PersonalFinancialPlanning fo
d d d
rGraduateStudents
d d
Manage Your Money Today Maximize
d d d d d
Your Money in the Future
d d d d
Guidebook & Workbook d d d
August 2021 d
,Introductiond&dOverview:dOwndYourdFinancialdFuture
Paged2dofd243
, INTRODUCTION & OVERVIEW d d
Moneydcannotdbuydhappiness.dButdmoneydcandcreatedoptionsdanddopportunitiesdfordyou.
Thedpurposedofdthisdbookdisdtodhelpdyoudtakedcontroldofdyourdfinancesd–dbothdtodaydanddindthedfutured–
dtodhelpdyoudhavedalldthedoptionsdanddopportunitiesdtodcreatedthedlifedyoudwant.
Thisdbookdprovidesdsomedfinancedtheorydanddconceptsdthatdwilldhelpdyouddevelopdadlong-
termdfinancialdplan;ditdprovidesdsomedcasesdthatdwilldhelpdyoudthinkdaboutdyourdowndfinancialdhealthda
nddpriorities;dandditdprovidesdsomedexercisesdthatdwilldhelpdyoudputdsomednumbersdtodyourdowndsituatio
ndsodyoudcandbetterdappreciatedbothdthedbenefitsdanddconsequencesdofddifferentdfinancialddecisions.
Wedencouragedyoudtodapproachdthisdbookdwithdandopendminddanddandopendheart.dAnddwedencouragedyo
udtodmakedthisdexperiencedasdpersonaldasdpossible.dEverybodydisddifferentd–
danddeverybodydhasddifferentdfinancialdknowledge,ddifferentdfinancialdfoundationsdandddifferentdfinan
cialdfutures.dWedhavedtrieddtodusedconceptsdanddexamplesdthatdprovidedadvarietydofdperspectivesdthatdwil
ldhelpdyoudseedyourselfdindthisdwork.dButdit’sdunlikelydthatdwe’vedbeendabledtodcompletelydcapturedyourd
uniquedsituation.dThat’sdwheredyoudhavedtodhelp.dMakedthisdexperiencedaboutdyoudanddyourdfuture.
Customizedthisdexperiencedfordyourselfdsodyoudcandtakedcontroldofdyourdfinancialdfuturedanddcreatedalldth
edoptionsdanddopportunitiesdthatdyou’vedeverdimagineddfordyourself.
Wedcannotdpromisedthatdgoingdthroughdthisdbookdanddalldofditsdexercisesdwilldmakedyoudadbillionairedor
devendadmillionaire.dButdweddodpromisedthatdmasteringdthedtipsdanddtoolsdindthisdbookdwilldhelpdyoudsleep
dbetterdatdnight,dwilldmakedyoudlessdanxiousdaboutdmoney,danddwilldhelpdyoudmakeddecisionsdthatdtakedyo
urdlifedforward.dThisdbookdisddesigneddtodhelpdyoudturndmoneydfromdadsourcedofdstressdtodadsourcedofdc
ontrol.dNowdrelax,dpreparedtodthink,danddenjoydthedfinancialdplanningdjourneydtodcome.
Introductiond&dOverview:dOwndYourdFinancialdFuture
Paged3dofd290
, PURPOSE & AUDIENCE
d d
Thedpurposedofdthisdbookdisdtodhelpdgraduatedstudentsd–danddundergraduatedstudentsdanddevendnon-
dstudentsd–dbecomedmoredcomfortabledtalkingdaboutdfinancedanddthinkingdaboutdpersonaldfinance.
Ultimately,dthedgoaldisdtodhelpdyoudbecomedconfidentdanddself-
sufficientdwithdmanagingdyourdowndfinancesd–
dfromdborrowingdanddbudgetingdtodsavingdanddinvesting.
