Personal Financial Planning, 12th Edition

  • Lawrence J. Gitman San Diego State University - Emeritus
  • Michael D. Joehnk Arizona State University
  • Randy Billingsley Virginia Tech University
  • ISBN-10: 1439044473
  • ISBN-13: 9781439044476
  • 576 Pages Hardcover 
  • Previous Editions: 2008, 2005, 2005
  • © 2011 | Published
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About The Solution

Overview

In the midst of today's shifting financial environment and fast-paced, changing lives, it's more important than ever before that your students gain a solid foundation in personal financial planning. Gitman/Joehnk/Billingsley's market-leading PERSONAL FINANCIAL PLANNING, 12E provides students with the tools, techniques, and understanding they need to define and achieve their financial goals. The book follows a life-cycle approach -- addressing financial plans, assets, credit, insurance, investment, and retirement -- as individuals and families progress through a lifetime. The latest updates throughout this edition reflect the most recent financial developments and research -- from new tax laws and the latest financial data to professional financial advice that considers the impact of the recent global financial crisis. This edition's inviting new design incorporates opening vignettes, cases, and numerous examples from life with an integrated learning system to ensure understanding. Step-by-step features teach students to use today's most critical financial tools and technology, including financial planning software. CFP® practice questions provide valuable student practice. A complete support package, including CengageNOW online course management system, saves you time as you put the best in personal financial planning in your students' hands.


Additional Product Information

Features/Benefits

  • FRESH, NEW "MONEY IN ACTION" FEATURES EXPAND ON CHAPTER TOPICS -- Brief "Money in Action" boxes with corresponding Critical Thinking Questions present a variety of interesting information that helps enrich the text discussions. Features highlight actual financial planning ideas, real experiences and businesses practices, and events. For your flexibility, many of the previous edition's "Money in Action" boxes now appear on the text's companion web site.
  • TIMELY, UPDATED "FINANCIAL ROAD SIGNS" OFFER HELPFUL HINTS AND VALUABLE SUGGESTIONS FOR FINANCIAL DECISIONS -- These brief, helpful "Financial Road Signs" suggest what students should consider when implementing parts of a financial plan and making personal financial decisions in today's times. Students will find invaluable advice on developing budgets, student debt, online banking, purchasing vehicles, using debit cards, buying health or life insurance, investing, avoiding online job-search mistakes, and much more.
  • INTERNET "SMART SITES" GUIDE READERS TO VALUABLE WEB SITES THAT BROADEN UNDERSTANDING -- Six to eight "Smart Sites" in each chapter direct students to carefully selected Internet sites that further explore key financial planning concepts discussed in the book. Students gain important new insights into the topics. Additional discussions give students a better understanding of how today's Internet and personal computers assist in the various phases of personal finance planning.
  • INTEGRATED LEARNING SYSTEM ANCHORS AND GUIDES EFFECTIVE LEARNING -- Each chapter opens with six clear Learning Goals that link the chapter's material to specific learning outcomes. Learning Goals match to chapter headlines, summaries, and end-of-chapter problems to direct learning. Corresponding "Concept Checks" at the end of each major section ensure students thoroughly understand the material before moving ahead.
  • UPDATED END-OF-CHAPTER FEATURES ENSURE COMPREHENSION AND PRACTICAL APPLICATION -- Useful "Summaries" at the end of each chapter relate review back to Learning Goals, while "Financial Planning Exercises" and "Critical Thinking Cases" allow students to test and apply their understanding of the material. "Applying Personal Finance" outside-of-class projects or exercises and "Worksheets" corresponding to end-of-chapter problems help students manage their own personal finances. Improved "Money Online" links connect students to useful Web sites and provide Web-related interactive exercises.

