Personal Financial Literacy - FIN 205

terms and themes

• There is a positive relationship between risk and return
• Cognitive biases
  • Status quo bias - if it ain’t broke, don’t fix it
  • Heuristics - decision-making shortcuts
  • Procrastination - placing more value on the present at the expense of the future
  • Hyperbolic discounting - “now” makes us impatient
  • Loss aversion - we fear loss more than we value gain
  • Confirmation bias - beware the special case
• Goals
  • SMART goals
  • Psychological time perspective
• Financial risk
• Emergency funds
  • Roth IRAs
  • Traditional IRAs
• Investments
  • Investing flowchart
  • Stocks
  • Bonds
  • Mutual funds
  • Exchange-traded funds (ETFs)
  • Brokerage accounts
• Taxes
• Loans
  • Buying a car
• Wills

notes

• 250331 FIN 205 week 1
• 250406 FIN 205 week 2
• 250413 FIN 205 week 3
• 250421 FIN 205 week 4

resources

• Financial Calculators

related

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