Discover the keys to personal financial management within "Personal Finance," 15th Edition. The text follows a step-by-step approach, giving you a set of actionable items on how to save and invest, manage financial risk, plan for taxes, decrease credit card debt and reduce financial stress throughout your lifetime. Throughout the book you will find many "notes from your future selves," which are based on decades of research in personal finance where the authors have come to understand the cognitive and implicit biases that influence our financial decisions. These biases often distract people from a more direct path to financial goals. Many examples allow you to get your hands on the ideas behind trading present consumption for that planned in the future. With the latest updates and learning tools, this edition prepares you for personal financial success.
Part I: FINANCIAL PLANNING.
1. Understanding Personal Finance.
2. Career Planning.
3. Financial Statements, Goals, and Budgeting.
Part II: MONEY MANAGEMENT.
4. Managing Income Taxes.
5. Managing Checking and Savings Accounts.
6. Building and Maintaining Good Credit.
7. Credit Cards and Consumer Loans.
8. Vehicles and Other Major Purchases.
9. Obtaining Affordable Housing.
Part III: INCOME AND ASSET PROTECTION.
10. Managing Property and Liability Risk.
11. Planning for Health Care Expenses.
12. Life Insurance Planning.
Part IV: INVESTMENTS.
13. Investment Fundamentals.
14. Stocks and Bonds.
15. Mutual and Exchange-Traded Funds.
16. Real Estate and High-Risk Investments.
17. Retirement and Estate Planning.
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E. Thomas Garman
A renowned author, advisor, and academic, Dr. E. Thomas Garman is a Fellow and Distinguished Professor Emeritus of Virginia Tech University, where he directed the National Institute for Personal Finance Employee Education. He subsequently founded the Personal Finance Employee Education Foundation. Author of 40 books and 200 academic research articles, Dr. Garman directed several award-winning research studies that link the financial fortunes of employers with the financial health of their employees. His research consistently showed that decreasing employee financial distress and improving personal financial well-being created better workers. Dr. Garman's research has been the most cited in the field for more than 20 years. He has worked for a U.S. senator in Washington, D.C., in economic development in West Africa and for a national non-profit credit counseling organization. He is an elected Distinguished Fellow of both the Association for Financial Counseling and Planning Education and the American Council on Consumer Interests. Dr. Garman has served on advisory boards for the Board of Governors of the Federal Reserve System, International Board of Standards and Practices for Certified Financial Planners, American National Standards Institute, National Foundation for Credit Counseling, U.S. Food and Drug Administration and National Advertising Review Board. His consulting includes work for Profit Sharing/401(k) Council of America, Manulife Financial, AT&T, U.S. Navy, U.S. Army and U.S. Department of Defense. His work has been featured in hundreds of publications, including USA Today, New York Times, The Washington Post, The Los Angeles Times and U.S. News & World Report, and he has appeared on National Public Radio and NBC Nightly News.
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Jonathan Fox
Jonathan Fox is the Ruth Whipp Sherwin Endowed Professor in the Department of Human Development and Family Studies; Director of the Financial Counseling Clinic; and Program Leader in financial counseling and planning at Iowa State University. He has taught comprehensive family financial planning for over 30 years at the University of Maryland, Ohio State University, and Iowa State University. His research focuses on the effectiveness of financial education interventions. He has served as principal investigator for several financial education evaluations and his publications appear in journals such as Financial Planning Review, Financial Services Review, Financial Counseling and Planning, Journal of Family Issues, Journal of Financial Therapy and Journal of Consumer Affairs. Dr. Fox works closely with the Certified Financial Planner Board’s Center for Financial Planning in their efforts to connect research and practice within the profession of financial planning. He holds a doctorate from the University of Maryland in consumer economics and a General Course degree from the London School of Economics. For a brief video introduction to Dr. Fox visit: https://www.youtube.com/watch?v=_qsemEaj1rM
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Suzanne Bartholomae
Dr. Suzanne Bartholomae is an associate professor of financial counseling and planning in the Department of Human Development and Family Studies at Iowa State University. She is also an Extension State Specialist in Financial Health and Well-Being in Health and Human Sciences Extension and Outreach, helping fulfill Iowa State University’s three-prong land-grant mission of research, extension and education. Dr. Bartholomae’s research focus is on financial education initiatives and financial well-being. The goal of her engaged scholarship is to help individuals and families reduce their financial stress and achieve financial freedom and independence. She has published over 30 peer-reviewed articles on these topics in academic journals such as the Financial Planning Review, Family Relations, Journal of Adolescent Health, Journal of Consumer Affairs and, most recently, in the Handbook on Financial Literacy and Handbook of Personal Finance. She serves as an associate editor for the Journal of Family and Economic Issues.
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Complete updated real-world financial information throughout the text includes recent changes to income taxes through the One Big Beautiful Bill Act (OBBBA).
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The text includes digital assets and digital currency for a balanced discussion of such products with a financial plan.
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A revised solutions manual with additional ideas for classroom applications is included.
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Updated personal financial planning worksheets integrate students’ own finances into learning. 70 worksheets span the lifecycle, from career planning to wills.
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Boxed features spotlight learning tools and financial resources, offering actionable worksheets throughout each chapter that build into a full financial plan.
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To Do Soon lists start each chapter and emphasize financially related tasks to complete in the next few months to start the journey toward financial security.
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Did You Know boxes highlight important, and often surprising, financial numbers and statistics updated with each edition related to the chapter's subject.
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Tax Consequences boxes show how taxes affect financial choices, helping readers assess the impact of income taxes -- such as differences between mutual fund and stock investing.
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