This course is an introduction to personal financial planning and money management.
This course is an introduction to personal financial planning and money management. Our emphasis will be on practical, personal financial management concepts and skills. We will examine the many choices we make as we strive to effectively manage both the day-to-day and long-term personal and financial goals.
Skills you’ll gain
Financial ManagementFinancial PlanningIndividual Financial GoalsMoney ManagementPersonal FinancePersonal Financial Specialist (PFS)What You'll Learn
- Apply the financial planning process to manage day-to-day and long-term personal and financial goals
- Set personal financial goals and weigh decisions in terms of opportunity costs
- Calculate the future value of money and understand how interest rates affect savings
- Manage money by keeping financial records and reading financial statements
- Use financial services institutions, financial accounts, ATMs, savings, and checking
- Evaluate the cost and types of credit, including credit cards and home equity loans
Key Takeaways
- The course emphasizes practical, personal financial management concepts and skills for everyday money management.
- Personal financial planning involves a defined process built around decisions, resources, influences, components, and goal setting.
- Understanding interest rates and the future value of money is central to long-term financial decisions.
- Money management includes keeping financial records, reviewing statements, and using financial services institutions and accounts.
- Credit decisions require weighing the cost of credit, credit considerations, and the different types of credit available.
Frequently Asked Questions
What is this course about?
It is an introduction to personal financial planning and money management, emphasizing practical, personal financial management concepts and skills for managing day-to-day and long-term personal and financial goals.
What topics does the course cover?
It covers the financial planning process, decisions and opportunity costs, setting goals, interest rates and the future value of money, money management, keeping financial records, financial services institutions and accounts, payment methods and ATMs, savings and checking, and credit including its cost, types, credit cards, and home equity loans.
What skills will I gain from this course?
The course builds skills in financial management, financial planning, setting individual financial goals, money management, and personal finance, and relates to the Personal Financial Specialist (PFS) area.
Who is this course for?
It is designed as an introduction, making it suitable for learners who want to effectively manage both their day-to-day and long-term personal and financial goals.
Transcript
Show transcript (free preview lesson)
Transcript of the free preview lesson. Remaining lessons unlock with the full course.
Here's an old Russian proverb. It is not money that brings happiness. It's lots of money Was this true? We all think it is, but we'll we'll revisit this down the line Definition what is personal financial planning? Well depending on who you speak to there are several There are various definitions One is the process of managing your money to achieve personal financial goals So those are the people who are goal oriented Another the ability to use knowledge and skills to effectively manage one's financial resources for our lifetime of financial security Those are the individuals who are more security-minded and then another Defines it as the process of managing the day-to-day money matters while working toward long-term financial goals So we need to to work today and deal with all the things that are going on day-to-day the Money matters that are going on every day that we have to deal with but keeping our eye on those long-term financial goals Let's take a look now at some of the benefits of financial planning increased effectiveness and obtaining using and protecting your financial resources Increase control of your financial affairs Freedom from financial worries. Well, is that true? If we follow many of the concepts and techniques that we're going to learn in this class You're going to find that is it is much less worrisome life Financially can't help you with other parts of your life though The ability to look optimistically toward the future and it most important to me Personally is improved personal relationships
Learn on the Go
Take your learning anywhere — the KnowledgeCity mobile app lets you watch lessons on the go.