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Family Finance. E-mail: [email protected] www: HTTP://MICHALSKIG.UE.WROC.PL/ Mobile: 48.503452860 5 meetings + 1 exam (test) Next meeting: 11 th March. Douglas A., E. Lewin, Family Finance, Dearborn Trade 2001.

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family finance1
E-mail: [email protected]

www: HTTP://MICHALSKIG.UE.WROC.PL/

Mobile: 48.503452860

5 meetings + 1 exam (test)

Next meeting: 11th March.

Douglas A., E. Lewin, Family Finance, Dearborn Trade 2001.

Millar R., A Complete Guide to Family Finance, Kogan Page Publishers 2004.

Israelsen C. L. , R. O. Weagley, Personal & Family Finance Workbook, Kendall Hunt Pub 2006.

Family Finance
the aim of family financial management
The aim of family financial management?
  • Maximization of family wealth:
  • First: how we calculate realization of the general aim in nonfamily financial management?
10 steps to value
10 steps to Value
  • CR
  • Operating Cycle
  • Assets
  • AP
  • Capital invested

Capital structure

FCF forecasting

IRR

Cost of Capital (CC)

∆ V

family finance cases
Family Finance cases:
  • Create himself or buy? (home products, home food or in restaurants, who should repair a tap, husband or plumber (tap expert), hire a maid? etc.
  • Child in home or in kindergarden?
  • (Homeschooling) Child in home or in school?
  • Car: buy older but without the credit or a new but with credit?
  • How many cars in a family?
  • House or a flat? Why?
  • A garden or a free time with fruits from a hipermarket?
  • What kind of car? Which one?
create himself or buy
Create himself or buy?
  • Two + four family (2p + 4 ch).
  • One warm dish for one person costs 5 euros in town. It take 1 hour to wait in queue and finaly after eating coming home. Eating takes 0.5 hour. For parents use work equivalent.
  • Preparation of 6 dishes takes 2 hour daily and A euro / person for raw materials and energy for preparation of meal for whole family.
  • 1hour of work of homekeeper: 3.5 euros per 1 hour. Its the work equivalent.
  • For home food preparation we need additional equipment: cooker, dishwasher, greater fridge. It costs 400 euros initial investment and its economical lifetime is: 7 years. NWC = n * 5% of CE in case of home food.
  • Cost od debt = kd = 18%; cost of equity = ke = 4.6% * (1-Tb) (remember about BELKA TAX! Tb = Belka Tax Rate)
create himself or buy1
Create himself or buy?
  • Two adults family (2a).
  • One warm dish for one person costs 5 euros in town. It take 1 hour to wait in queue and finaly after eating coming home. Eating takes 0.5 hour. For parents use work equivalent.
  • Preparation of 6 dishes takes 2 hour daily and A euro / person for raw materials and energy for preparation of meal for whole family.
  • 1hour of work of homekeeper: 3.5 euros per 1 hour. Its the work equivalent.
  • For home food preparation we need additional equipment: cooker, dishwasher, greater fridge. It costs 400 euros initial investment and its economical lifetime is: 7 years. NWC = n * 5% of CE in case of home food.
  • Cost od debt = kd = 18%; cost of equity = ke = 4.6% * (1-Tb) (remember about BELKA TAX! Tb = Belka Tax Rate)
create himself or buy2
Create himself or buy?
  • Two + one + seven family (2p + 1g + 7 ch).
  • One warm dish for one person costs 5 euros in town. It take 1 hour to wait in queue and finaly after eating coming home. Eating takes 0.5 hour. For parents use work equivalent.
  • Preparation of 6 dishes takes 2 hour daily and A euro / person for raw materials and energy for preparation of meal for whole family.
  • 1hour of work of homekeeper: 3.5 euros per 1 hour. Its the work equivalent.
  • For home food preparation we need additional equipment: cooker, dishwasher, greater fridge. It costs 400 euros initial investment and its economical lifetime is: 7 years. NWC = n * 5% of CE in case of home food.
  • Cost od debt = kd = 18%; cost of equity = ke = 4.6% * (1-Tb) (remember about BELKA TAX! Tb = Belka Tax Rate)
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