Higher Education

Personal Finance, 11th Edition

  • E. Thomas Garman Professor Emeritus, Virginia Polytechnic Institute and State University
  • Raymond E. Forgue University of Kentucky
  • ISBN-10: 1111531013  |  ISBN-13: 9781111531010
  • 640 Pages
  • Previous Editions: 2008, 2006, 2003
  • © 2012 | Published
  • College Bookstore Wholesale Price = $219.00
  • Newer Edition Available
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About

Overview

PERSONAL FINANCE offers a practical, student-friendly introduction to personal financial management. Using a structured, step-by-step approach, this market-leading text helps students learn how to save and invest, manage student loans, file taxes, decrease credit card debt, and plan for the future. Real-life scenarios, covering a wide range of financial challenges, enable students to appreciate the relevance of key concepts, and useful advice from personal finance experts helps them apply those concepts in their own lives. Many math-based examples also clearly illustrate the critical importance of achieving long-term financial goals through investing. Building on the success of previous editions, the new Eleventh Edition continues to engage students' and focus their attention on the critical concepts they need to succeed in class and to manage their finances wisely for a lifetime.

Features and Benefits

  • Updated data and coverage of today's economic situation.
  • “Do It Now!” This action, oriented 2 to 3 sentence blurb offers a quick take away for students.
  • “Your Next Five Years.” This box highlights what students will need to do in the five years post-graduation and references the material relevant in that chapter. It’s a practical, how-to box that gets students thinking about the here and now as well as their short term needs.
  • “Instant Message.” This boxed insert, designed to mimic a text message, includes quick tips and suggestions for students.
  • “What Do You Recommend” and “What Do You Recommend Now.” These chapter opening and closing narratives cover essential financial topics. The opening feature is followed by a question and four potential answers. The results are often unexpected and provide an excellent opportunity to engage students. The closing feature asks the students to come back to that opening vignette and reflect upon it after reading the chapter.
  • “Advice from a Pro.” These boxed inserts, authored by today's leading financial experts, offer practical, attainable tips for students to manage their personal finance needs.
  • “Financial Planning Cases.” These short, chapter closing cases present various finance concepts to students from the vantage point of a married couple, single person, retiree, parent, and other demographics.

Table of Contents

Part I: FINANCIAL PLANNING.
1. Understanding Personal Finance.
2. Career Planning.
3. Financial Statements, Tools, and Budgets.
Part II: MONEY MANAGEMENT.
4. Managing Income Taxes.
5. Managing Checking and Savings Accounts.
6. Building and Maintaining Good Credit.
7. Credit Cards and Consumer Loans.
8. Vehicle and Other Major Purchases.
9. Obtaining Affordable Housing.
Part III: INCOME AND ASSET PROTECTION.
10. Managing Property and Liability Risk.
11. Managing Health Expenses.
12. Life Insurance Planning.
Part IV: INVESTMENTS.
13. Investment Fundamentals.
14. Investing in Stocks and Bonds.
15. Investing Through Mutual Funds.
16. Real Estate and High-Risk Investments.
Part V: RETIREMENT AND ESTATE PLANNING.
17. Retirement Planning.
18. Estate Planning.
Appendix A: Present and Future Value Tables.
Appendix B: Estimating Social Security Benefits.
Appendix C: Glossary.
Index.

What's New

  • NEW! Chapters 5, 6, and 7 are updated to reflect the impact of statutory and regulatory requirements of the Credit Card Accountability Responsibility and Disclosure Act of 2009 or Credit CARD (CARD) Act of 2009.
  • NEW! Chapters 5, 6, 7, 13, 14 and 15 are updated to reflect the impact of statutory and regulatory requirements of the Dodd-Frank Regulatory Reform Act of 2009.
  • NEW! Chapter 4 is updated to reflect the impact of statutory and regulatory requirements of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.
  • NEW! Chapter 11 is updated to reflect the impact of statutory and regulatory requirements of the Health Care Reform Act of 2010.
  • NEW! New boxed feature, “Sean’s Success Story” is included in every chapter. This feature outlines what a successful personal financial planner would do based on the topics and content of that specific chapter.
  • NEW! New end-of-chapter exercise, “Be Your Own Personal Financial Manager” requires that the student engage in their own personal financial management by completing the worksheets and/or mathematical calculation in that chapter. Wherever appropriate, these exercises are support by Excel spreadsheets provided on the Garman/Forgue website.
  • NEW! New end-of-chapter exercise, “Action Involvement Exercises” requires students to explore the chapter further by going out to the community to discuss the topics with friends, family members and relevant financial professionals.
  • NEW! New end-of-chapter exercise, “Action Involvement Exercises” requires students to explore the chapter further by going out to the community to discuss the topics with friends, family members and relevant financial professionals.

