The Handy Personal Finance Answer Book

Paul A Tucci

Description

Personal Financial Planning and Money Management Insights, Advice, and Guidance. An up-to-date financial reference book for everyone!

Tips, practical advice, useful worksheets, checklists, and tables guide you to a better understanding of your financial position and put you on your way to achieving personal financial goals and security. The Handy Personal Finance Answer Book offers facts for everyday life to help you save money and manage your financial life. By avoiding financial jargon, this informative tome provides financial lessons in a fun, approachable way.

With answers to more than 1,000 questions on the history and institutions of finance, how to make wise decisions about personal financial issues, and common mistakes people make when managing money, this fact-filled book offers facts for everyday life that help you build a more secure future for you and your family. Questions range from simple to complex, including …

What are some basic steps to becoming financially successful?

How do I balance my checkbook?

What are some of the biggest mistakes that individual investors make?

Why is attaining financial goals easier than we think?

How much should I save for retirement?

What are seven things to consider before investing?

Who said, “A penny saved is a penny earned”?

How can I save money on my home owner’s insurance?

How do I check the accuracy of my medical bills?

What are some notable tax deductions?

How many undergraduates receive financial aid to attend university or colleges in America?

What are some typical family budget categories?

What is the concept of “paying yourself first”?

How many credit cards should I have? Are debit cards a better way to go?

And many, many more!

Also featured are useful worksheets, checklists, and tables that guide the reader to a better understanding of his or her own financial position and on their way to achieving their personal financial goals. A bibliography and extensive index add to its usefulness. The Handy Personal Finance Answer Book takes the mystery out of money matters.

Sujets

• Business
• Economics
• Personal Finance

Informations

• Publié par: Visible Ink Press
• Date de parution: 01 octobre 2011
• Nombre de lectures: 1
• EAN13: 9781578593897
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

About the Author

Paul A. Tucci is a writer, researcher, and author of the books Traveling Everywhere (2001) and The Handy Geography Answer Book (2008), as well as numerous articles on the information industry. He is a frequent guest lecturer in management, marketing, and strategy at various universities, including New York University, Northwestern University, the University of Michigan, and Oakland University. An amateur investor for over thirty years, and a former global information/publishing manager, he is also a business owner and partner of an innovative IT services and software development firm, a consultant to and investor in small private equity funded businesses, and board of directors member of the Rislov Foundation, a charitable foundation dedicated to providing funding for classical music education, instruction, and programming. He resides in Michigan.
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THE HANDY PERSONAL FINANCE ANSWER BOOK
Copyright © 2012 by Visible Ink Press®
This publication is a creative work fully protected by all applicable copyright laws, as well as by misappropriation, trade secret, unfair competition, and other applicable laws.
No part of this book may be reproduced in any form without permission in writing from the publisher, except by a reviewer who wishes to quote brief passages in connection with a review written for inclusion in a magazine, newspaper, or Website.
All rights to this publication will be vigorously defended.
Visible Ink Press® 43311 Joy Rd., #414 Canton, MI 48187-2075
Visible Ink Press is a registered trademark of Visible Ink Press LLC.
Most Visible Ink Press books are available at special quantity discounts when purchased in bulk by corporations, organizations, or groups. Customized printings, special imprints, messages, and excerpts can be produced to meet your needs. For more information, contact Special Markets Director, Visible Ink Press, www.visibleinkpress.com , or 734-667-3211.
Managing Editor: Kevin S. Hile Art Director: Mary Claire Krzewinski Typesetting: Marco Di Vita Proofreaders: Sharon Malinowski Cover images: iStock.
Library of Congress Cataloguing-in-Publication Data
Tucci, Paul A., 1962
The handy personal finance answer book / by Paul A. Tucci.
p. cm.
Includes bibliographical references and index.
ISBN 978-1-57859-322-4 M ISBN 978-1-57859-389-7 ISBN 978-157859-390-3 ISBN 978-1-57859-391-0
1. Finance, Personal. I. Title.
HG179.T817 2012
332.024 dc23
2011027529
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1