Thedprimarydaudiencedfordmostdofdthisdbookdisdgraduatedstudents.dBeingdadgraddstudentdisdmuchddiff
erentdfromdbeingdandundergrad:dyoudmaydbedworking,dyoudmaydbedmarried,dyoudmaydhavedkids,dyoud
maydstilldhavedstudentdloansdfromdundergrad,dyourdparentsdmightdnotdbedhelpingdpaydtuition.dOveral
l,dyourdfinancialdsituationdisdlikelydtodbedfardmoredcomplexdasdadgraddstudent.dButdthere’sdgooddnews,dto
o:dyou’redolder,dmoredmature,dmoredintelligentdanddyoudhavedadmuchdbetterdideadwhatdyoudwantdtodd
odwithdyourdlife.dYoudaredindadperfectdpositiondtodusedfinancialdplanningdtodmakedmoneydissuesdadsou
rcedofdempowermentdratherdthandadsourcedofdstress.dThisdbookdisdfordyou.
Theredaredcertaindsectionsdindthisdbookdthatdmaydbedmoredrelevantdtodolderdreadersd(suchdasdinsuranceda
nddretirementdplanning)danddcertaindcontentdthatdwilldbedusefuldtodeveryoned(suchdasdbudgetingdanddsa
ving).dIndsomedsituations,dwedaskdyoudtodimaginedyourdfuturedself,dperhapsd1dord5dord10dyearsdindthedfutu
re;dexercisesdsuchdasdthesedcandbedusefuldtodreadersdofdalldages,dregardlessdofdhowdexperienceddyoudaredw
ithdfinancialdplanning.dTrydnotdtodlimitdyourselfd–
dchallengedyourselfdtodthinkdcreativelydaboutdyourdpresentdsituationdanddaboutdyourdgoalsdandddreamsdf
ordyourdfuturedself.dThisdbookdisdaboutdyou.
Theredared6dchaptersdindthisdbook.dChaptersd1dandd6dtrydtodhelpdyoudthinkdaboutdmoneydanddfinancialdpl
anning.dWedtalkdaboutdbehaviors,demotionsdanddactions;dwedtalkdaboutdthedphilosophydofdmoney;dwed
challengedyoudtodthinkdaboutdyourdowndpersonaldrelationshipdwithdmoney.dIndChaptersd2,d3,d4dandd5,dwe
dtalkdaboutdthedtechnicaldaspectsdofdfinancialdplanning.dChapterd2disdaboutdBudgeting,dIncomed&dExpen
ses;dChapterd3dcoversdBorrowingd&dDebtdManagement;dChapterd4dcoversdSavingd&dInvestingdfordyour
dfuture;danddChapterd5dintroducesdInsurance,dTaxes,dRetirementdanddotherdSpecialdTopicsdthatdyoudwi
lldwantdtodthinkdabout,dbothdnowdanddlater.dThedfirstdtwodchaptersdaredthedmostdcriticaldchaptersdtodtak
ingdcontroldofdyourdfinancesdtoday.dChapterd3,d4dandd5daredmoredaboutdthedfuture;dthedsoonerdyoudthin
kdaboutdthem,dthedbetterdoffdyou’lldbe.dAnddChapterd6dtiesdmanydofdthedpreviousdchaptersdtogether,dfr
omdthinkingdaboutdmoneydtodpreparingdadbudgetdanddthinkingdaboutdinvesting.dEverythingdisdconnect
ed.dAnythingdyoudcandtakedawaydfromdthisdbookdwilldmakedyourdfuturedbetter.
ThisdversiondofdthedbookdisdwrittendbydfacultydatdThedUniversitydofdLouisianadatdLafayette.dAsdsuch,dth
eredaredspecificdULdLafayettedreferencesdanddexamplesdindthedbook,dwheredappropriate.dHowever,dthed
conceptsdanddexamplesdareduniversaldanddshoulddbedapplicabledtodyoudwhereverdyoudare,dwhateverdyour
dage,danddregardlessdofdwhetherdyoudaredindschool.
Thisdbookdisdadpublicdgood.dNothingdindheredisdproprietary.dPleasedprintdit,dcopydit,dsharedit,dusedit.
