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Personal Finance 2019: Day 1

Our first day in this course we began by answering a few questions about our personal relationships to money. We answered a few questions having to do with our relationships with money and then began discussing the relationship between financial success and overall happiness, but in order to better define financial success we separated spending into three categories. We determined goods can be classified as needs comforts luxuries or clutter. We did an exercise where we observed things around us run the school and determined if they were needs, comforts, luxuries, or clutter. After getting a better understanding of necessity of goods, we looked at a graph depicting the relationship between money spent and satisfaction. One saying that we thought fit in really well with the graph was: the two best days of being a boat owner are the day you buy the boat, and the day you sell the boat.
The idea is that stress not only comes around when you do not have enough money, but if you have too much. If you spend a large amount of money on a boat, for example, it introduces many new stressors into your life such as storage, cleaning, and protection for your new boat.

One of the highlights of the day was a presentation on banking from Andrew and Sierra. The presentation covered types of banks, credit and debt. It was very informative and will hopefully help us all out in the future.

After lunch we started to set up our "game of life" that will act as our financial road map throughout the term. We also set up a Stockmarket simulation that we will be participating in throughout the term. Our first day was very productive, and I look forward to diving into greater depths of the financial world.


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