tailieunhanh - Lecture Focus on personal finance: An active approach to help you develop successful financial skills (2e) - Chapter 7

Chapter 7 - Selecting and financing housing. In this chapter, you will learn to: Assess costs and benefits of renting, implement the home-buying process, determine costs associated with purchasing a home, develop a strategy for selling a home. | 7 Selecting and Financing Housing Evaluating Renting and Buying Alternatives Your lifestyle and your choice of housing How you spend your time and money Every buying decision = lifestyle statement Personal preferences vs. financial factors Traditional financial guidelines: Spend no more than 25-30% of take-home pay on housing, or No more than 2 1/2 times your annual income More difficult to do in inexpensive urban areas 7- Choice should be based on: Lifestyle (do you like or want to do maintenance tasks?) Financial factors (., affordability, tax deductions, equity) Mobility vs. permanence (are you able to “settle down”?) Renting = less costly in short run (monthly payment) Home ownership =long-term financial advantages (tax deductions and equity growth over time) Objective1 Assess Costs and Benefits of Renting 7- Renting vs. Buying Housing 7- Or Insert Exhibit 7-1 Selecting a rental unit Apartment or house Advantages of renting Easier to move Fewer maintenance responsibilities Minimal financial commitments Disadvantages of renting No tax benefits “Money down the drain” (not building equity) Limitations regarding remodeling Restrictions regarding pets and other activities Rental Activities 7- Description and address of property Name and address of the owner/landlord (lessor) Name of tenant (lessee) Effective date and length of the lease Amount of security deposit Amount and due date of rent Date and amount for late rent payments List of included utilities, appliances, etc. Restrictions on certain activities (., pets, remodeling) The right to sublet the unit; transfer clause Conditions under which landlord may enter unit Legal Details of a Lease 7- Objective 2 Implement the Home-Buying Process 7- Evaluate Home Ownership Stability of Residence American dream/norm (personalized living location) Financial Benefits Deduct property taxes, mortgage interest Potential increase in value of your home Building equity in your home Lifestyle . | 7 Selecting and Financing Housing Evaluating Renting and Buying Alternatives Your lifestyle and your choice of housing How you spend your time and money Every buying decision = lifestyle statement Personal preferences vs. financial factors Traditional financial guidelines: Spend no more than 25-30% of take-home pay on housing, or No more than 2 1/2 times your annual income More difficult to do in inexpensive urban areas 7- Choice should be based on: Lifestyle (do you like or want to do maintenance tasks?) Financial factors (., affordability, tax deductions, equity) Mobility vs. permanence (are you able to “settle down”?) Renting = less costly in short run (monthly payment) Home ownership =long-term financial advantages (tax deductions and equity growth over time) Objective1 Assess Costs and Benefits of Renting 7- Renting vs. Buying Housing 7- Or Insert Exhibit 7-1 Selecting a rental unit Apartment or house Advantages of renting Easier to move Fewer maintenance .

• Tài chính doanh nghiệp
• Personal finance
• Focus on personal finance
• Financial skills
• Financing housing
• Rental activities
• Home buying process
• Personal financial planning
• Financial planning
• Financial decisions
• Money management skills
• Money management
• Personal financial statements
• Lecture Personal finance
• Financial planning process
• Financial plans
• Personal financial process
• Financial goals
• Financial statements
• Personal balance sheet
• Personal financial
• Lecture Personal financial planning
• Characteristics of finance
• Finance tools
• Consumer credit
• Finance charge
• Protecting your credit
• Household finance
• Household structure
• Financial plan
• Calculate taxable income
• Calculate taxes owed
• Financial services
• Payment account
• Payment services
• Closed end credit
• Smart cards
• Consumer purchasing strategies
• Practical purchasing strategies
• Implied warranty
• Automobile insurance
• Insurance company
• Insurance program
• Disability income insurance
• Health insurance sources
• Life insurance
• Stock life insurance companies
• Investing basics
• Evaluating bonds
• Investment program
• Investing in stocks
• Preferred stock
• Evaluate stock investments
• Common stocks
• Investing in mutual funds
• Mutual fund
• Open end funds
• Estate planning
• Starting early
• Tax sheltering
• Income taxes
• Taxable income
• Managing cash
• Purchasing decisions
• Rental option