What's New

  • THOROUGH UPDATES EXAMINE THE IMPACT OF THE RECENT GLOBAL FINANCIAL CRISIS ON PERSONAL FINANCIAL PLANNING -- Students clearly see the effects of today's financial and economic crises on areas contemporary personal financial planning, based on the latest research and input from practicing professionals and leading instructors. However, the book continues to emphasize how key principles of personal financial planning -- saving, diversifying investments, watching expenditures, and borrowing carefully -- remain valid.
  • NEW AUTHOR RANDY BILLINGSLEY BRINGS AWARD-WINNING EXPERIENCE AND FRESH PERSPECTIVE -- A recognized leader in teaching finance at Virginia Tech, this edition's newest author--Dr. Randy Billingsley--adds a fresh voice of experience in today's financial planning. Dr. Billingsley has earned awards for his undergraduate and graduate instruction. His timely research, first-hand experience in working with top organizations as a financial consultant, and his knowledge of the CFA exam enable him to contribute significantly to this edition's strong coverage of personal finance topics.
  • CRISP, EXCITING, AND FRIENDLY NEW DESIGN ENCOURAGES STUDENTS UNDERSTANDING -- Based on feedback from current instructors, financial planners and even students, this edition incorporates numerous updates and a completely fresh design to ensure the book presents financial information in a clear, concise and understandable manner. Updated, practical sidebar discussions throughout this edition provide useful tips and guidelines, while numerous learning features reinforce the inviting, meaningful design.
  • THE MOST CURRENT UPDATES AVAILABLE REFLECT THE LATEST TAX LAWS AND FINANCIAL DATA -- The latest updates to this leading text incorporate all of the newest tax laws with special sections on tax preparation as well as recent personal examples, and contemporary financial advice. The latest financial data, figures, and tables keep your course up-to-date as you present text content.
  • THE LATEST COVERAGE ADDRESSES TODAY'S MOST PERTINENT FINANCE TOPICS FOR STUDENTS -- This edition examines the latest significant financial developments as well as topics most important for your students. The book presents the Credit Card Act of 2009 for consumers, new information on managing personal finances in tough economic times, sections on purchasing automobiles and housing with new market developments, sources of reliable financial information on the Internet, investments and savings in the midst of recession, the impact of health care reform on insurance, and more.

Best Buy Packages

Other Popular Packages

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Cengage Learning representative for more information.


Bundle: Text + Finance Central Printed Access Card
ISBN-10: 1111415935  | ISBN-13: 9781111415938


Printed Text + CengageNOW Instant Access Code
ISBN-10:  1111707669 | ISBN-13:  9781111707668


Table of Contents

Part I: FOUNDATIONS OF FINANCIAL PLANNING.
1. Understanding the Financial Planning Process.
2. Developing Your Financial Statements and Plans.
3. Preparing Your Taxes.
Part II: MANAGING BASIC ASSETS.
4. Managing Your Cash and Savings.
5. Making Automobile and Housing Decisions.
Part III: MANAGING CREDIT.
6. Using Credit.
7. Using Consumer Loans.
Part IV: MANAGING INSURANCE NEEDS.
8. Insuring Your Life.
9. Insuring Your Health.
10. Protecting Your Property.
Part V: MANAGING INVESTMENTS.
11. Investment Planning.
12. Investing in Stocks and Bonds.
13. Investing in Mutual Funds and Real Estate.
Part VI: RETIREMENT AND ESTATE PLANNING.
14. Planning for Retirement.
15. Preserving Your Estate.

Supplements

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Interactive eBook  (ISBN-10: 0538481919 | ISBN-13: 9780538481915)


Finance CourseMate with eBook Instant Access Code  (ISBN-10: 1111186014 | ISBN-13: 9781111186012)


Electronic Worksheets  (ISBN-10: 1439044678 | ISBN-13: 9781439044674)

These updated electronic worksheets, highly regarded for their effective approach, simplify demonstrations of various calculations and procedures. Their interactive approach allows students to use them multiple times to complete corresponding end-of-chapter problems. Worksheets are downloadable in PDF format and can be saved for student use.


ExamView®  (ISBN-10: 1439044686 | ISBN-13: 9781439044681)

This easy-to-use test-creation program for Microsoft® Windows or Macintosh contains all questions from the printed Test Bank. It's simple to customize tests to your specific class needs as you edit or create questions and store customized exams. This is an ideal tool for online testing. For your convenience the software is available on the IRCD or text companion Web site.


CengageNOW Instant Access Code  (ISBN-10: 1439078254 | ISBN-13: 9781439078259)

This robust, online course management system gives you more control in less time and delivers better student outcomes -- NOW. CengageNOW for Finance includes teaching and learning resources organized around lecturing, creating assignments, grading, quizzing, and tracking student progress and performance. Flexible assignments, automatic grading and a gradebook option provide more control while saving you valuable time. A Personalized Study diagnostic tool empowers students to master concepts, prepare for exams, and become more involved in class.


