The Personal Finance Calculator: How to Calculate the Most Important Financial Decisions in Your Life
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The no-nonsense guide to making the best financial decisions, from buying a car to saving for retirementThe first step in building financial security is to get a handle on your personal finances—from credit card balances and car payments to savings and investment plans. The Personal Finance Calculator is designed to help you do just that. This one-of-a-kind guidebook gives you the information and resources you need to manage all of your personal and family money matters by showing you how to make each financial decision intelligent and cost effective.Let The Personal Finance Calculator give you the tools you need to: Formulate a realistic budget Cut interest expense on—or eliminate—credit card payments Save money on your taxes Determine whether you should refinance your mortgage Know whether it is best to buy or lease a car Eliminate the tax-time confusion of buying and selling mutual funds Calculate and invest for your retirement financial needs And much more To ensure having enough money tomorrow, you must begin to cut unnecessary expenses today. Let the fifty-nine clear, concise, and carefully selected rules in The Personal Finance Calculator help you get your financial house in order by providing you with at-a-glance answers to hundreds of everyday financial questions.Esme Faerber, C.P.A. is professor of business and accounting at Rosemont College. She is the author of numerous popular books for individual investors, including All About Stocks and All About Bonds, and Bond Mutual Funds.
AcknowledgmentsviiIntroductionixPart 1Assessing Your Current WealthFinancial Calculator1How to Determine Your Net Worth32How to Determine a Cash Inflows and Outflows Statement83How to Formulate a Budget124Time Value of Money and What It Can Do for You205Simple Interest and How to Calculate It226Compound Interest and How to Determine Future Value237What You Need to Know About Nominal Versus Effective Interest Rates and How to Calculate the Effective Rate308Present Value and How to Calculate It339Annuities and How to Calculate Them3710How to Determine the Amounts Needed to Fund Your Objectives5211How to Reconcile Your Checking Account6112How to Prepare Your Records for Your Tax Accountant68Part 2Managing Your Personal Wealth--DebtFinancial Calculator13Determine Your Debt Capacity7514How to Determine the Best Source of Credit7715How to Determine the Annual Percentage Rate Costs of Using Credit Loans8116How to Determine the Rate of Interest on Your Credit Cards9017How to Manage Your Debt9418How Much of a Mortgage Can You Afford?9919How to Calculate Your Monthly Mortgage Payment10320How to Determine Your Mortgage Balance10721Determine Your Mortgage Balance When Additional Principal Payments Are Made11122Adjustable Rate Mortgages and How They Work11423Which Type of Mortgage Should You Choose?12124When Should You Refinance Your Mortgage?12525Should You Rent or Buy a House?12726What You Should Know About Leasing a Car and How a Lease Works13127Should You Buy, Lease, or Finance Your Car?13628How to Create a Simple Interest Loan Schedule142Part 3Managing Your Personal Wealth--InvestmentsFinancial Calculator29Determine Your Investment Objectives14930Determine Your Risk Tolerance15231How to Allocate Your Investments15832How to Determine Your Equity Style in the Selection of Individual Stocks16533How to Determine Which Types of Bonds to Buy for a Portfolio17134How to Rebalance Your Portfolio17535The Rule of 72 and How to Use It to Determine How Long It Will Take to Double Your Money17936How to Assess and Balance Risk and Return in the Choice of Different Investments18037How to Calculate a Simple Rate of Return for Stocks and Bonds18638How to Determine a Rate of Return for a Mutual Fund19039How to Determine the Yield on Treasury Bills19340How to Determine the Purchase and Selling Price of Treasury Bills19741How to Buy and Sell Treasury Securities Directly from the Federal Reserve20142How to Convert Municipal Bond Yields to Before-Tax Yields20743Duration and How It Can Help You in the Choice of Bonds for Your Portfolio21144How to Value Bonds21745How to Value Common Stock22046How to Determine the Growth Rate of a Stock22647How to Analyze and Evaluate Your Common Stocks22948How to Choose a Mutual Fund24649How to Determine the Tax Consequences of Buying and Selling Shares in a Mutual Fund25450How to Determine the Average Cost in Dollar Cost Averaging259Part 4Planning for Your FutureFinancial Calculator51How to Determine Your Future Financial Needs and How to Fund Them26552How to Determine How Long Your Money Will Last in Retirement and the Amount of the Payment in a Systematic Withdrawal Plan272Appendices277Index287
