Course Outline of Record

Item	Value
Curriculum Committee Approval Date	11/05/2024
Top Code	050100 - Business and Commerce, General
Units	3 Total Units
Hours	54 Total Hours (Lecture Hours 54)
Total Outside of Class Hours	0
Course Credit Status	Credit: Degree Applicable (D)
Material Fee	No
Basic Skills	Not Basic Skills (N)
Repeatable	No
Open Entry/Open Exit	No
Grading Policy	Standard Letter (S)
Local General Education (GE)	Area 7E Lifelong Understanding and Self-Development (GE)

Course Description

This course introduces students to financial affairs involving management of expenditures. It includes the budgeting process, using consumer loans and credit, savings on taxes, decisions on transportation and home buying, insurance planning, investments, financial planning, career planning, retirement, and estate transfer decisions. Transfer Credit: CSU.

Course Level Student Learning Outcome(s)

1. Course Outcomes:
2. Prepare a set of financial goals to support a personal financial plan that includes a balance sheet, a cash flow statement, and a monthly budget.
3. Analyze the types, uses, costs, and consequences of consumer credit.
4. Assess types of insurance coverage, long-term savings, and retirement and estate planning.
5. Evaluate various types of investments based on personal goals, available resources, life stage, and risk preference.

Course Objectives

• 1. Develop financial goals using SMART Method and create a personal financial plan.
• 2. Apply budget planning and spending methods.
• 3. Describe the amount of money needed in an Emergency Fund.
• 4. Examine the importance of wise credit usage and living within one's means.
• 5. Evaluate the importance of automobile, home, health, and life insurance.
• 6. Determine fundamentals of various investments including stocks, bonds, and mutual funds.
• 7. Describe the importance of life stage and risk preferences in developing a personal financial plan.
• 8. Describe the importance of long-term planning for retirement and estate planning.

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Lecture Content

Money Management Concepts Financial planning and goal setting Economic cycles Inflation Savings vs Investments Simple interest Net worth calculations Balance sheet Cash flow Personal financial plan - components Taxes in Financial Planning Paying fair share but understanding tax benefit Tax planning and considerations Record keeping Calculating Adjusted Gross Income (AGI) and Taxable Income Deductions and Exemptions Tax forms and filing requirements State taxes Local/Sales taxes Property taxes Savings and Payment Services Understanding various types of savings institutions Commercial banks Credit unions Savings Loans Investment firms (Money Market Accounts) Certificate of deposits Savings and checking services Debit cards Online banks and payment services Cautionary businesses Pawnshops Payday loans Rent to own Credit Advantages and disadvantages Responsible usage Examples of cost Annual Percentage Rate (APR) Interest and fees Credit scores How to build credit (positively) Credit assistance Bankruptcy Wise Spending Consumer spending Daily habits Utilizing budgets tracking spending Unit costs Product research and Price/Value Comparison Car shopping Used cars New cars Leased cars Home purchasing Renting vs Buying Location considerations Savings and down payments Understanding Pr incipal, Interest, Taxes,and Insurance (PITI) Working with agents Home inspection process Insurance Importance of insurance Car insurance Renters insurance Home insurance Health insurance Life insurance Investments Risk vs Reward Long-term strategies Rates of return Bonds Stocks Mutual Funds and Exchange Traded Funds (ETFs) Individual Retirement Account (IRAs) 401Ks Retirement and Estate planning Power of long-term investment strategies Understanding financial needs in retirement Estimating necessary nest egg Will and Trust Estate transfer considerations

Method(s) of Instruction

• Lecture (02)
• DE Live Online Lecture (02S)
• DE Online Lecture (02X)

Reading Assignments

Assigned Textbook

Writing Assignments

Problem-solving exercises in each chapter.

Out-of-class Assignments

Prepare a Personal Financial Plan that includes a budget.

Demonstration of Critical Thinking

Students evaluate various personal finance situations and recommend possible approaches or solutions. These include preparing short-, intermediate-, and long-term financial goals.

Required Writing, Problem Solving, Skills Demonstration

Students complete problem-solving exercises based on the various concepts outlined in lecture content. This helps them evaluate financial decisions and the potential impact of these decisions.

Eligible Disciplines

Business: Master's degree in business, business management, business administration, accountancy, finance, marketing, or business education OR bachelor's degree in any of the above AND master's degree in economics, personnel management, public administration, or Juris Doctorate (J.D.) or Legum Baccalaureus (LL.B.) degree OR bachelor's degree in economics with a business emphasis AND master's degree in personnel management, public administration, or J.D. or LL.B. degree OR the equivalent. Master's degree required. Economics: Master's degree in economics OR bachelor's degree in economics AND master's degree in business, business administration, business management, business education, finance, or political science OR the equivalent. Master's degree required. Management: Master's degree in business administration, business management, business education, marketing, public administration, or finance OR bachelor's degree in any of the above AND master's degree in economics, accountancy, taxation, or law OR the equivalent. Master's degree required. Marketing: Master's degree in business administration, business management, business education, marketing, advertising, or finance OR bachelor's degree in any of the above AND master's degree in economics, accountancy, taxation, or law OR the equivalent. Master's degree required.

Textbooks Resources

1. Required Kapoor, J., et. al. Focus on Personal Finance, 7th ed. McGraw Hill, 2021