Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
7th Edition
ISBN: 9780133856439
Author: Arthur J. Keown
Publisher: PEARSON
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Chapter 1, Problem 7PA
Summary Introduction
To discuss:
Importance of principle 5 and principle 7 and their correlation.
Introduction:
Principle 5 tells about the importance of the liquidity because future is uncertain and one may needs fund anytime, so some fund should be liquid so one can use it when required.
Principle 7 tells that sometime major catastrophes happen and in order to protect yourself one should have enough funds or should take insurance to cover that.
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Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
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