Bring your lectures to life and clarify difficult concepts with slides for this edition that are designed to capture and keep your students' attention. These slides serve as excellent guides for student note-taking and study. For your convenience, they are available online and on the Instructor's Resource CD.


Instructor's Resource CD-ROM  (ISBN-10: 143904466X | ISBN-13: 9781439044667)

Place all of the key teaching resources you need for a winning course at your fingertips with this all-in-one source. Find everything you need to plan, teach, grade and assess student understanding and progress. This Instructor's Resource CD includes the Instructor's Manual, Test Bank in Word and ExamView®, and PowerPoint® slides.


Instructor's Manual with Test Bank  (ISBN-10: 1439044635 | ISBN-13: 9781439044636)

Designed to assist with your most pressing teaching needs, this comprehensive manual contains answers to all text questions and problems, solutions to "Concept Checks" and integrative problems, detailed lecture notes, and chapter outlines. You can efficiently assess your students' knowledge with a comprehensive selection of multiple-choice questions and short-answer problems for each chapter. This Manual is available online and on the Instructor's Resource CD. A Word version of the Test Bank and ExamView Electronic Customized Testing is also available on the IRCD.


Finance CourseMate  (ISBN-10: 1111186006 | ISBN-13: 9781111186005)


Planning Your Personal Finances, International Edition  (ISBN-10: 1439044481 | ISBN-13: 9781439044483)

In the midst of today's shifting financial environment and fast-paced, changing lives, it's more important than ever before that your students gain a solid foundation in personal financial planning. Joehnk/Billingsley/Gitman's market-leading PLANNING YOUR PERSONAL FINANCES, 12th, International Edition provides students with the tools, techniques, and understanding they need to define and achieve their financial goals. The book follows a life-cycle approach — addressing financial plans, assets, credit, insurance, investment, and retirement — as individuals and families progress through a lifetime. The latest updates throughout this edition reflect the most recent financial developments and research — from new tax laws and the latest financial data to professional financial advice that considers the impact of the recent global financial crisis. This edition's inviting new design incorporates opening vignettes, cases, and numerous examples from life with an integrated learning system to ensure understanding. Step-by-step features teach students to use today's most critical financial tools and technology, including financial planning software. CFP® practice questions provide valuable student practice. A complete support package, including CengageNOW™ online course management system, saves you time as you put the best in personal financial planning in your students' hands.


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Interactive eBook  (ISBN-10: 0538481919 | ISBN-13: 9780538481915)


Finance CourseMate with eBook Instant Access Code  (ISBN-10: 1111186014 | ISBN-13: 9781111186012)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Access an integrated eBook, learning tools including flashcards, quizzes, and more, all designed specifically to work with PERSONAL FINANCIAL PLANNING, 12th Edition.


Electronic Worksheets  (ISBN-10: 1439044678 | ISBN-13: 9781439044674)

These highly regarded electronic worksheets clearly demonstrate various calculations and procedures with an interactive approach that allows you to use them multiple times to complete corresponding end-of-chapter problems. Worksheets are downloadable in PDF format.


CengageNOW Instant Access Code  (ISBN-10: 1439078254 | ISBN-13: 9781439078259)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.


Finance CourseMate  (ISBN-10: 1111186006 | ISBN-13: 9781111186005)


Planning Your Personal Finances, International Edition  (ISBN-10: 1439044481 | ISBN-13: 9781439044483)

In the midst of today's shifting financial environment and fast-paced, changing lives, having a strong personal financial plan is more important than ever for success in life. The market-leading PLANNING YOUR PERSONAL FINANCES, 12th, International Edition equips you with the tools and techniques you need to better understand, define, and achieve your financial goals. The book follows a life-cycle approach that prepares you to make financial plans and decisions about assets, credit, insurance, investment, and retirement as you progress through life. The latest updates throughout this edition reflect the most recent financial developments and research — from new tax laws to the impact of the recent global financial crisis. Written in a conversational style with a new, inviting design, this edition reinforces solid financial principles with expert advice, helpful tools and examples of both financial successes and failures drawn from actual life. You learn how to effectively use technology for financial planning, including the Internet and financial planning software. The innovative CengageNOW online learning system helps with homework and achieving the grade you want. Put the power of personal financial success in your hands with PLANNING YOUR PERSONAL FINANCES, 12th, International Edition.