Learning Resource Bundles

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

Bundle: Text + Finance CourseMate with eBook Printed Access Card

ISBN-10: 1133069495  | ISBN-13: 9781133069492

List Price = $304.95  | College Bookstore Wholesale Price = $229.00

This Bundle Includes:

  • Personal Finance
    List Price = $291.95  | CengageBrain Price = $291.95  | College Bookstore Wholesale Price = $219.00
  • CourseMate Printed Access Card
    List Price = $203.00  | College Bookstore Wholesale Price = $152.00


Bundle: Text + Aplia with eBook Printed Access Card

ISBN-10:  1133804888  | ISBN-13:  9781133804888

List Price = $304.95  | College Bookstore Wholesale Price = $229.00

This Bundle Includes:

  • Personal Finance
    List Price = $291.95  | CengageBrain Price = $291.95  | College Bookstore Wholesale Price = $219.00
  • Aplia™, 1 term Printed Access Card
    List Price = $134.00  | College Bookstore Wholesale Price = $100.50


Bundle: Text + My Personal Financial Planner with Worksheet

ISBN-10:  1133800718  | ISBN-13:  9781133800712

List Price = $323.95  | CengageBrain Price = $323.95  | College Bookstore Wholesale Price = $243.75

This Bundle Includes:

  • Personal Finance
    List Price = $291.95  | CengageBrain Price = $291.95  | College Bookstore Wholesale Price = $219.00
  • My Personal Financial Planner with Worksheet
    List Price = $32.95  | CengageBrain Price = $32.95  | College Bookstore Wholesale Price = $24.75


Printed Text + Aplia Instant Access

ISBN-10:  1285487613  | ISBN-13:  9781285487618

List Price = $304.95  | CengageBrain Price = $304.95  | College Bookstore Wholesale Price = $229.00

This Bundle Includes:

  • Personal Finance
    List Price = $291.95  | CengageBrain Price = $291.95  | College Bookstore Wholesale Price = $219.00
  • Aplia™, 1 term Instant Access
    List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00


ePack: Text + CengageNOW with eBook Instant Access Code

ISBN-10:  1285586093 | ISBN-13:  9781285586090

List Price = $304.95  | CengageBrain Price = $304.95  | College Bookstore Wholesale Price = $229.00

This Bundle Includes:

  • Personal Finance
    List Price = $291.95  | CengageBrain Price = $291.95  | College Bookstore Wholesale Price = $219.00
  • CengageNOW Instant Access
    List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00


Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" 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.

Instructor Supplements

My Personal Financial Planner with Worksheet  (ISBN-10: 1111825629 | ISBN-13: 9781111825621)

My Personal Financial Planner is a printed handbook for students to use in planning and organizing their personal finances. This booklet, which is bundled with the main text, contains worksheets, schedules, and planners for financial planning. Some of the worksheets in the planner allow students to do the same calculations and planning exercises as covered in the book. Others are for use in developing their own financial plans and activities. These worksheets and calculators are not intended as "busywork" for students. Rather, they represent the nuts and bolts of a student's own personal financial plan. My Personal Financial Planner has been thoroughly updated to reflect changes made in the text.

List Price = $32.95  | CengageBrain Price = $32.95  | College Bookstore Wholesale Price = $24.75

CourseMate Instant Access  (ISBN-10: 1111957258 | ISBN-13: 9781111957254)

Provide your students with a content-rich, robust set of multimedia learning tools developed specifically with the student in mind. This optional CourseMate website (http://www.cengagebrain.com) reinforces concepts from the text. A few key features include: ebook access of Personal Finance, 11th edition; updated premium quizzing for your students; access to Finance Central, which contains additional quizzes, an online glossary, games, flashcards, e-lectures presentations, calculators, worksheets for use with the end-of-chapter exercises; and much more! Cengage Learning’s new Engagement Tracker feature, allows you to track the online asset usage of the students in your class. The CourseMate website content has been thoroughly updated to reflect changes made in the text. Available bundled with the text for an additional charge.

List Price = $203.00  | CengageBrain Price = $203.00  | College Bookstore Wholesale Price = $203.00

CengageNOW Instant Access  (ISBN-10: 1111867143 | ISBN-13: 9781111867140)

CengageNOW Express is an online homework solution that delivers better student outcomes using the end-of-chapter textbook homework. Practice is integral to success in accounting and finance. CengageNOW Express uses: author-written homework from the text; algorithmic versions of quantitative problems with automatic grading and feedback; and course management tools, including Gradebook. CengageNOW Express has been thoroughly updated to reflect changes made in the text and may be bundled with the main text.

List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00

LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1305390873 | ISBN-13: 9781305390874)

Aplia significantly improves outcomes and elevates thinking by increasing student effort and engagement. Developed by teachers and used by more than 1,000,000 students Aplia assignments connect concepts to the real world and focus on the unique course challenges facing students.

List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00

Student Supplements

My Personal Financial Planner with Worksheet  (ISBN-10: 1111825629 | ISBN-13: 9781111825621)

My Personal Financial Planner is a printed handbook used for planning and organizing your personal finances. This booklet, which is bundled with the main text, contains worksheets, schedules, and planners for financial planning. Some of the worksheets in the planner will allow you to do the same calculations and planning exercises as covered in the book. Others are for your use in developing your own financial plans and activities. These worksheets and calculators are not intended as "busywork;” rather, they represent the nuts and bolts of your own personal financial plan. My Personal Financial Planner has been thoroughly updated to reflect changes made in the text.

