Higher Education

Personal Financial Planning, 13th Edition

  • Lawrence J. Gitman San Diego State University - Emeritus
  • Michael D. Joehnk Arizona State University
  • Randy Billingsley Virginia Tech University
  • ISBN-10: 1111971633  |  ISBN-13: 9781111971632
  • 656 Pages
  • Previous Editions: 2011, 2008, 2005
  • © 2014 | Published
  • College Bookstore Wholesale Price = $219.00
  • Newer Edition Available

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About

Overview

Knowing what to do with your money is more important than ever. Gitman/Joehnk/Billingsley’s market-leading PERSONAL FINANCIAL PLANNING, 13E, 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 life. The latest updates 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. The 13th edition is packed with new information relevant to students--for example, changing spending habits for the better, knowing the right questions to ask a financial adviser, using tips on budgeting and planning for retirement, knowing what to look for when choosing a bank, knowing whether to buy or lease a car, knowing what’s important when buying your first home, and choosing the right credit card. All-new features teach students to use today’s 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 students’ hands.

Features and Benefits

  • THOROUGH UPDATES BRING A MORE PERSONAL TOUCH TO THE SUBJECT MATTER. A friendly tone helps relate big financial ideas to students’ everyday lives, based on the latest research and input from practicing professionals and leading instructors. The book continues to emphasize how key principles of personal financial planning--saving, diversifying investments, watching expenditures, and borrowing carefully--remain valid.
  • CRISP, EXCITING, AND FRIENDLY NEW DESIGN ENCOURAGES STUDENTS’ UNDERSTANDING. Based on feedback from current instructors, financial planners, and students, this edition incorporates numerous updates and a fresh design to ensure that the book presents financial information in a clear, concise, and understandable manner. Updated, practical sidebar discussions provide useful tips and guidelines, and numerous learning features reinforce the inviting, meaningful design.
  • 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, handling student debt, doing 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 WEBSITES 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 chapter headlines, summaries, and end-of-chapter problems to direct learning. Corresponding “Concept Checks” at the end of each major section ensure that students thoroughly understand the material before moving on.
  • STUDENTS WILL RELATE TO CHAPTER CONTENT IMMEDIATELY. A How Will This Affect Me? feature appears at the beginning of each chapter. The feature explains in plain language why students should find the chapter’s topic relevant to their life, engaging students from the start.
  • UPDATED END-OF-CHAPTER FEATURES ENSURE COMPREHENSION AND PRACTICAL APPLICATION. Useful Summaries at the end of each chapter relate review back to Learning Goals, and 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 personal finances.

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.

What's New

  • 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 new PLANNING OVER A LIFETIME feature appears at the end of most chapters. This chart applies the chapter’s subject matter to each stage of life, showing students what they should do at any given age to make the most of their money.
  • THE LATEST COVERAGE ADDRESSES TODAY’S MOST PERTINENT FINANCE TOPICS FOR STUDENTS. This edition examines the latest significant financial developments as well as the most important topics for students. The book focuses on setting attainable goals, having a realistic budget, choosing the right bank and credit card, knowing how and when to best use a debit card, arranging an auto loan, choosing the right kind of life insurance, managing personal finances in tough economic times, purchasing automobiles and housing with new market developments, identifying sources of reliable financial information on the Internet, learning about investments and savings in the midst of recession, understanding the impact of health care reform on insurance, and more.
  • The new BEHAVIOR MATTERS feature uses real-life statistics and personal questions to get students thinking about how altering their everyday behavior can result in bigger savings and more confidence in their financial plan.

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 + Aplia™ 1 term Printed Access Card

ISBN-10: 1285717929  | ISBN-13: 9781285717920

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

This Bundle Includes:

  • Personal Financial Planning
    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 + MindTap® Finance, 2 terms (12 months) Printed Access Card

ISBN-10:  1305362578 | ISBN-13:  9781305362574

List Price = $317.95  | CengageBrain Price = $317.95  | College Bookstore Wholesale Price = $239.00

This Bundle Includes:

  • Personal Financial Planning
    List Price = $291.95  | CengageBrain Price = $291.95  | College Bookstore Wholesale Price = $219.00
  • MindTap® Finance, 2 terms (12 months) Printed Access Card for Gitman/Joehnk/Billingsley’s Personal Financial Planning
    List Price = $145.00  | College Bookstore Wholesale Price = $108.75


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.

