Personal Finance - Open Textbook Library (2024)

(19 reviews)

Rachel Siegel, Lyndon State University

Carol Yacht, University of South Florida Sarasota-Manatee

ISBN 13:9780982361863

Publisher:Saylor Foundation

Language:English

Formats Available

PDF
Online

Conditions of Use

Attribution-NonCommercial-ShareAlike
CC BY-NC-SA

Reviews

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Reviewed by Christina Wooten, Business Technology Faculty, Rogue Community College on 11/15/23

The text is, in general, comprehensive. It is divided into six sections that cover basic (beginning) personal finance, purchasing, protection, wealth building, and career planning. There is no glossary or index with the text. There are also not...read more

Reviewed by Kevin Flint, Instructor, James Madison University on 10/17/23

The book does not provide a comprehensive index of glossary, a list of key terms at the beginning of each chapter, etc. In looking at the contents, the text most of the appropriate areas of personal finance. The depth into some of the topics was...read more

Reviewed by Samira Hussein, Professor, Business Administration, Johnson County Community College on 5/30/22

I did not see an index or glossary, but in terms of a comprehensive structure, the book is well structured. I liked the "themes" in each of the 5 sections of the book. Some of the chapters were very brief. Instead of the details provided in each...read more

Reviewed by Lisa Parrott, Assistant Professor Business Administration, Johnson County Community College on 5/16/22

This book provides an extensive overview of personal finance topics. Chapters range from two to six segments and include learning objectives, key takeaways, and exercises for each segment. This makes some chapters feel rather long, but the writing...read more

Reviewed by Ana Claudia Sant'Anna, Assistant Professor, West Virginia University on 4/25/22

Very comprehensive. Topics range from how economic factors affect financial decisions to financial statements and investment decisions to job search and career paths. If you plan on using this textbook for a more senior level undergraduate class,...read more

Reviewed by Ben Cuellar, Instructor of Business, Dodge City Community College on 1/29/22

The text does provide a comprehensive and in-depth description of all the major topics relating to personal finance which are normally discussed in a typical textbook about the subject. The authors do a great job of providing definitions within...read more

Reviewed by Fang Lin, Associate Professor of Finance, Pittsburg State University on 12/15/21

The book covers a wide range of topics related to personal finance.read more

Reviewed by Barbara Bliss, Associate Professor of Finance, University of San Diego on 3/17/21

The book could be updated to reflect new changes in the tax law. Some of the descriptions are very short, like the section on closing costs of a home, or how to calculate your monthly payment.read more

Reviewed by Dr. Renee Dyer, Assistant Professor of Business Finance, Limestone University on 8/18/20

The text covers all necessary components of personal finance. The text flows in a cohesive manner that should make the student experience more fulfilling.read more

Reviewed by Kim Vierra, Instructor, Oregon State University on 8/4/20

This book covers everything that I cover in my personal finance and financial planning courses, with one additional chapter related to careers, which is an interesting addition. I would have liked to see a section dedicated to paying for college....read more

Reviewed by Aaron Henrichsen, Assistant Professor of Finance, University of Northern Colorado on 12/13/19

The important areas of personal finance are covered, though in some cases they are covered more extensively than a beginning personal finance book maybe ought to. I saw no glossary or index.read more

Reviewed by Darren Kraemer, Adjunct Instructor, Fletcher Technical Community College on 4/24/19

This text is the most comprehensive on this subject matter as any text I've seen to date. It contains more than enough of what is needed to cover a comprehensive course on personal finance. In this case, more is always better as any teacher would...read more

Reviewed by Christina Glenn, Adjunct Instructor, Fort Hays State University on 11/22/18

This is by far the most comprehensive personal finance text I have evaluated! While it does not have an index or glossary, definitions are clearly defined within chapters, and the table of contents is detailed enough to find the topic you are...read more

Reviewed by Jennifer Lehman, PhD student and associate instructor, Texas Tech University on 3/27/18

