外文翻译对家庭现金流管理实践的深入研究.docx
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外文翻译对家庭现金流管理实践的深入研究.docx
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外文翻译对家庭现金流管理实践的深入研究
本科毕业论文(设计)
外文翻译
原文:
AnIn-DepthLookatFamilyCash-FlowManagementPractices
Timeorientation.Althoughrarelystatedexplicitly,timeorientationclearlyisaconsiderationfortheinformants.Alltheinformantsarefocusedonshort-termsafety.Theyofferedlittlethoughtoflong-termplanningintheircommentsotherthansomenonspecificgoals.Lorrieindicatedhertimeorientationwhenshetalkedabout“savingsbeingimportant,”butnotimportantenoughtocut“theircurrentlifestyle.”Shewenton,“Savingissomethingpeopleareinterestedin,butinreality,peoplewanttoenjoywhattheyhaverightnow.”Eachmanager’sfocuswasontheshortterm(“Doestheproposedexpensefit?
”).Long-termissueswerenottypicallyincludedinthemanager’sperspective,withAngieandBobbeingtheexceptions.
Easeandconvenience.Managersconstantlylookedforwaystomakecash-flowmanagementeasier.Sam,Lorrie,Sandy,andNoraallremarkedthatthepracticesrecommendedbytextbooksandpromotedinthepopularpressareneithereasynorconvenient.Easeisareasonforvisualcluesandautomaticbillpayments.Anothertoolisthedevelopmentofroutinestohelpminimizeplanningthat,inturn,minimizesthecommitmentofmentalresources.Informantsestablishedroutinessuchasusinginsurancecompanieswho“billedeverymonth,”paidthe“sameamounteverymonth”oncreditcardbillsandspent“thesameongrocerieseachweek.Someoftheinformantsindicatedthatconsistentpaycheckshelped.ThemostfrustratingchangewhenKarltookhisnewjob,accordingtoSandy,wasnotthedecreaseinpaybutthat,whenhewenttoanhourlyposition,histake-homepayvariedeachpayperiod,makingplanningmoredifficult.
Othereaseandconveniencefactorsincludedselectingabankbylocationand“readabilityofstatements”forGary.Creditcardsareconvenientbecausetheyare:
(1)atooltomatchdemandswithincome,
(2)“theeasiestwaytopayforthem[concerttickets],”and(3)useful“whenoutoftown.”Automatictransfersfromsavingstocheckingpreventoverdrafts.Samadmittedtokeepingsmallcheckingaccountsopen“becauseifIhavetoborrowmoney,Icanborrowfromtheseplacesinahurry.”Easeandconveniencealsoarosewhenquestioninghowandwheretheinformantsgatheredfinancialinformation.Informantssaid,“weheard,”“everyonesays,”or“Ireaditsomewhere.”Informationcamefromcoworkers,friends,“ourbankerandinsurancerepresentative,”“thefatherofafriend,”newspapers,andmagazines,suchasGlamour,Woman’sDay,McCall’s,andGoodHousekeeping.Severalinformantsgatheredinformationfrom“junkcreditcardmail.”Twooftheinformants,AngieandGary,usetheassistanceofafinancialplanner.Theuseoftheinformationisdependentonthetrustthefinancialmanagerhasinthesource.Informationfromatrustedindividualismorelikelytobeusedthaninformationfromanunknownsource.
Safety.Anotherconsiderationisthefinancialmanager’sneedtofeelasenseofsafetyinpersonalfinances.Safetymeans,“havingthefundsavailabletocovercurrentbills,”“providingprotectioniffundinggetstight,”and“avoidinganoverdraft.”Samdoesthisbyhavingalineofcredittiedtohischeckingaccount.Cindy,Lorrie,NoraandAngiealluse“falsebalances,”abalancethatremainswhenthecheckregistershowsazerobalance,donetoprotectagainstoverdrafts.Angiecreatesherfalsebalancewith“mindgames,”assherecords$240forher$238insurancepaymentorpaysthehealthinsurancebillonemonthahead.Anotherpartofsafetyistheinformants’knowledgeofthe“float”period,orthetimefromwhenacheckiswrittenuntilitwillactuallybedeductedfromone’saccount.
Financialattitudes.Severalattitudesorfeelingsemergefromthedata,itemsimportantinthefamily’scash-flowmanagementpatterns.Thefirstisageneralideathatthefamilyis“doingokay,”asexpressedbyCindy,Lorrie,andSam.Norasaidshefeels“lucky.”Sandycommented,“Lifeisgood.”Lorriestated,“Everymonthwedookayand...nobodyisknockingonmydoor.”Sandysaidthey“aredoingbetterfinancially”thanwhentheywerefirstmarried.OnlyNorafeelslike“wearelosingground.”FeelingsalsoareatworkinSandy’s,Sam’s,andNora’scommentsthat“wealwaysmanage,”inreferencetounexpectedexpenses.
Believingtheyarenormalisanimportantneedamongtheinformants.Theywanttofeelandseemlikeeveryoneelse.Inconversationsbeforeandafterthetaperecorderwasrunning,theinformantsaskedaboutthepurposeofthestudy.InitiallySandy,Nora,andCindywerehesitantaboutparticipatinginthestudy,saying,“Idon’tdothingscorrectly,whywouldyouwantme?
