Explain to bill the goals and rewards of the personal

Reference no: EM13477927

Bill's Need to Know: Personal Finance or Tennis?

During the Christmas break of his final year at Ohio State, Bill Bledsoe plans to put together his résumé in order to seek full-time employment as a medical technician during the spring semester. To help Bill prepare for the job interview process, his older brother has arranged for him to meet with a friend, Cathy Smith, who has worked as a medical technician since her graduation from Ohio State 2 years earlier. Cathy gives him numerous pointers on résumé preparation, the interview process, and possible job opportunities.

After answering Bill's many questions, Cathy asks Bill to update her on Ohio State. As they discuss courses, Cathy indicates that of all the electives she took, the personal financial planning course was most useful. Bill says that, although he had considered personal financial planning for his last elective, he's currently leaning toward a beginning tennis course. He feels that the course will be fun because some of his friends are taking it. He points out that he doesn't expect to get rich and already knows how to balance his checkbook. Cathy tells him that personal financial planning involves much more than balancing a checkbook and that the course is highly relevant regardless of income level. She strongly believes that the personal financial planning course will benefit Bill more than beginning tennis-a course that she also took while at Ohio State.

Critical Thinking Questions:

Q1. Describe to Bill the goals and rewards of the personal financial planning process.

Q2. Explain to Bill what is meant by financial planning and why it is important regardless of income.

Q3. Describe the financial planning environment to Bill. Explain the role of the consumer and the impact of economic conditions on financial planning.

Q4. What arguments would you present to convince Bill that the personal financial planning course would benefit him more than beginning tennis?

Reference no: EM13477927

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