Personal Finance: An Encyclopedia of Modern Money Management

This jargon-free resource explains the who, what, why, and where of contemporary personal finance in simple, easy-to-grasp language, covering the key people, events, terms, tools, policies, and products that make up modern money management. The ideal roadmap to 21st-century financial literacy, this layman's encyclopedia discusses ideas, concepts, events, and people that inform money management and personal finance. It explains the intricacies of things like investing, saving, debt, credit, and mortgages, and it drills down into complexities like the difference between 401(k) and 403(b) retirement plans. Entries invite the reader to explore common financial topics, such as seeking credit counseling, using credit cards, buying a home, and choosing insurance. Issues such as identity theft, derivatives, and taxes are explored as well. The unique work is topically organized with contributions from both academics and financial professionals. Entries are augmented by entertaining sidebar anecdotes and a glossary, and there is a useful feature that connects readers to online sources, enabling them to keep up with this fast-changing field. A one-stop resource ideal for individuals seeking to understand personal finance, this book will also prove valuable to students taking courses in finance and economics. All readers will come away better equipped to profit from money management and more skilled at making smart financial decisions.

Table of Contents:
Guide to Related Topics Preface Introduction Ideas and Concepts Accountant Affordable Care Act Alimony Annuity Asset Allocation Banking Bankruptcy Behavioral Finance Bonds Budget Capital Gains and Capital Losses Capitalism Cash Certificate of Deposit Checking Account Commodities Compound Interest/Return Condominium Consumer Credit/Debt Credit Card Credit (or Bond) Rating Agency Credit Report and Reporting Agencies Credit Score Credit Union Currency Debt Debt Collection Debt/Credit Counseling Deficit Deflation Delinquency Derivatives Digital Currency Disability Insurance Discount Rate Dividend Income Estate Planning Federal Reserve Bank Financial Advisor Flexible Saving Account Gross Domestic Product (GDP) and Gross National Product (GNP) Health Insurance Hedge Funds Homeowner's and Renter's Insurance Human Capital Identity Theft Index Mutual Funds Inflation Inflation-Protected Investments Interest Income and Payments Interest Rates Investing Liabilities Life Insurance Liquidity Loans Margin Medicaid Medicare Money Market Account Mortgage Mutual Funds and Exchange-Traded Funds (ETFs) Net Worth Online Personal Finance Opportunity Cost Pension Plans Portfolio Management Power of Attorney Probate Real Estate Real Estate Investment Trust (REIT) Rent to Own Retirement Retirement Accounts Risk Risk Premium Savings Account Social Lending or Peer-to-Peer Lending Social Security Stock Market Stocks Systematic Market Risk Tax Deferral Tax Return, Federal Time Value of Money Treasury Securities Umbrella Insurance Unemployment U.S. Federal Tax System Overview Wills and Trusts Events Year 1930s: The Great Depression Year 1944: Creation of the International Monetary Fund and the World Bank at the Bretton Woods International Conference Year 1970s to 1980s: Economic Problems and the United States Year 1987: Stock Market Crash Year 1989–1991: U.S. Savings and Loan Crisis Year 1994: North American Free Trade Agreement between Mexico, Canada, and the United States (NAFTA) Year 1997–1998: Asian Financial Crisis Year 1999: Introduction of the Euro to World Financial Markets Year 2000: Bursting of the Dot-Com Technology Bubble Year 2001: Enron, the Failure of Corporate Finance and Governance Year 2002: Sarbanes-Oxley Act Year 2003–2011: Iraq War's Impact on the U.S. Economy Year 2005: Growth of China and India as World Economic Powers Year 2007–2008: Subprime Housing Crisis and Mortgage Meltdown Year 2007–2009: Global Recession and Breakdown of Major Wall Street Institutions Year 2010: Dodd-Frank Wall Street Reform and Consumer Protection Act Year 2011–2012: European Debt Crisis People Bernanke, Ben S., 14th Chair of the U.S. Federal Reserve Board Bloomberg, Michael R., American Politician and Businessperson Bogle, John, Founder of The Vanguard Group Buffett, Warren, Owner of Berkshire Hathaway Inc. Bush, George W., 43rd President of the United States Clinton, William, 42nd President of the United States Geithner, Timothy F., 75th Secretary of the U.S. Treasury Greenspan, Alan, 13th Chair of the U.S. Federal Reserve Board Lagarde, Christine, Managing Director, International Monetary Fund Markowitz, Harry M., Father of Modern Investment Portfolio Theory Obama, Barack, President of the United States Paulson Jr., Henry M., 74th U.S. Secretary of the Treasury Rubin, Robert E., 70th U.S. Secretary of the Treasury Schapiro, Mary, 29th Chair of the U.S. Securities and Exchange Commission Shiller, Robert J., 2013 Nobel Laureate in Economics Siebert, Muriel, First Woman to Own a Seat on the New York Stock Exchange Volcker, Paul A., 12th Chair of the U.S. Federal Reserve Board Warren, Elizabeth, Former Special Advisor for the Consumer Financial Protection Bureau Yellen, Janet, 15th Chair of the U.S. Federal Reserve Board Glossary Bibliography About the Editor and Contributors Index