FIN 1000 Personal Finance

This course adopts a life-cycle approach to financial planning and is designed for students with diverse educational backgrounds. The emphasis is on practical application and decision-making involving personal budgeting, savings, credit scores, consumer credit cards and loans, insurance, financing major purchases, income tax, healthcare costs, investments, retirement, real estate, personal values, and social responsibility. (3 lect.)

Credits

3 credits

Major Topics

  • Personal budgeting
  • Savings
  • Time Value of Money
  • Credit Scores
  • Consumer credit cards
  • Consumer loans (and student loans, if applicable) and Interest Rates
  • Introduction to income tax
  • Insurance (car, life, home, property, rental)
  • Buying a Car
  • Financing Major Purchases
  • Fundamentals of Investments
  • Healthcare costs and their impact on the financial picture
  • Investments
  • Retirement
  • Real Estate
  • Personal values and social responsibility

Outcomes

In order to successfully complete this course, the student will:

1. Build a budget

2. Investigate savings alternatives

3. Read and interpret credit reports

4. Compare credit cards for interest rates and terms

5. Complete an application for consumer loans

6. Compare lending institutions for terms and service

7. Calculate interest using a financial calculator

8. Describe and analyze the impact of government intervention in the market system and how this intervention impacts diverse populations

9. Compare insurance types and terms

10. Evaluate car purchase decisions

11. Determine sources of financing for major purchases

12. Define alternate investment options

13. Explain differing health care costs and payment options among the various socioeconomic groups

14. Investigate alternate investment options such as stocks, bonds, and mutual fund purchases

15. Compare retirement options

16. Complete a real estate application

17. Calculate real estate’s true costs

18. Identify personal values related to social responsibility and develop a plan for giving of time, money or other resources to support those values

Other Information

Any information placed here must be adhered to by all instructors:

For textbook information, contact the instructor.