”Asdiscussionscontinuedtheycommented,“Iamnormal”whencomparingtheircash-flowprocessestothoseofothers.Alltheinformantsatsometimecommentedabout“beingnormal”orliketheirpeersinhowtheyhandletheirfinances.Lorrieindicatedshewaslikeeveryoneelseand“livedfrompaychecktopaycheck”spendingmostofwhattheymade,“asdomostpeople.”
Conclusions
Fourmajorconclusionscanbedrawnconcerningthemanagementpracticesofthesevenfamiliesinthisstudy.First,thefinancialmanagersinthisstudyseemgenerallypleasedwiththeiroverallfinancialsituationsandtheircorrespondingapproachtofinancialmanagement.
Second,theyfocusontheshortterm,animportantconsiderationforeducatorsandplanners.Theconcernsandissuesofthefinancialmanagerrevolvedaroundcurrentcashflowversusthebroaderfinancialresourcemanagementtasksofbudgeting,insurance,assetgrowthandnetworth.Lead-inquestionswereaskedaboutlong-termissues,butthefinancialmanager’sresponsefocusedonshort-termsafety.Thefinancialmanager’sgoalisneitherlineitemcontrolnoranincreaseinnetworth,buthavingenoughmoneytomeetcurrentbills.
Theshort-termfocusbringswithitalackoftimeandinterestforlong-termplanning.Thelackoffocusonthelongtermwasvisiblenotsomuchbywhatinformantssaid,butbywhatwasnotsaidintheinterviews.Financialmanagersseldomdiscussedlong-termcash-flowmanagementissues.Thelongtermwasonlydiscussedwhentheinformantwasaskedadirectquestionorinpassing,asaninformantmightrefertothefutureandaneedtoprepare.Typically,theneedtopreparerevolvedaroundretirementandeducationofthechildren.Rarelydidtheinformantsdescribeactionstakentowardpreparingforalong-termneed.
Third,onthesurfaceatleast,itappearsthatwhatfinancialmanagementpractitionersrecommendandwhatthesesevenfinancialmanagersactuallydoaregreatlydifferent.Attimes,however,thisapparentdifferenceisnotasgreatasitseems.Sam’sscribblingactuallyrepresentsaformofbudgeting,asdoSandy’sandCindy’smentalpicturesofthemonthlycashflow.Inspiteofthefactthattheiractionssometimesindicatedotherwise,thefinancialmanagerssaidthattheydidnotusetherecommendedpracticesbecauseoftheroutinenatureoftheircash-flowmanagementandthelackofbenefitinusingthesetools.Informantseitherdidnothavethetimeordidnotwanttospendthetimetoimplementthepractices.Allsevenmanagersevaluatedthecostsandthebenefitsofusinganypractice,eithertherecommendedorthosesuggestedbyfamilyandfriends.Itisimportanttorecognizewhatfinancialmanagersconsidertobethecostsandthebenefitstothemwhendevelopingasystemthatwillbeused.Currentlytherecommendedpracticesfocusonthelong-termpictureusingnetworthastheprimaryindicatorofwell-being.Thesesevenfinancialmanagers,however,allfocusedontheshortterm(onetotwopaychecksahead)withoneprimaryconcern:
keepingcurrentbillspaid.
Finally,thereisatensionregardingsavings(orthelackthereof)andtheuseofcredit.Theytypicallyhavelittle,ifany,emergencysavings,nothingthatapproachesfundsequaltothree-to-six-monthsoftake-homepay.Theyindicatedthatsavingwasadifficulttaskforseveralreasons.Itisnotapriority;thepriorityisthepaymentofbills.Savingsisoftenthemoneyleftoverattheendofthemonth,notmoneysetasidefirst.Amentalhurdleformanypeopleisonlyputtingasmallamountintosavingsatatime.Theyseelittleprogresswhendoingthat.Instead,theywanttoputinasignificantamount,evenifithappenslessoftenandtheyloseinterestduringtheinterim.Financialmanagersdothatwhentheyover-withholdonfederaltaxdeposits,apracticeusedbyallsevenoftheinformants.Thelargetaxrefundpermitssomeoptions.
Theuseofcredit,thenearmirror-imageofsavings,isanotherareainwhichfinancialmanagerstookcarefulaction.Allinformantsbelievethattheyarecontrollingthefamily’sdebtload.Buttheyindicatedthattherewardsofwaitingdonotsurpassthecostofbuyingsomethingoncredit.Forthatreason,theyusecredittoachieveadditionalgoods.Theyseethemselvesasunabletosaveandretainthefundsuntilagoalcanbeachieved.Debtpaymentsaresomethingtheyhavetomake,whereassavingsisoptional.Indeed,asseveralinformantsindicated,agoodmoneymanagementpracticeistopurchasesomethingnewassoonasadebtispaidoff.Thus,theyavoidabsorbingthemoneyintogeneralspendingwithoutbeingabletobuysomeadditionalasset,evenanassetthatdepreciates.
Creditcardsareoftenusedinpreferencetoothercreditalternativeswithlowerratesbecausetheyaresimple,easy,convenient,andmoneycanbeobtainedquickly.Financialmanagersareawareofothercreditalternativesandusethemwhenthereturnseemstobeworththeadditionalinconvenience.Theinformantsdid,attimes,payoffcreditcarddebtwithsecondmortgages.Althoughthispract
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- 外文 翻译 家庭 现金流 管理 实践 深入 研究