'News Summaries\r'

'A July 9 online condition from dallasnews. com, entitled outperform 10 own(prenominal) finance errs, provides a elevation example of wholeness form of learning: lesson by failure. The article discusses ten common pitfalls when individuals are addressing their consume pecuniary tasks. By shining a brilliance on these mistakes, the article reinforces principles in Chapter 22â€namely, the necessary need for solid personal financial planning.Each ‘mistake’ receives a few paragraphs of attention, and the information holds more appraise because the author also pinpoints expert tips that can decr remedy the impact and occurrence of each problem.The first devil discussed mistakes, for example, address the scarcity of people who break away a logical and flexible statement of goals. Too often, as the article elaborates, individuals make financial decisions based on emotion rather than factual information. In addition, those who do develop goals and plans are many times averse(p) to ‘stray the course’ from initial goals. However, experts advise that adaptability and grammatical construction can strengthen financial prospects for any individual, heedless of economic standing.Budgeting, in give outicular, is an important skill to develop in matters of finance. Debt and nest egg comprise the next part of the discussion. According to the article, a surplus of people hand into credit card debt that may only be eradicated through years of payments. Prompt, maximum-level monthly payments can ease these burdens, say the experts. Debt accumulation is symptomatic of another financial planning problem mentioned in the article: savings, or the lack thereof.A depletion of saved income can negatively impact both short-term and long-term financial goals. unrivalled remedy the interviewed experts recommend involves the creation of an emergency savings fund (used in case of unexpected expenses). such a fund would be bolstered by a set am ount of money from each employee paycheck. Finally, the article concludes with warnings involving two other important aspects of personal finance, employee benefits and stock investment.The author argues for 401(K) plans, life insurance, and reasonable drop, respectively. Each of these subjectsâ€if handled improperlyâ€holds the potential for catastrophic financial consequences. 401(K)s can benefactor ensure an individual has a secure retreat nest egg (alleviating at least one burden for the elderly); life insurance in make for ensures a family’s security, and minimal stock investing will help prevent an abolishment of personal savings.\r\n'