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Chabot College
Fall 2008
Course Outline for Business 43
PERSONAL FINANCIAL PLANNING
Catalog Description:
43 – Personal Financial Planning
3 units
Focuses on the time value of money, budgeting, use of credit, investing, taxation of personal
income and assets, types of insurance and risk management, health care planning,
retirement planning, and estate planning. 3 hours.
[Typical contact hours: 52.5]
Prerequisite Skills:
None
Expected Outcomes for Students:
Upon completion of this course, the student should be able to:
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relate interest rates to credit cost;
describe the proper use of credit;
create an individual and family budget;
establish an individual investment plan;
define the major types of insurance;
contrast various classes of investments;
discuss advantages/disadvantages of renting versus owning a home;
describe how income and other forms of taxation affect financial plans;
demonstrate knowledge of main financial planning terms;
describe various careers within the field of financial planning.
Course Content:
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Importance of Personal Finance
a. Time-value of money
b. Career-related money decisions
c. Key steps in financial planning
Financial Planning
a. Balance Sheet and Cash-flow statements
b. Using financial ratios to evaluate financial strengths
c. Keeping financial records
d. Selecting a Financial Planner
Budgeting and Cash-flow
a. Organizing a budget
b. Decision-making phase of budgeting
c. Implementation and control phases of budgeting
Managing Income Taxes
a. Income tax rates
b. Ways to pay income taxes
c. Calculating income taxes
Credit Use and Credit Cards
a. Obtaining credit
b. Credit Scores
c. Types of consumer credit
d. Managing credit wisely
e. Dealing with over-indebtedness
Managing Major Purchases
a. Prioritizing needs
b. Housing
c. Automobile Purchases
d. Comparison shopping
Chabot College
Course Outline for Business 43, Page 2
Fall 2008
e. Negotiations
Risk Management and Insurance
a. Understanding how insurance works
b. Home owners’ insurance
c. Automobile insurance
d. Liability insurance
e. Health insurance
f.
Life insurance
8. Health Care Planning
a. Sources of health care benefits
b. Types of medical costs
c. Long-term care health care
9. Investment Fundamentals
a. Creating an investment plan
b. Steps to take for effective long-term investing
c. Factors that affect the rate of return on investments
d. Personal financial decisions
10. Retirement and Estate Planning
a. Calculating your financial need in retirement
b. Employer and personal established retirement plans
c. Government Plans including Social Security
d. Transferring your estate to your heirs
e. Advance directive documents
f.
Impact of estate and inheritance taxation
11. Careers in the Financial Planning Field
a. Available Certifications
b. Educational requirements for professional financial planners
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Methods of Presentation:
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Lectures and discussions
Seminars
Videos
Guest Speakers
Team activities (presentations, posting to Blackboard, projects)
Assignments and Methods of Evaluating Student Progress:
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Typical Assignments
a. Prepare a presentation on a personal financial plan
b. Write a paper on the use and relevance of asset allocation
c. Analyze a case from the textbook
Methods of Evaluating Student Progress
a. Graded team and individual presentations
b. Examinations
c. Quizzes
d. Graded case analyses
e. Graded internet assignments
f.
Final examination
Textbook(s) Typical:
Personal Finance, Garman, Forgue, Houghton Mifflin, 2007
Special Student Materials:
None
nr 09/10/2007, revised 10/26/07 Bus 43 course outline.doc