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Essay / Research Paper Abstract
This 3 page paper looks at three decisions where the use of personal financial statements would be of benefit. The three decisions are which jobs to apply for, whether or not to buy a car and how long to go on holiday. Each is discussed showing how personal financial statements would be useful. The bibliography cites 1 source.
Page Count:
3 pages (~225 words per page)
File: TS14_TEpersonalf.rtf
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Unformatted sample text from the term paper:
expected financial position and their individual values concerning money and how it is utilized. When looking at three different financial decisions it is possible to see how the development of
personal financial statements will help as a source of input information onto the decision making process. The first financial decision may be what job to take. For any student
an important move will be the first job. However, as well as career development there are also financial considerations to take into account. It may be that the desired jobs
will require increased finial outgoings as they are in other areas and will require the student to move. It is also possible that there will be a range of pay
scales for the different jobs that the student can apply for. Using the personal financial statements there is the ability to assess which of the potential jobs is viable. The
personal financial statement should allow the student determine if it will be financially possible to accept a job. Looking at the estimated cost of moving and comparing it to the
available resources, and then taking into account the funds needed until the first pay check is received will determine whether or not the job is viable. The higher the cost
of moving the less likely it will be viable, However, there may also be other consideration, such as any payments that the employer will make towards a required move.
If it is feasible to make the move the job can then be assessed against the personal statements to determine of the job is viable in the long term,
does it produce enough income in comparison to the students outgoings? The outgoings will have to be adjusted for any additional amounts, such as higher rent in a new area
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