Personal Financial Planning
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|Course Number:||BUSADMIN 3400|
|Course Name:||Personal Financial Planning (Online)|
|Course Description:||A study of the major financial decisions encountered by individuals. The course explores a variety of consumer problems found in a modern, complex economy. Subjects covered include the financial planning process, money management, consumer borrowing, insurance planning, budgeting, investments, and retirement and estate planning.|
After successful completion of this course you should be able to:
- Develop a personal financial plan and identify the factors that influence personal financial planning decisions.
- Develop a system of financial records and use them to determine your financial position and control expenditures.
- Identify the sources, terms and costs of consumer credit. Describe the elements of a credit score and how credit scores can be improved.
- Develop realistic investment goals that are consistent with your financial plan and risk tolerance.
- Distinguish between the different types of investment vehicles available (stocks, bonds, mutual funds), describe their major characteristics, and identify potential information sources for evaluating potential investments.
- Prepare a basic retirement plan and estate plan.
- Identify the biggest financial mistakes households can make and how they can be avoided.
Unit 1: Financial Planning
Personal Financial Planning involves creating and implementing a plan based on your goals given your unique circumstances. One size does not fit everyone and the goal is to accumulate wealth so that we can do the things that are important to us. To accomplish this task, we will need to learn basic time value of money concepts. This unit serves as a basis for subsequent units.
Unit 2: Managing Your Money
Every time we purchase a discretionary item we make a decision to forego saving or investing that money to achieve our future goals. We do not tend to think of it in those terms, but in reality that is the tradeoff. The focus of this unit is to make smart purchasing decisions and smart credit decisions.
Unit 3: Protecting Yourself with Insurance
Protecting your assets with insurance is a key component in personal financial planning. There are many categories of insurance: health care, disability, long-term care, life, automobile and homeowner's. The focus of this unit is to make smart insurance decisions: which policies are important for our situation and the type of coverage we need.
Unit 4: Managing Your Investments
For most students, investing is the most interesting part of personal financial planning. The focus of this unit is to learn about how markets function and the different investment choices: stocks, bonds and mutual funds.
Unit 5: Life Cycle Issues
The final unit will discuss retirement and estate planning.
Number of Exams: 13 quizzes for this course.
Number of Assignments: 3 individual assignments and 13 discussion sessions for this course.
Number of Projects: 1 group project for this course.
Your final grade is based on the total points earned, as follows:
13 lesson quizzes @ 10 points each = 130 points
13 discussion answers @ 5 points each = 65 points
3 individual assignments @ 10 points each = 30 points
1 group project @ 20 points = 20 points
A = 90-100% of total points
B = 80-89% of total points
C =70-79% of total points
D = 60-69% of total points
F = Below 60% of total points OR less than 60% average on unit quizzes
The quizzes will be open for several days. Please let me know in advance if you will be unable to take the quiz during its scheduled time frame. I am willing to accommodate your schedule as long as it is not a reoccurring request. I do not give partial credit for late posts. Points will be deducted for short or poorly written discussion answers. No points will be given for posts that are a summarization of another student's work. "Group" means all group members contribute to the project. Peer evaluations will be incorporated into your group case grade.
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