Nelson Higher Education

Higher Education

Personal Finance, 12th Edition

  • E. Thomas Garman
  • Raymond E. Forgue
  • ISBN-10: 1133595839
  • ISBN-13: 9781133595830
  • 608 Pages | Hardcover
  • Previous Editions: 2012, 2008, 2006
  • COPYRIGHT: 2015 Published
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Overview

About the Product

PERSONAL FINANCE 12E offers a practical, student-friendly introduction to personal financial management. Using a structured, step-by-step approach, this market-leading text helps students learn how to save and invest, manage student loans, file taxes, decrease credit card debt, and plan for the future. Real-life scenarios, covering a wide range of financial challenges, enable students to appreciate the relevance of key concepts, and useful advice from personal finance experts helps them apply those concepts in their own lives. Many math-based examples clearly illustrate the critical importance of achieving long-term financial goals through investing. Building on the success of previous editions, the new Twelfth Edition continues to engage students and focus their attention on critical concepts they need to succeed in class and to manage their finances wisely for a lifetime.

Features

  • "Do It NOW!" This action-oriented 2-3 sentence blurb offers a quick takeaway for students.

  • "Your Next Five Years." This box highlights what students will need to do in the five years post-graduation and references the material relevant in that chapter. It's a practical, how-to box that gets students thinking about the here and now as well as their short term needs.

  • "Instant Message." This boxed insert, designed to mimic a text message, includes quick tips and suggestions for students.

  • "What Do You Recommend?" and "What Do You Recommend Now?" These chapter opening and closing narratives cover essential financial topics. The opening feature is followed by a question and four potential answers. The results are often unexpected and provide an excellent opportunity to engage students. The closing feature asks the students to come back to that opening vignette and reflect upon it after reading the chapter.

  • "Advice from a Professional." These boxed inserts, authored by today's leading financial experts, offer practical, attainable tips for students to manage their personal finance needs.

  • "Financial Planning Cases." These short, chapter closing cases present various finance concepts to students from the vantage point of a married couple, single person, retiree, parent, and other demographics.

About the Author

E. Thomas Garman

A renowned author, advisor, and academic, Dr. E. Thomas Garman is a Fellow and Distinguished Professor Emeritus of Virginia Tech University, where he directed the National Institute for Personal Finance Employee Education. He subsequently founded the Personal Finance Employee Education Foundation. Author of 40 books and 200 academic research articles, Dr. Garman directed several award-winning research studies that link the financial fortunes of employers with the financial health of their employees. His research consistently showed that decreasing employee financial distress and improving personal financial well-being created better workers. Dr. Garman's research has been the most cited in the field for more than 20 years. He has worked for a U.S. senator in Washington, D.C., in economic development in West Africa and for a national non-profit credit counseling organization. He is an elected Distinguished Fellow of both the Association for Financial Counseling and Planning Education and the American Council on Consumer Interests. Dr. Garman has served on advisory boards for the Board of Governors of the Federal Reserve System, International Board of Standards and Practices for Certified Financial Planners, American National Standards Institute, National Foundation for Credit Counseling, U.S. Food and Drug Administration and National Advertising Review Board. His consulting includes work for Profit Sharing/401(k) Council of America, Manulife Financial, AT&T, U.S. Navy, U.S. Army and U.S. Department of Defense. His work has been featured in hundreds of publications, including USA Today, New York Times, The Washington Post, The Los Angeles Times and U.S. News & World Report, and he has appeared on National Public Radio and NBC Nightly News.

Raymond E. Forgue

Raymond Forgue retired after 28 years as an associate professor in the Department of Family Studies at the University of Kentucky. He served as chair of the department and acting dean of the College of Human Environmental Sciences. Dr. Forgue taught various courses in consumer studies, personal finance and insurance. He has also served as president of the American Council of Consumer Interests and the Association for Financial Counseling and Planning Education. Since retirement, Dr. Forgue has continued to write and consult on personal finance education training for the Accredited Financial Counselor certification program, AARP and other organizations. Dr. Forgue serves on the Boards of the Personal Finance Employee Education Foundation and the National Association of Personal Financial Advisors.

Table of Contents

Part I: FINANCIAL PLANNING.
1. Understanding Personal Finance.
2. Career Planning.
3. Financial Statements, Tools, and Budgets.
Part II: MONEY MANAGEMENT.
4. Managing Income Taxes.
5. Managing Checking and Savings Accounts.
6. Building and Maintaining Good Credit.
7. Credit Cards and Consumer Loans.
8. Vehicles and Other Major Purchases.
9. Obtaining Affordable Housing.
Part III: INCOME AND ASSET PROTECTION.
10. Managing Property and Liability Risk.
11. Planning for Health Care Expenses.
12. Life Insurance Planning.
Part IV: INVESTMENTS.
13. Investment Fundamentals.
14. Investing in Stocks and Bonds.
15. Investing Through Mutual Funds.
16. Real Estate and High-Risk Investments.
17. Retirement and Estate Planning.

