BA 218 Personal Finance

Lecture Hours: 4
Credits: 4

Examines the principles and concepts of personal finance. Reviews personal financial planning in the areas of money management, budgeting, career planning, taxes, consumer credit, housing decisions, legal protection, insurance, investments, retirement, and estate planning.

Student Learning Outcomes:

Plan and budget personal resources effectively considering lifestyle and career choices.
Adapt financial planning to changing personal and family needs.
Evaluate how financial decisions affect income tax liability.
Analyze the comparative merits of buying and renting a home; costs of obtaining and maintaining a home; tax implications, buying, selling, and leasing fundamentals.
Evaluate the various types of credit; understand its costs and how to utilize it to best advantage.
Discuss the various types of life, health, property, and income insurance plans, and relate this information to personal needs before purchase.
Analyze the advantages and disadvantages of various investment options in light of personal needs, resources, and goals.
Identify various retirement and estate planning options.

Content Outline

Planning Your Personal Finances
- Personal finance basics and the time value of money
- Career planning
- Money management strategies
- Tax strategies
Managing Your Personal Finances
- Savings plans and payment accounts
- Consumer credit
- Credit alternatives
Making Your Purchasing Decisions
- Purchasing strategies and legal protection
- Housing decisions
Insuring Your Resources
- Property and vehicle insurance
- Health, disability, and long-term care insurance
- Life insurance
Investing Your Financial Resources
- Investing fundamentals
- Stocks, bonds and mutual funds
- Real estate
- Other opportunities
Controlling Your Financial Future
- Retirement planning
- Estate planning