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Introduction to Personal Financial Planning

Understand how financial planning impacts your personal wealth over a lifetime. This course develops your ability to work with income statements, balance sheets, budgets, and taxes to achieve your financial goals.

There is one session available:

5,175 already enrolled! After a course session ends, it will be archived.
Starts Jul 23
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Estimated 4 weeks
4–6 hours per week
Self-paced
Progress at your own speed
Free
Optional upgrade available
Introduction to Personal Financial Planning

About this course

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Introduction to Personal Financial Planning is made possible by the Brian and Sheila Jellison Family Foundation.

The Introduction to Personal Financial Planning course is designed for individuals to build financial literacy, one of the most pressing needs Americans face today. Financial decisions made by individuals impact the larger community in significant ways with pervasive cost due to financial mistakes. A recent study by the Financial Industry Regulatory Authority (FINRA) reveals over 50% of Americans have less than $10,000 saved for retirement. In addition, over 50% of Americans have no emergency fund, unable to cope with an unexpected car repair without borrowing funds. Financial literacy is an urgent need for many.

In this course, you’ll gain the basic building blocks of financial literacy to build a secure foundation for your future.

This fast-paced course prepares you to:

  • Build a financial plan through a step-by-step approach designed to meet your personal financial objectives
  • Understand financial planning essentials including income statements, balance sheets, and budgets
  • Recognize how planning and timing impact your personal wealth over a lifetime
  • Go deeper into your understanding of taxes and how tax decisions impact your wealth
  • Identify obstacles to sound financial decisions, including common cognitive errors and confirmation biases
  • Discover valuable resources including personal financial planners
  • Explore the scope and purpose of personal finance and its role in the broader spectrum of financial knowledge
  • Appreciate how positive reinforcement and research-based evidence impact your financial goals

Build your money management skills through course videos, selected short readings, and self-paced activities. You’ll gain practical skills, understand the core concepts of financial planning, and achieve a broader understanding of how personal financial planning contributes to a successful and fulfilling life.

Improve your financial situation, net worth, and retirement plan by registering for the Personal Finance Program.

At a glance

  • Institution: IUx
  • Subject: Economics & Finance
  • Level: Introductory
  • Prerequisites:
    • Good reading comprehension
    • Basic arithmetic
    • Willingness to learn
  • Language: English
  • Video Transcript: English
  • Associated programs:

What you'll learn

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Through course videos, selected short readings, and self-paced activities, students gain both conceptual and practical knowledge of core concepts of financial planning to:

  • Define the scope of personal financial planning and understand its impact
  • Utilize the SMART financial planning method
  • Make progress toward your financial goals and avoid common mistakes
  • Evaluate the services of financial planning professionals
  • Classify assets and liabilities
  • Use a formula to determine net worth
  • Prepare and use financial statements, including budgets
  • Account for rates of return and opportunity cost
  • Determine the present value of single and multiple cash flows
  • Review taxation basics including filing, deductions, exemptions, credits, and audits
  • Understand options to defer or avoid taxes legally and responsibly
  • Get ahead in a low interest rate environment
  • Deepen your understanding of how money impacts your personal satisfaction

Syllabus

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Week One
An overview of Finance as a field of study and the Personal Financial Planning Process

Week Two
Basic Financial Statements and Budgeting

Week Three
Taxation Concepts and Tax Planning

Topics in Personal Finance
Key topics and strategies for Personal Financial success

About the instructors

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