Paged4dofd290
d d d
rGraduateStudents
d d
Manage Your Money Today Maximize
d d d d d
Your Money in the Future
d d d d
Guidebook & Workbook d d d
August 2021 d
,Introductiond&dOverview:dOwndYourdFinancialdFuture
Paged2dofd243
, INTRODUCTION & OVERVIEW d d
Moneydcannotdbuydhappiness.dButdmoneydcandcreatedoptionsdanddopportunitiesdfordyou.
Thedpurposedofdthisdbookdisdtodhelpdyoudtakedcontroldofdyourdfinancesd–dbothdtodaydanddindthedfutured–
dtodhelpdyoudhavedalldthedoptionsdanddopportunitiesdtodcreatedthedlifedyoudwant.
Thisdbookdprovidesdsomedfinancedtheorydanddconceptsdthatdwilldhelpdyouddevelopdadlong-
termdfinancialdplan;ditdprovidesdsomedcasesdthatdwilldhelpdyoudthinkdaboutdyourdowndfinancialdhealthda
nddpriorities;dandditdprovidesdsomedexercisesdthatdwilldhelpdyoudputdsomednumbersdtodyourdowndsituatio
ndsodyoudcandbetterdappreciatedbothdthedbenefitsdanddconsequencesdofddifferentdfinancialddecisions.
Wedencouragedyoudtodapproachdthisdbookdwithdandopendminddanddandopendheart.dAnddwedencouragedyo
udtodmakedthisdexperiencedasdpersonaldasdpossible.dEverybodydisddifferentd–
danddeverybodydhasddifferentdfinancialdknowledge,ddifferentdfinancialdfoundationsdandddifferentdfinan
cialdfutures.dWedhavedtrieddtodusedconceptsdanddexamplesdthatdprovidedadvarietydofdperspectivesdthatdwil
ldhelpdyoudseedyourselfdindthisdwork.dButdit’sdunlikelydthatdwe’vedbeendabledtodcompletelydcapturedyourd
uniquedsituation.dThat’sdwheredyoudhavedtodhelp.dMakedthisdexperiencedaboutdyoudanddyourdfuture.
Customizedthisdexperiencedfordyourselfdsodyoudcandtakedcontroldofdyourdfinancialdfuturedanddcreatedalldth
edoptionsdanddopportunitiesdthatdyou’vedeverdimagineddfordyourself.
Wedcannotdpromisedthatdgoingdthroughdthisdbookdanddalldofditsdexercisesdwilldmakedyoudadbillionairedor
devendadmillionaire.dButdweddodpromisedthatdmasteringdthedtipsdanddtoolsdindthisdbookdwilldhelpdyoudsleep
dbetterdatdnight,dwilldmakedyoudlessdanxiousdaboutdmoney,danddwilldhelpdyoudmakeddecisionsdthatdtakedyo
urdlifedforward.dThisdbookdisddesigneddtodhelpdyoudturndmoneydfromdadsourcedofdstressdtodadsourcedofdc
ontrol.dNowdrelax,dpreparedtodthink,danddenjoydthedfinancialdplanningdjourneydtodcome.
Introductiond&dOverview:dOwndYourdFinancialdFuture
Paged3dofd290
, PURPOSE & AUDIENCE
d d
Thedpurposedofdthisdbookdisdtodhelpdgraduatedstudentsd–danddundergraduatedstudentsdanddevendnon-
dstudentsd–dbecomedmoredcomfortabledtalkingdaboutdfinancedanddthinkingdaboutdpersonaldfinance.
Ultimately,dthedgoaldisdtodhelpdyoudbecomedconfidentdanddself-
sufficientdwithdmanagingdyourdowndfinancesd–
dfromdborrowingdanddbudgetingdtodsavingdanddinvesting.
