Choices: Time, Risk, and Value

  • 4.1 Introduction
  • 4.2 The Time Value of Money
  • 4.3 Calculating the Relationship of Time and Value
  • 4.4 Valuing a Series of Cash Flows
  • 4.5 Using Financial Statements to Evaluate Financial Choices
  • 4.6 Evaluating Risk

    • Chapter 5: Financial Plans: Budgets

  • 5.1 Introduction
  • 5.2 The Budget Process
  • 5.3 Creating the Comprehensive Budget
  • 5.4 The Details of Budgeting and Specialized Budgets
  • 5.5 Budget Variances
  • 5.6 Budgets, Financial Statements, and Financial Decisions

    • Chapter 6: Taxes and Tax Planning

  • 6.1 Introduction
  • 6.2 Sources of Taxation and Kinds of Taxes
  • 6.3 The U.S. Federal Income Tax Process
  • 6.4 Record Keeping, Preparation, and Filing
  • 6.5 Taxes and Financial Planning

    • Chapter 7: Financial Management

  • 7.1 Introduction
  • 7.2 Your Own Money: Cash
  • 7.3 Your Own Money: Savings
  • 7.4 Other People’s Money: Credit
  • 7.5 Other People’s Money: An Introduction to Debt

    • Chapter 8: Consumer Strategies

  • 8.1 Introduction
  • 8.2 Consumer Purchases
  • 8.3 A Major Purchase: Buying a Car

    • Chapter 9: Buying a Home

  • 9.1 Introduction
  • 9.2 Identify the Product and the Market
  • 9.3 Identify the Financing
  • 9.4 Purchasing and Owning Your Home

    • Chapter 10: Personal Risk Management: Insurance

  • 10.1 Introduction
  • 10.2 Insuring Your Property
  • 10.3 Insuring Your Health
  • 10.4 Insuring Your Income

    • Chapter 11: Personal Risk Management: Retirement and Estate Planning

  • 11.1 Introduction
  • 11.2 Retirement Planning: Projecting Needs
  • 11.3 Retirement Planning: Ways to Save
  • 11.4 Estate Planning

    • Chapter 12: Investing

  • 12.1 Introduction
  • 12.2 Investments and Markets: A Brief Overview
  • 12.3 Investment Planning
  • 12.4 Measuring Return and Risk
  • 12.5 Diversification: Return with Less Risk

    • Chapter 13: Behavioral Finance and Market Behavior

  • 13.1 Introduction
  • 13.2 Investor Behavior
  • 13.3 Market Behavior
  • 13.4 Extreme Market Behavior
  • 13.5 Behavioral Finance and Investment Strategies

    • Chapter 14: The Practice of Investment

  • 14.1 Introduction
  • 14.2 Investment Information
  • 14.3 Investing and Trading
  • 14.4 Ethics and Regulation
  • 14.5 Investing Internationally: Risks and Regulations

    • Chapter 15: Owning Stocks

  • 15.1 Introduction
  • 15.2 Stocks and Stock Markets
  • 15.3 Stock Value
  • 15.4 Common Measures of Value
  • 15.5 Equity Strategies

    • Chapter 16: Owning Bonds

  • 16.1 Introduction
  • 16.2 Bonds and Bond Markets
  • 16.3 Bond Value
  • 16.4 Bond Strategies

    • Chapter 17: Investing in Mutual Funds, Commodities, Real Estate, and Collectibles

  • 17.1 Introduction
  • 17.2 Mutual Funds
  • 17.3 Real Estate Investments
  • 17.4 Commodities and Collectibles

    • Chapter 18: Career Planning

  • 18.1 Introduction
  • 18.2 Choosing a Job
  • 18.3 Finding a Job
  • 18.4 Leaving a Job

    • Appendix A: Present Value and Future Value Tables

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    Instructor’s Manual

    Instructor’s Manual

    The Instructor’s Manual guides you through the main concepts of each chapter and important elements such as learning objectives, key terms, and key takeaways. Can include answers to chapter exercises, group activity suggestions, and discussion questions.

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    PowerPoint Lecture Notes

    PowerPoint Lecture Notes

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    Rachel S. Siegel Northern Vermont University

    Rachel S. Siegel (MBA Yale University, CFA) was a professor of finance, economics, and accounting at Vermont State University from 1990–2016. She has also taught as an adjunct faculty member at Trinity College (Vermont), Granite State College (New Hampshire), Springfield College (Massachusetts), the University of Vermont, and in Tel Aviv, Israel, for Champlain College. Rachel has been a consultant to the CFA Institute on exam development, data forensics, and curricula, and has consulted on various exam prep courses in finance. She has also developed a freelance career as a financial editor and writer, for both investment firms and academics. Her column “Follow the Money” has been a regular feature of the Northstar Monthly since 2001. Originally from Providence, Rhode Island, Rachel now lives in Barnet, Vermont.

    Additions & Errata

    9/25/23: Incorrect table values updated in tables 4.9–4.13.

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