New to this edition

  • This 12th edition of Personal Finance has been heavily revised, and it sets a new higher standard in the field. The text involves the student in genuinely learning the subject, particularly through newly created information presented in boxes, enhanced end-of-chapter activities, and innovative "prescriptions" from the authors. Your authors are the "Doctors of Personal Finance"--with 80 years of teaching experience, 65 years of experience writing college textbooks, and writing over 200 research articles. By drawing on their years of experience, the authors have made the 12th edition more than just a compilation of what to know. This edition emphasizes what are the "right things to do in personal finance, why, and then how to do them."
  • This 12th edition balances all the pieces of wise financial planning. In addition to updating and enhancing the quality of the content, this edition stimulates student interest in several new ways. The revised end-of-chapter activities are phenomenal. One continuing case is that of "Julia Price," whose successful financial life evolves through challenging economic times. Her case always ends with a question to challenge the student: "Offer your opinions about her thinking."
  • This edition includes five or six case problems in each chapter. The "Be Your Own Financial Planner" feature focuses on personalizing the concepts and lessons contained in the student workbook. These activities are not busy-work. They are concrete questions and tasks that require applying the knowledge provided in each chapter at a personal level.
  • All of the "On the 'Net" activities have been designed to carefully direct students to online materials that are genuinely useful and appropriate for this time in their personal financial lives.
  • The 12th edition includes over 35 new headings, more than 90 new boxed inserts, over 40 new terms, and lots of new and expanded material. This edition connects all the pieces of personal finance in a comprehensive manner, shows students the relevancy of the topics, and requires students to do a reality check on their own finances. As a result, your students will succeed!

Supplements

All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Website  (ISBN-10: 1305085078 | ISBN-13: 9781305085077)

The companion website for Garman/Forgue's Personal Finance 12e has everything you need to enhance instruction in your course. Access the site at www.cengage.com. Here you'll find PowerPoints, the Instructor's Resource Manual, the Solutions Manual, and a number of student-focused tools like Excel calculators, flashcards, a glossary, and tutorial quizzes.

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305084721 | ISBN-13: 9781305084728)

Cengage Learning Testing Powered by Cognero is a flexible, online system that allows you to: Author, edit, and manage test bank content from multiple Cengage Learning solutions; create multiple test versions in an instant; deliver tests from your learning management system, your classroom or wherever you want!

My Personal Financial Planner with Worksheets  (ISBN-10: 1285096630 | ISBN-13: 9781285096636)

My Personal Financial Planner is a printed handbook for students to use in planning and organizing their personal finances. This booklet, which is bundled with the main text, contains worksheets, schedules, and planners for financial planning. Some of the worksheets in the planner allow students to do the same calculations and planning exercises as covered in the book. Others are for use in developing their own financial plans and activities. These worksheets and calculators are not intended as "busywork" for students. Rather, they represent the nuts and bolts of a student's own personal financial plan. My Personal Financial Planner has been thoroughly updated to reflect changes made in the text.

MindTap Finance, 1 term (6 months) Instant Access for Garman/Forgue's Personal Finance  (ISBN-10: 1305502698 | ISBN-13: 9781305502697)

MindTap Finance for Garman/Forgue’s Personal Finance, 12th Edition is the digital learning solution that helps instructors engage and transform today's students into critical thinkers. Through paths of dynamic assignments and applications that you can personalize, real-time course analytics, and an accessible reader, MindTap helps you turn cookie cutter into cutting edge, apathy into engagement, and memorizers into higher-level thinkers. Attention: This MindTap contains Flash-based content. Due to the year-end retirement of Adobe Flash, we will no longer support this unique digital solution after November 30th. Please contact your Cengage Sales Representative to find an alternative Flash free MindTap. https://www.cengage.com/repfinder/

LMS Integrated for MindTap Finance, 1 term (6 months) Instant Access  (ISBN-10: 1305502701 | ISBN-13: 9781305502703)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

Student Supplements

My Personal Financial Planner with Worksheets  (ISBN-10: 1285096630 | ISBN-13: 9781285096636)

My Personal Financial Planner is a printed handbook used for planning and organizing your personal finances. This booklet, which is bundled with the main text, contains worksheets, schedules, and planners for financial planning. Some of the worksheets in the planner will allow you to do the same calculations and planning exercises as covered in the book. Others are for your use in developing your own financial plans and activities. These worksheets and calculators are not intended as "busywork;" rather, they represent the nuts and bolts of your own personal financial plan. My Personal Financial Planner has been thoroughly updated to reflect changes made in the text.

MindTap Finance, 1 term (6 months) Instant Access for Garman/Forgue's Personal Finance  (ISBN-10: 1305502698 | ISBN-13: 9781305502697)

MindTap Finance for Garman/Forgue's Personal Finance, 12th Edition provides you with the tools you need to better manage your limited time -- you can complete assignments whenever and wherever you are ready to learn with course material specially customized for you by your instructor and streamlined in one proven, easy-to-use interface. With an array of tools and apps -- from flashcards to note taking -- you'll get a true understanding of course concepts, helping you to achieve better grades and setting the groundwork for your future courses.

LMS Integrated for MindTap Finance, 1 term (6 months) Instant Access  (ISBN-10: 1305502701 | ISBN-13: 9781305502703)

This access code will provide you with seamless access to your MindTap Finance resources from within your campus Learning Management System. You will be prompted to enter this access code the first time that you click on a link in your course that includes Cengage content.