Essentials Of Personal Finance – fp120 (3 credits)

This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property.

This undergraduate-level course is 5 weeks. This course is available as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Uncluttering Your Financial Life: Finding Your Path to Financial Freedom

  • Identify ways to improve your current financial status.
  • Determine effective strategies for managing your cash.

Big Ticket Items: Dreams Can Come True

  • Evaluate the option of buying a car and leasing a car.
  • Evaluate the option of buying a home and renting a home.
  • Determine best strategies for buying a home and taking title.
  • Identify best strategies for mortgage financing.

Investing: Laying the Ground Rules

  • Evaluate factors that influence your investment decisions.
  • Analyze risks and rewards of investing in stocks and bonds.
  • Analyze risks and rewards of investing in different types of mutual funds.
  • Describe ways to diversify investments.

Protecting Yourself and Your Family: What You Need to Know

  • Create the four documents you must have to protect yourself and your family.
  • Evaluate considerations for preparing the four documents you must have to protect yourself and your family.

Insurance: Protecting Your Interests

  • Identify best practices for selecting home and car insurance.
  • Evaluate health and life insurance options.
  • Recognize the value of other forms of insurance such as renter’s insurance, disability insurance and long term care insurance.

Retirement Planning: Rules of the Road

  • Identify reasons for and importance of saving for your future.
  • Determine best retirement investment strategies.
  • Identify common retirement planning mistakes and ways to avoid them.

Family Finances: Kids and Money

  • Describe best strategies for giving gifts and loans.
  • Identify best strategies for saving for education.
  • Determine best strategies for managing family finances.

Intoduction: Let's Get Real and Personal

  • Recognize the power of financial planning and budgeting.
  • Identify key short-term and long-term financial planning goals.
  • Evaluate your current financial status.

Consumer Debt: Becoming Debt-Free

  • Differentiate between secured and unsecured debt and strategies to address each.
  • Apply best practices for reducing credit card debt.
  • Determine best strategies to manage student loan debt.
  • Identify the importance of credit reports and strategies to build a strong credit score.

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