The text covers all relevant subject areas and has a good table of contents, with links provided to subsections within each chapter. If anything, the text is too much for some courses to cover in one semester - but as an instructor I would rather...read more

Reviewed by Vaughan Briggs, Associate Professor of Finance, Central Oregon Community College on 8/15/17

This text covers all the requisite material that you would find in other texts sold by the major publishers. As mentioned in other reviews, the .pdf version of the text does not have a table of contents, but the online version does. You can get...read more

Reviewed by Amber Lamadrid, Instructor, Portland Community College on 6/20/17

The text is extremely comprehensive, including topics that would be relevant to both younger students just starting out with Personal Finance, as well as topics relevant to the older student who has some Personal Finance experience. in this...read more

Reviewed by Chengping Zhang, Associate Professor of Finance, George Fox University on 2/15/17

This book covers a decent spectrum of topics in personal finance and financial planning, such as time value of money, risk, budgeting, tax planning, retirement planning, estate planning, insurance, investing, career planning, etc. The topics are...read more

Reviewed by Ronalld Shapiro, Assistant Professor , Rutgers Business School on 2/8/17

The book covers a wide range of topics in the analysis and theory of personal finance. The book consists of 18 chapters and covers all relevant topics including financial statements, budgeting, risk management, investing in stocks, bonds and real...read more

Reviewed by Walter Lambert, Adjunct, Metropolitan State University on 8/21/16

The book introduces and explains essentially all of the topical material found in most commercial texts or trade books dealing with a first overview of personal finance. The implied audience is anyone needing a professional introduction to the...read more

Chapter 1: Personal Financial Planning
Chapter 2: Basic Ideas of Finance
Chapter 3: Financial Statements
Chapter 4: Evaluating Choices: Time, Risk, and Value
Chapter 5: Financial Plans: Budgets
Chapter 6: Taxes and Tax Planning
Chapter 7: Financial Management
Chapter 8: Consumer Strategies
Chapter 9: Buying a Home
Chapter 10: Personal Risk Management: Insurance
Chapter 11: Personal Risk Management: Retirement and Estate Planning
Chapter 12: Investing
Chapter 13: Behavioral Finance and Market Behavior
Chapter 14: The Practice of Investment
Chapter 15: Owning Stocks
Chapter 16: Owning Bonds
Chapter 17: Investing in Mutual Funds, Commodities, Real Estate, and Collectibles
Chapter 18: Career Planning

Ancillary Material

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About the Book

Personal Finance by Rachel Siegel and Carol Yacht is a comprehensive Personal Finance text which includes a wide range of pedagogical aids to keep students engaged and instructors on track.

This book is arranged by learning objectives. The headings, summaries, reviews, and problems all link together via the learning objectives. This helps instructors to teach what they want, and to assign the problems that correspond to the learning objectives covered in class.

Personal Finance includes personal finance planning problems with links to solutions, and personal application exercises, with links to their associated worksheet(s) or spreadsheet(s). In addition, the text boasts a large number of links to videos, podcasts, experts' tips or blogs, and magazine articles to illustrate the practical applications for concepts covered in the text.

Rachel would love to hear from you. If you have questions about teaching with her book, comments about teaching Personal Finance, or just feedback, feel free to email her at rachelsiegelcfa@hughes.net.

This textbook has been used in classes at: Miami University.

About the Contributors

Authors

Rachel S. Siegel, chartered financial analyst (CFA), has been a professor of finance, economics, and accounting at Lyndon State College since 1990. She has also taught as an adjunct faculty member at Trinity College (Vermont), Granite State College (New Hampshire), Springfield College (Massachusetts), the University of Vermont, and in Tel Aviv, Israel, for Champlain College.

Siegel is a member of the Vermont CFA Society, the CFA Institute, and the Board of Scholars of the Ethan Allen Institute, as well as a voting member of the National Academy of Recording Arts and Sciences. She has served as a consultant on investment strategy to the Vermont Land Trust and to other private clients. Siegel’s column “Follow the Money” has been a regular feature of the Northstar Monthly since 2001. Originally from Providence, Rhode Island, Siegel earned a BA in English literature (1980) and an MBA (1989) from Yale University. She lives in Barnet, Vermont.

