This course provides a practical overview of personal finance management with the intent to provide students with the knowledge and skills to manage their personal finances effectively, in order to ultimately attain financial security. Emphasis will be placed on the development of personal financial management skills. Areas of study will include financial planning, budgets, basic finance and financial statements, credit management, savings, personal risk management, insurance, retirement planning, and investments.

Learning Objectives and Outcomes:

By the end of this course students will be able to:

1. Apply the basic skills, knowledge, and context required for personal financial planning and for making personal financial decisions.
2. Explain the concept of time value of money and calculate present value, future value and periodic payments.
3. Demonstrate decision-making skills useful in making major consumer purchases such as a home or automobile.
4. Evaluate elements of risk in the management of personal finances and determine the appropriate methods to reduce personal risks through insurance and retirement.
5. Demonstrate an understanding of the need to build wealth through the right investment programs (such as Bonds, Stock, Mutual Funds, Commodities, Real Estate, and Collectibles).

Course Schedule and Topics

This course will cover the following topics in eight learning sessions, with one Unit per week. The Final Exam will take place during Week/Unit 9 (UoPeople time).
Week 1: Unit 1- Personal Financial Planning
Week 2: Unit 2-Basic Finance and Financial Statements
Week 3: Unit 3-Evaluating Choices: Time, Risk, & Value
Week 4: Unit 4-Financial Plans: Budgets
Week 5: Unit 5-Consumers Strategies
Week 6: Unit 6-Personal Risk Management: Insurance and Retirement Planning
Week 7: Unit 7-Investing Basics
Week 8: Unit 8-Investing in Mutual Funds, Commodities, Real Estate, & Collectibles
Week 9: Unit 9-Final Examination

Learning Guide

The following is an outline of how this course will be conducted, with suggested best practices for students.

Unit 1: Personal Financial Planning

● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit Unit 1 Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 2: Basic Finance and Financial Statements

● Peer-assess Unit 1 Assignment
● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit Unit 2 Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 3: Evaluating Choices: Time, Risk, & Value

● Peer-assess Unit 2 Assignment
● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Make entries to the Learning Journal
● Take the Graded Quiz

Unit 4: Financial Plans: Budgets

● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit Unit 4 Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 5: Consumer Strategies

● Peer-assess Unit 4 Assignments
● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit Unit 5 assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 6: Personal Risk Management: Insurance and Retirement Planning

● Peer-assess Unit 5 Assignments
● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Make entries to the Learning Journal
● Take the Graded Quiz

Unit 7: Investing Basics

● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Complete and submit Unit 7 Assignment
● Make entries to the Learning Journal
● Take the Self-Quiz

Unit 8: Investing in Mutual Funds, Commodities, Real Estate, & Collectibles

● Peer-assess Unit 7 Assignments
● Read the Learning Guide and external Reading Assignments
● Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
● Make entries to the Learning Journal
● Take the Self-Quiz
● Read the Unit 9 Learning Guide carefully for instructions on the Final Exam
● Take the Review Quiz

Unit 9: Course Review and Final Exam

● Read the Learning Guide and take the Review Quiz, if you haven’t already done so
● Prepare for, take, and submit the Final Exam
● The Final Exam will take place during the Thursday and Sunday of Week/Unit 9 (UoPeople time); exact dates, times, and other details will be provided accordingly by your instructor