During the Christmas break of his final year at the University of Florida (U of F), Aaron Barnes plans to put together his résumé in order to seek full-time employment as a software engineer during the spring semester. To help Aaron prepare for the job interview process, his older brother has arranged for him to meet with a friend, Carolyn Jenkins, who has worked as a software engineer since her graduation from U of F two years earlier. Carolyn gives him numerous pointers on résumé preparation, the interview process, and possible job opportunities. 

After answering Aaron’s many questions, Carolyn asks Aaron to update her on what he’s up to at U of F. As they discuss courses, Carolyn shares that of all the electives she took, the personal financial planning course was most useful. Aaron says that, although he had considered personal financial planning for his last elective, he’s currently leaning toward a beginning golf course. He feels that the course will be fun because some of his friends are taking it. He points out that he doesn’t expect to get rich and already knows how to balance his checkbook. Carolyn tells him that personal financial planning involves much more than balancing a checkbook, and that the course is highly relevant regardless of income level. She strongly believes that the personal financial planning course will benefit Aaron more than beginning golf—a course that she also took while at U of F. 

1. Describe to Aaron the goals and rewards of the personal financial planning process.

2. Explain to Aaron what is meant by the term financial planning and why it is important regardless of income.

3. Describe the financial planning environment to Aaron. Explain the role of the consumer and the impact of economic conditions on financial planning.

4. What arguments would you present to convince Aaron that the personal financial planning course would benefit him more than beginning golf?