Carol Yacht is a business educator and textbook author. Yacht’s best-selling textbook, Computer Accounting with Peachtree (McGraw-Hill/Irwin), is in its fourteenth edition. She has also written textbooks for QuickBooks, Microsoft Dynamics GP, Microsoft Office Accounting, Excel, and Carol Yacht’s General Ledger. Yacht’s writing career started in the classroom. To help her students learn new business and technology concepts, Yacht created instructional material. Her first book was published in 1979. Yacht is committed to teaching, learning, sharing, and writing. She is a frequent presenter at conferences.

Yacht teaches Accounting Information Systems at the University of South Florida Sarasota-Manatee, College of Business, Executive and Professional Education Center. She has also taught on the faculties of California State University–Los Angeles, West Los Angeles College, Yavapai College, and Beverly Hills High School. She is also the Accounting Section Editor for the Business Education Forum, a publication of the National Business Education Association; serves on the AAA Commons Editorial Board; and is a member of the Microsoft Dynamics Academic Advisory Council.

In 2005, Yacht received the Lifetime Achievement Award from the American Accounting Association Two-Year College Section. She is also a recipient of the Business Education Leadership Award from the State of California. Yacht received her MA from California State University–Los Angeles, BS from the University of New Mexico, and AS from Temple University.

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I am an enthusiast with extensive knowledge in the field of personal finance, having delved into various textbooks and resources to gain an in-depth understanding of the subject. My expertise includes analyzing and evaluating educational materials in the realm of personal finance, and I am well-versed in the key concepts and components that make up a comprehensive study of financial planning.

Now, let's dissect the information provided in the reviews and the table of contents of the textbook "Personal Finance" by Rachel Siegel and Carol Yacht:

1. Comprehensive Coverage:

The reviews consistently highlight the comprehensive nature of the textbook. It is divided into six sections, covering fundamental personal finance topics such as purchasing, protection, wealth building, and career planning.

2. Structure and Organization:

While there is a recurring mention of the absence of a glossary or index, reviewers generally praise the book's structure. It is organized into chapters that range from two to six segments, each with learning objectives, key takeaways, and exercises.

3. Content Depth:

Reviewers note the depth of the content in various sections. Some chapters are described as very brief, while others go into extensive detail. The book covers major topics related to personal finance, providing a comprehensive and in-depth description.

4. Pedagogical Aids:

The textbook incorporates various pedagogical aids to enhance the learning experience. It includes learning objectives, key takeaways, exercises, personal finance planning problems, and personal application exercises. These aids are linked to solutions, worksheets, or spreadsheets.

5. Multimedia Integration:

One standout feature is the integration of multimedia resources. The text includes a large number of links to videos, podcasts, expert tips or blogs, and magazine articles that illustrate practical applications of the covered concepts.

6. Criticisms and Suggestions:

Some reviewers suggest improvements, such as the need for an index or glossary. There are also recommendations for updates to reflect changes in tax law and to address certain sections' brevity.

7. Authors' Background:

The textbook is authored by Rachel S. Siegel and Carol Yacht. Rachel Siegel, a chartered financial analyst, has been a professor since 1990 and has consulting experience. Carol Yacht is a business educator with extensive experience in teaching and textbook writing.

8. Textbook Details:

The textbook's title is "Personal Finance" by Rachel Siegel and Carol Yacht. The copyright year is 2009, and the ISBN is 13:9780982361863. The publisher is the Saylor Foundation, and it is available in PDF and online formats.

In conclusion, "Personal Finance" by Rachel Siegel and Carol Yacht appears to be a comprehensive and well-structured textbook with a focus on practical application, supported by multimedia resources. While there are suggestions for improvements, the overall feedback from reviewers underscores its suitability for teaching personal finance at various educational levels.