Many financial planners recommend that you begin your financial plan by accumulating an emergency fund that is at least 00 (and then slowly accumulate up to 3 months living expenses for your rainy day fund). Do you think this is a good idea? How would it change your reaction to a car repair or other unexpected expense? Do you have the discipline to set aside money each month for the future? How does your retirement planning look right now — especially if you are one of the more "mature" members of the class?
Many experts believe that an important part of personal financial management involves developing a budget. Have you used a budget in the past? Has it worked well for you, or not? What challenges do you find in the budgeting process? Are you a spender or a saver?
Have you been a member of a labor union? Did the union serve you and its other members well in negotiations and resolution of grievances? How does the history of the union movement affect all workers in the U.S. today?
Do you think that unions are needed in businesses like Wal-Mart (the largest private employer in the world) or Honda of America Manufacturing (located in Central Ohio)? Or have the folks that organize unions blown some issues out of proportion and unfairly portrayed workplace problems?
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To answer your question directly:
Saver. I spend on my family. I’m cheap to myself.
1) Yes
2) None, unless the expense was very very large. But for me a car repair is minor.
3) Yes
4) Very good. I could retire today with an average quality of living, but I want a better quality of living.
5) Yes
6) Yes
7) Challenge is finding what is a "normal" month for spending. When you look at budgets, something unusual always happens every month, so you have to account for the one-off things that keep happening.
9) No.
10) n.a
11) Oh boy… I’m not going to write an essay on the history of US Unions, but it would be a chance for me to break out "Samuel Gompers" again, who I haven’t thought about in decades.
12) No.
13) Yes.