List Price = $32.95  | CengageBrain Price = $32.95  | College Bookstore Wholesale Price = $24.75

CourseMate Instant Access  (ISBN-10: 1111957258 | ISBN-13: 9781111957254)

Make personal finance work for you and ace your finance course with the dynamic CourseMate website (http://www.cengagebrain.com). This content-rich, robust set of multimedia learning tools reinforces concepts from the text. Through hands-on learning and analysis, you have access to an ebook of Personal Finance, 11th edition; updated premium quizzing for your class and exam prep; access to Finance Central, which contains additional quizzes, an online glossary, games, flashcards, e-lectures presentations, calculators, and worksheets for use with the end-of-chapter exercises; and much more! The CourseMate website content has been thoroughly updated to reflect changes made in the text. Available bundled with the text for an additional charge.

List Price = $203.00  | CengageBrain Price = $203.00  | College Bookstore Wholesale Price = $203.00

CengageNOW Instant Access  (ISBN-10: 1111867143 | ISBN-13: 9781111867140)

CengageNOW Express is an online homework solution that delivers better student outcomes using the end-of-chapter textbook homework. Practice is integral to success in accounting and finance. CengageNOW Express uses: author-written homework from the text; algorithmic versions of quantitative problems with automatic grading and feedback; and course management tools, including Gradebook. CengageNOW Express has been thoroughly updated to reflect changes made in the text and may be bundled with the main text.

List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00

LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1305390873 | ISBN-13: 9781305390874)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00

Flash Cards, 1 term (6 months) Instant Access  (ISBN-10: 1305209354 | ISBN-13: 9781305209350)

Flash cards are effective study aids especially when you only have a limited amount of time. These flash cards work with your title and can help you to review and learn essential terms and key concepts. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $4.25  | CengageBrain Price = $4.25  | College Bookstore Wholesale Price = $4.25

Quizzing, 1 term (6 months) Instant Access  (ISBN-10: 1305206673 | ISBN-13: 9781305206670)

Quizzes are effective study aids especially when you only have a limited amount of time. These quizzes work with your title and can help you to review and learn essential terms and key concepts. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, quizzes are already included.

List Price = $5.25  | CengageBrain Price = $5.25  | College Bookstore Wholesale Price = $5.25

Quizzing with Flash Cards, 1 term (6 months) Instant Access  (ISBN-10: 1305204115 | ISBN-13: 9781305204119)

Flash cards and quizzes are effective study aids especially when you only have a limited amount of time. These flash cards and quizzes work with your title and can help you to review and learn essential terms and key concepts. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards and quizzes are already included.

List Price = $6.25  | CengageBrain Price = $6.25  | College Bookstore Wholesale Price = $6.25

MindLink for CengageNOW Instant Access  (ISBN-10: 1305581113 | ISBN-13: 9781305581111)

List Price = $134.00  | CengageBrain Price = $134.00  | College Bookstore Wholesale Price = $134.00

Meet the Author

Author Bio

E. Thomas Garman

A renowned author, advisor, and academic, Garman is a Fellow and Distinguished Professor Emeritus of Virginia Tech University, where he directed the National Institute for Personal Finance Employee Education. He subsequently founded the Personal Finance Employee Education Foundation. Author of 40 book's and 200 academic research articles, Garman directed several award-winning research studies that link the financial fortunes of employers with the financial health of their employees. Research consistently shows that decreasing employee financial distress and improving personal financial well-being creates better workers. Garman's research has been the most cited in the field for over 20 years. He has worked for a U.S. senator in Washington, D.C., in economic development in West Africa, and for a national non-profit credit counseling organization. He is an elected Distinguished Fellow of both the Association for Financial Counseling and Planning Education and the American Council on Consumer Interests. Garman has served on advisory boards for the Board of Governors of the Federal Reserve System, International Board of Standards and Practices for Certified Financial Planners, American National Standards Institute, National Foundation for Credit Counseling, U.S. Food and Drug Administration, and National Advertising Review Board. His consulting includes work for Profit Sharing/401(k) Council of America, Manulife Financial, AT&T, U.S. Navy, U.S. Army, and U.S. Department of Defense. His work has been featured in hundreds of publications, including USA Today, New York Times, The Washington Post, The Los Angeles Times, and U.S. News & World Report, and he has appeared on National Public Radio and NBC Nightly News.

Raymond E. Forgue

Raymond Forgue retired after 28 years as an associate professor in the Department of Family Studies at the University of Kentucky. He served as chair of the department and acting dean of the College of Human Environmental Sciences. Forgue taught various courses in consumer studies, personal finance, and insurance. His professional service has included the presidency of the American Council of Consumer Interests and the Association for Financial Counseling and Planning Education. Since retirement he has continued to write and consult on personal finance education training for the Accredited Financial Counselor certification program, AARP, and other organizations. Forgue serves on the Boards of the Personal Finance Employee Education Foundation and the National Association of Personal Financial Advisors.