Contents
A CKNOWLEDGMENTS
I NTRODUCTION
A PPENDIX I: R EAL E STATE T IPS
A PPENDIX II: S TARTING A B USINESS P LAN
A PPENDIX III: C OLLEGE C OST T RENDS
A PPENDIX IV: G OVERNMENT R ESOURCES
G LOSSARY
I NDEX
INTRODUCTION
History of Money, Banks, and Saving
History of Credit Cards
Our Financial Mindset
Blogs
BASIC BANKING
Banks
Credit Unions
Managing Your Account
Online Banking
Paying Bills Online
Phishing and Other Online Scams
Personal Finance Software
SAVINGS AND INVESTMENTS
Overview
Stocks
Investors
Investing for Retirement
Market Timing, Technical Analysis, and Fundamental Analysis
Buying Stocks
Protecting Yourself from Fraud
Analyzing Stocks
Helpful Financial Websites
Bonds
Mutual Funds
Individual Retirement Accounts
Investing in Gold
Investing in Real Estate
Selling Your House
Financial Planners and Investment Advisors
INSURANCE
Home Insurance
Insurance for Renters
Automobile Insurance
Health Insurance
Life Insurance
Small Business Insurance
TAXES
Federal Taxes
Accountants and Tax Payers
IRS Audits
State Taxes
Local and City Taxes
LOANS
Paying for Houses
Home Equity Loans
Reverse Mortgages
Car Loans, Leasing, and Buying
Paying for Education
Loans for Small Businesses
Loans for Vacations and Paying Off Loans
PLANNING AHEAD
Saving for Retirement
Saving for Education
Caring for Aging Parents
SURVIVING FINANCIAL CRISES
Overview
Identity Theft
Protecting Your Privacy on the Internet
Bankruptcy
Divorce
Death of a Spouse
Wills and Trusts
Getting Out of Debt
Retaining Financial Records
BUDGETING EXPENSES
Living within Your Means
Creating a Budget
Cutting Expenses
Teaching Your Children about Finances
Interesting Facts and Trends
CREDIT CARD
Finance Rates, Interest Rates, Introductory Rates
Eliminating Credit Card Debt
Debit Cards, ATM Cards and Pre-paid Credit Cards
Credit Counseling
Debt Consolidation
Acknowledgements
I wish to thank my parents, for their encouragement to open my first bank account when I was about five years old, to save at such a young age, and for letting me begin to work when I was nine years old; my big sister, Michele, who was my accountant for my paper route, as well as a model to me of financial responsibility when I was young and impressionable.
This book is also for Leo, who helped me to learn about what a money market fund was when I was sixteen, when interest rates were at historic highs. Also, from back in the days when I working as an intern in Washington, D.C., I wish to acknowledge the guy from the brokerage house on "K" Street, who advertised a free seminar that I attended when I was eighteen that taught me what a mutual fund was. John Riedel, former CFO of Proquest, taught me a lot about corporate finance over many years, and Zach Savas, with whom I had conversations over the years on the markets and private equity investing. I also spoke with Nick Demopoulos about global markets and currency trading over the years. Ray and Brad Berk taught me about tax issues. In addition, I would like to thank the following people who assisted with ideas and questions for the book; all of them are masters in their respective fields: Michele Tucci-Berube, J.D.: legal questions Amy Randazzo: personal tax questions Nick Demopoulos: stocks and mutual funds questions Sarah Butterfield, a tax professional, in the area of high net worth family and individual accounting: on tax questions John O’Brien, marketing/advertising professional: on all questions, specifically on financial advisors Isabella Tucci, Realtor™, thirty-five-year-real estate professional, Cranbrook Real Living, Inc.: real estate questions Michael Garcia, an automotive industry and logistics executive and entrepreneur who is experienced in issues about health and the subsequent loss of his beloved parents: caring for the elderly Dr. Evelyn Katz, cognitive therapist extraordinaire: financial mindset
I would also like to acknowledge the team at Visible Ink Press, who make this and so many other consumer reference works possible and accessible to so many people: Roger Jånecke, Publisher; Kevin Hile, Managing Editor; Mary Claire Krzewinski, for cover art and page design.
And, of course, my family….
This manuscript was entirely created and managed using Google Documents.
Photo Credits
All photos are courtesy of iStock.com, except for the following, provided by the author, Paul Tucci: pages 3 , 6 , 20 , 42 , 60 , 106 , 118 , 120 , 122 , 127 , 167 , 194 , and 266 .
Introduction
The Handy Personal Finance Answer Book takes the reader through each of what we feel are major themes in personal finance. There are so many variables that affect our ability to manage our money; we decided to look at factors that may not be found in other personal finance reference books and present our information in a way that surprises, assists, and enables readers to change the way they feel about and view money. The questions and answers include broad statistical references that demonstrate how many people are affected by some aspect of finances, as well as broad macroeconomic data to support trends and allow the reader to draw his/her own conclusions. The line of questions also takes a subject and moves from broad to specific but never too specific answers that are never "over the heads" of the audience. Some answers are defi