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Instructor Supplements

Instructor's Manual with Test Bank  (ISBN-10: 1133962564 | ISBN-13: 9781133962564)

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 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 also is available on the IRCD.

Instructor’s Resource CD-ROM  (ISBN-10: 1133962599 | ISBN-13: 9781133962595)

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.

CourseMate Instant Access  (ISBN-10: 1285419391 | ISBN-13: 9781285419398)

Provide students with a content-rich 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, 11e; updated premium quizzing for students; access to Finance Central, which contains additional quizzes, an online glossary, games, flash cards, e-lectures, calculators, and worksheets for use with the end-of-chapter exercises; and much more. Cengage Learning’s new Engagement Tracker allows you to track the online asset usage of the students in your class. The content of the CourseMate website has been thoroughly updated to reflect changes made in the text.

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

CengageNOW Instant Access  (ISBN-10: 1285419367 | ISBN-13: 9781285419367)

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.

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

Aplia™, 1 term Instant Acces  (ISBN-10: 1285181719 | ISBN-13: 9781285181714)

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MindTap® Finance, 2 terms (12 months) Instant Access for Gitman/Joehnk/Billingsley's Personal Financial Planning  (ISBN-10: 128551372X | ISBN-13: 9781285513720)

MindTap™ Finance for Gitman/Joehnk/Billingsley's Personal Financial Planning, 13th Edition is the digital learning solution that helps instructors engage and transform today's students into critical thinkers. Through paths of dynamic assignments and applications that you can personalize, real-time course analytics, and an accessible reader, MindTap helps you turn cookie cutter into cutting edge, apathy into engagement, and memorizers into higher-level thinkers.

List Price = $145.00  | CengageBrain Price = $145.00  | College Bookstore Wholesale Price = $145.00

MindTap® Finance, 2 terms (12 months) Printed Access Card for Gitman/Joehnk/Billingsley’s Personal Financial Planning  (ISBN-10: 1285515641 | ISBN-13: 9781285515649)

MindTap™ Finance for Gitman/Joehnk/Billingsley’s Personal Financial Planning, 13th Edition is the digital learning solution that helps instructors engage and transform today’s students into critical thinkers. Through paths of dynamic assignments and applications that you can personalize, real-time course analytics, and an accessible reader, MindTap helps you turn cookie cutter into cutting edge, apathy into engagement, and memorizers into higher-level thinkers.

List Price = $145.00  | College Bookstore Wholesale Price = $108.75

Student Supplements

CengageNOW on Blackboard, 1 term (6 months) Instant Access  (ISBN-10: 1285853822 | ISBN-13: 9781285853826)

Have the tools you need to be successful A variety of tools are available in CengageNOW™, all combined in one easy-to-use resource designed to improve your grades. Some resources get you prepared for class and help you succeed on homework, and others show you specific areas where you can work to improve. Stay ahead of the course requirements CengageNOW shows you the path through your course—from first day through finals. Once you know what’s expected, it’s easier to complete your assignments. Gain understanding that stays with you Do well on tests as well as the assignments! Bridge the gap between homework and tests by using CengageNOW to truly understand the material. Self-study and review materials keep you on the right track, to make sure your understanding goes beyond memorization. Set yourself up for better grades Why wonder where you stand? CengageNOW includes trackable assignments and grades. It tells you what to do to improve your grade, and gives you the tools to accomplish it! Student Testimonials: “I love the check your work option. Really, when you’re having a hard time figuring out an answer, sometimes working backwards is the best way to understand conceptually what you’re doing wrong.” - Brad Duncan University of Utah “I liked the videos because they were short enough to teach me and because they were short, I was able to find time to watch them again and again if I did not understand the first time.” - Jennifer Wright Northeast Wisconsin Technical College CTA: Ask your instructor about CengageNOW for this course.

