Economics plays a role in personal finance describe the

Reference no: EM13382034

Economics plays a role in personal finance. Describe the role that economics plays in your personal financial plan. Also, the use of credit plays a role in a personal financial plan. Describe the advantages and disadvantages of credit and explain how you will use it as part of your financial plan. Specifically address the following required elements:

- Explain the role the government plays in personal finance (focus on regulations, laws, economic policy, etc.).

- Explain the role of government assistance in personal finance (describe what type of assistance is available).

- Explain the impact of the tax system on personal finance (how do various taxes impact you on a personal level, related to your financial plan).

- Discuss basic economic data, how to access it, and how it can be used to make decision and plan for the future.

- Discuss the use of credit.

- Explain the cost of credit.

- Determine the sources of credit available (where can you get credit, advantages and disadvantages of the types).

- Identify the types of credit that you will use as you develop your budget and financial plan (what types and why).

Reference no: EM13382034

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