Join Jim Stice for an in-depth discussion in this video Introducing personal financial planning, part of Finance Foundations.
- You've been around for a while,…you've seen Get-Rich-Quick schemes come and go.…- Yes, I have.…- So, tell us about your favorite.…By favorite, I mean the one you thought…was the most ridiculous.…- All right, it was called "Twelve Daily Pro,"…and here was the idea.…You pay $6000 to become a member.…You then commit to visiting 12 websites per day.…These 12 websites are supposedly from customers…who are paying for an increase in traffic to their website.…Visiting these 12 websites per day takes about five minutes.…
Each day that you do this, you earn 12%…of your initial membership fees, that's $720 a day.…You do this every day for 12 days,…so at the end, you've got $8640.…You take out your original 6000 and you've earned $2640…for just 12 days of work, spending five minutes a day…visiting 12 websites.…- So what's wrong with that?…- Well, the whole thing was bogus!…Is it reasonable to think that you can make $720 each day…by spending five minutes visiting websites?…- You're right, that's ridiculous.…
So how was Twelve Daily Pro able to attract members?…
- Understanding financial statements
- Managing finances in the short term
- Analyzing risk and return
- Obtaining short-term and long-term financing
- Understanding the stock and bond markets
- Comparing the Facebook and Microsoft IPOs
- Working with financial institutions
- Using capital budgeting
- Creating simple personal saving and investment plans
Skill Level Appropriate for all
1. What Is Finance?
2. Understanding Financial Statements
3. Short-Term Financial Management
4. Risk and Return
5. Obtaining Long-Term Financing
6. Understanding Securities Markets
7. Financial Institutions
8. Capital Budgeting
Capital budgeting overview3m 20s
9. Bonus: Personal Financial Planning
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