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LMS Integrated for CourseMate™, 1 term (6 months) Instant Access  (ISBN-10: 1285755715 | ISBN-13: 9781285755717)

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CourseMate Instant Access  (ISBN-10: 1285419391 | ISBN-13: 9781285419398)

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

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

CengageNOW Instant Access  (ISBN-10: 1285419367 | ISBN-13: 9781285419367)

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

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

Aplia™, 1 term Instant Acces  (ISBN-10: 1285181719 | ISBN-13: 9781285181714)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for PERSONAL FINANCIAL PLANNING, 13th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

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

MindTap® Finance, 2 terms (12 months) Instant Access for Gitman/Joehnk/Billingsley's Personal Financial Planning  (ISBN-10: 128551372X | ISBN-13: 9781285513720)

MindTap™ Finance for Gitman/Joehnk/Billingsley's Personal Financial Planning, 13th Edition provides you with the tools you need to better manage your limited time -- you can complete assignments whenever and wherever you are ready to learn with course material specially customized for you by your instructor and streamlined in one proven, easy-to-use interface. With an array of tools and apps -- from note taking to flashcards -- you'll get a true understanding of course concepts, helping you to achieve better grades and setting the groundwork for your future courses.

List Price = $145.00  | CengageBrain Price = $145.00  | College Bookstore Wholesale Price = $145.00

MindTap® Finance, 2 terms (12 months) Printed Access Card for Gitman/Joehnk/Billingsley’s Personal Financial Planning  (ISBN-10: 1285515641 | ISBN-13: 9781285515649)

MindTap™ Finance for Gitman/Joehnk/Billingsley’s Personal Financial Planning, 13th Edition provides you with the tools you need to better manage your limited time -- you can complete assignments whenever and wherever you are ready to learn with course material specially customized for you by your instructor and streamlined in one proven, easy-to-use interface. With an array of tools and apps -- from note taking to flashcards -- you’ll get a true understanding of course concepts, helping you to achieve better grades and setting the groundwork for your future courses.

List Price = $145.00  | College Bookstore Wholesale Price = $108.75

LMS Integrated for MindTap® Finance, 2 terms (12 months) Instant Access  (ISBN-10: 128558774X | ISBN-13: 9781285587745)

This access code will provide you with seamless access to your MindTap™ Finance resources from within your campus Learning Management System. You will be prompted to enter this access code the first time that you click on a link in your course that includes Cengage content.

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LMS Integrated for CengageNOW™, 1 term Instant Access  (ISBN-10: 1305586824 | ISBN-13: 9781305586826)

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LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1285755693 | ISBN-13: 9781285755694)

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Flash Cards, 1 term (6 months) Instant Access  (ISBN-10: 1285796950 | ISBN-13: 9781285796956)

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Quizzing, 1 term (6 months) Instant Access  (ISBN-10: 1285793153 | ISBN-13: 9781285793153)

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Interactive practice quizzes and flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Flashcards contain terms and definitions for each chapter. Practice quizzes consist of true/false and multiple choice questions for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. 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, practice quizzes and flashcards are already included.

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

Meet the Author

Author Bio

Lawrence J. Gitman

Lawrence J. Gitman is an emeritus professor of finance at San Diego State University. He received his BA from Purdue University, MBA from the University of Dayton, and PhD from the University of Cincinnati. A prolific author, Dr. Gitman has published more than 50 articles appearing in FINANCIAL MANAGEMENT, the FINANCIAL REVIEW, JOURNAL OF FINANCIAL PLANNING, JOURNAL OF RISK AND INSURANCE, FINANCIAL SERVICES REVIEW, JOURNAL OF FINANCIAL RESEARCH, FINANCIAL PRACTICE AND EDUCATION, JOURNAL OF FINANCIAL EDUCATION, and other scholarly publications. He has authored and coauthored numerous best-selling textbooks on various finance and business topics as well as investing. 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 of 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 BA and PhD degrees from the University of Arizona and his MBA from Arizona State University. A Chartered Financial Analyst (CFA), he served as a member of the Candidate Curriculum Committee and of the Council of Examiners of the Institute of Chartered Financial Analysts. He 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 also has served as editor and contributed to several other prominent books. His articles have appeared in FINANCIAL MANAGEMENT, JOURNAL OF FINANCE, JOURNAL OF BANK RESEARCH, JOURNAL OF PORTFOLIO MANAGEMENT, JOURNAL OF CONSUMER AFFAIRS, JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, AAII JOURNAL, JOURNAL OF FINANCIAL RESEARCH, BELL JOURNAL OF ECONOMICS, 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.