Description: With a new year underway, here is an opportunity to take steps to improve your personal finances. Sandra Fry of the Credit Counseling Society offers six tips to help guide your financial behaviours, starting with the need to understand where you are spending your money right now. In other words, where does your money go? If implementing all six steps seems a bit overwhelming, Fry recommends starting with just one.
Date: January 13, 2023
1) Do you have a good handle on where your money is going?
2) Of six steps mentioned in the article, which one do you feel would be the most difficult to implement? Why?
3) Pages 7-25 to 7-27 of Wiley’s Financial Accounting: Tools for Business Decision-Making lay out six principles businesses can use to manager their cash. How do these six match up with those offered by Sandra Fry for individuals?