Meet the Author

About the Author

Lawrence J. Gitman

Dr. Lawrence J. Gitman is an emeritus professor of finance at San Diego State University. He received his B.A. from Purdue University, M.B.A. from the University of Dayton, and Ph.D. from the University of Cincinnati. Dr. Gitman is a prolific author and has more than 50 articles appearing in Financial Management, the Financial Review, the Journal of Financial Planning, the Journal of Risk and Insurance, the Financial Services Review, the Journal of Financial Research, Financial Practice and Education, the Journal of Financial Education, and other scholarly publications. He has authored and co-authored numerous best-selling textbooks on various finance and business topics as well as investing. Authors Gitman and Joehnk's INVESTMENT FUNDAMENTALS: A GUIDE TO BECOMING A KNOWLEDGEABLE INVESTOR was selected as one of 1988's ten best personal finance books by Money magazine. An active member of numerous professional organizations, Dr. Gitman is past president of the Academy of Financial Services, the San Diego Chapter of the Financial Executives Institute, the Midwest Finance Association, and the FMA National Honor Society. In addition, he is a Certified Financial Planner® (CFP®). Dr. Gitman formerly served as a director on the CFP® Board of Governors, as vice president–financial education for the Financial Management Association, and as director of the San Diego MIT Enterprise Forum. He has two grown children and lives with his wife in La Jolla, California, where he is an avid cyclist.

Michael D. Joehnk

Michael D. Joehnk is an emeritus professor of finance at Arizona State University. In addition to his academic appointments at ASU, Dr. Joehnk spent a year as a visiting professor of finance at the University of Otago in New Zealand. He received his B.A. and Ph.D. degrees from the University of Arizona and his M.B.A. from Arizona State University. A Chartered Financial Analyst (CFA), he has served as a member of the Candidate Curriculum Committee and of the Council of Examiners of the Institute of Chartered Financial Analysts. He has also served as a director of the Phoenix Society of Financial Analysts and as secretary-treasurer of the Western Finance Association, and was elected to two terms as vice-president of the Financial Management Association. Dr. Joehnk has authored or co-authored more than 50 articles, five popular books, and numerous monographs. In addition to co-authoring several books with Dr. Gitman, Dr. Joehnk wrote the highly successful paperback tradebook, INVESTING FOR SAFETY'S SAKE. He has also served as editor and has contributed to several other prominent books. His articles have appeared in Financial Management, the Journal of Finance, the Journal of Bank Research, the Journal of Portfolio Management, the Journal of Consumer Affairs, the Journal of Financial and Quantitative Analysis, the AAII Journal, the Journal of Financial Research, the Bell Journal of Economics, the Daily Bond Buyer, Financial Planner, and other publications. Dr. Joehnk served a six-year term as executive co-editor of the Journal of Financial Research. He and his wife live in Flagstaff, Arizona, where they enjoy hiking and other activities in the nearby mountains and canyons.

Randy Billingsley

Dr. Billingsley is a finance professor at Virginia Tech University and is an award-winning teacher at both the undergraduate and graduate levels. His research, consulting, and teaching focus on equity valuation, risk management and derivatives-based strategies, and regulatory finance. In 2006 he published a financial analysis book with the Wharton School. In addition, his research has been published in refereed journals, including the Journal of Portfolio Management, the Journal of Banking and Finance, Financial Management, the Journal of Financial Research, and the Journal of Futures Markets. As a consultant, Dr. Billingsley has served as an expert witness on equity valuation, capital cost estimation, and economic damages analysis. His consulting clients include BellSouth Telecommunications, the United States Telecommunications Association, LECG, Sprint and others. A CFA charter-holder, Dr. Billingsley has taught CFA examination review courses at multiple levels for the last 15 years throughout the U.S., Europe and Asia. He is the author of Portfolio Management, Equity Investments and Alternative and Derivative Investments in Candidate Study Notes, Volumes 3 and 4.