Thedprimarydaudiencedfordmostdofdthisdbookdisdgraduatedstudents.dBeingdadgraddstudentdisdmuchddiff
erentdfromdbeingdandundergrad:dyoudmaydbedworking,dyoudmaydbedmarried,dyoudmaydhavedkids,dyoud
maydstilldhavedstudentdloansdfromdundergrad,dyourdparentsdmightdnotdbedhelpingdpaydtuition.dOveral
l,dyourdfinancialdsituationdisdlikelydtodbedfardmoredcomplexdasdadgraddstudent.dButdthere’sdgooddnews,dto
o:dyou’redolder,dmoredmature,dmoredintelligentdanddyoudhavedadmuchdbetterdideadwhatdyoudwantdtodd
odwithdyourdlife.dYoudaredindadperfectdpositiondtodusedfinancialdplanningdtodmakedmoneydissuesdadsou
rcedofdempowermentdratherdthandadsourcedofdstress.dThisdbookdisdfordyou.
Theredaredcertaindsectionsdindthisdbookdthatdmaydbedmoredrelevantdtodolderdreadersd(suchdasdinsuranceda
nddretirementdplanning)danddcertaindcontentdthatdwilldbedusefuldtodeveryoned(suchdasdbudgetingdanddsa
ving).dIndsomedsituations,dwedaskdyoudtodimaginedyourdfuturedself,dperhapsd1dord5dord10dyearsdindthedfutu
re;dexercisesdsuchdasdthesedcandbedusefuldtodreadersdofdalldages,dregardlessdofdhowdexperienceddyoudaredw
ithdfinancialdplanning.dTrydnotdtodlimitdyourselfd–
dchallengedyourselfdtodthinkdcreativelydaboutdyourdpresentdsituationdanddaboutdyourdgoalsdandddreamsdf
ordyourdfuturedself.dThisdbookdisdaboutdyou.
Theredared6dchaptersdindthisdbook.dChaptersd1dandd6dtrydtodhelpdyoudthinkdaboutdmoneydanddfinancialdpl
anning.dWedtalkdaboutdbehaviors,demotionsdanddactions;dwedtalkdaboutdthedphilosophydofdmoney;dwed
challengedyoudtodthinkdaboutdyourdowndpersonaldrelationshipdwithdmoney.dIndChaptersd2,d3,d4dandd5,dwe
dtalkdaboutdthedtechnicaldaspectsdofdfinancialdplanning.dChapterd2disdaboutdBudgeting,dIncomed&dExpen
ses;dChapterd3dcoversdBorrowingd&dDebtdManagement;dChapterd4dcoversdSavingd&dInvestingdfordyour
dfuture;danddChapterd5dintroducesdInsurance,dTaxes,dRetirementdanddotherdSpecialdTopicsdthatdyoudwi
lldwantdtodthinkdabout,dbothdnowdanddlater.dThedfirstdtwodchaptersdaredthedmostdcriticaldchaptersdtodtak
ingdcontroldofdyourdfinancesdtoday.dChapterd3,d4dandd5daredmoredaboutdthedfuture;dthedsoonerdyoudthin
kdaboutdthem,dthedbetterdoffdyou’lldbe.dAnddChapterd6dtiesdmanydofdthedpreviousdchaptersdtogether,dfr
omdthinkingdaboutdmoneydtodpreparingdadbudgetdanddthinkingdaboutdinvesting.dEverythingdisdconnect
ed.dAnythingdyoudcandtakedawaydfromdthisdbookdwilldmakedyourdfuturedbetter.
ThisdversiondofdthedbookdisdwrittendbydfacultydatdThedUniversitydofdLouisianadatdLafayette.dAsdsuch,dth
eredaredspecificdULdLafayettedreferencesdanddexamplesdindthedbook,dwheredappropriate.dHowever,dthed
conceptsdanddexamplesdareduniversaldanddshoulddbedapplicabledtodyoudwhereverdyoudare,dwhateverdyour
dage,danddregardlessdofdwhetherdyoudaredindschool.
Thisdbookdisdadpublicdgood.dNothingdindheredisdproprietary.dPleasedprintdit,dcopydit,dsharedit,dusedit.
Paged4dofd290
