Standard |
rev.09/02/03
Provides knowledge and applications in the management of personal and consumer finance. Topics include: record keeping, budgeting, credit principles, investment principles, and forecasting.
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Competency
Areas |
Hours |
|
|
Class |
4 | |
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Budgeting |
D. Lab |
1 |
|
Credit Principles |
P. Lab/O.B.I. |
0 |
|
Investment Principles |
Credit |
4 |
|
Forecasting |
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Prerequisite: |
Program Admission |
Course Guide |
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Competency |
After completing this
section, the student will: |
Hours | ||
|
Class |
D.Lab |
P.Lab/ O.B.I. | ||
|
RECORD KEEPING |
5 |
5 |
0 | |
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Terms |
Define terms associated with record
keeping. |
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Types |
List types of records (i.e., personal, financial, and
business). |
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Purpose |
Explain the purpose of record
keeping. |
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Application |
Devise a record keeping system. |
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BUDGETING |
5 |
5 |
0 | |
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Terms |
Define terms associated with
budgeting. |
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Purpose |
Compare the advantages and disadvantages of
budgeting. |
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Approaches to budgeting |
Describe the life cycle approach to
budgeting. |
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Steps |
List the steps in developing a financial
plan. |
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Factors that affect budgeting |
Explain the factors that affect
income. |
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Analyze family budgets. |
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Savings |
Discuss various methods of saving. |
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Compare the advantages and disadvantages of
savings. |
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Compare the earnings potential of various savings
plans. |
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Calculate interest earnings. |
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10 |
0 |
0 | ||
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Terms |
Define terms associated with credit. |
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Credit use |
List the advantages and disadvantages of credit
use. |
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Fill out an application for credit. |
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Evaluate credit applications and
contracts. |
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Types of credit |
Compare the types of available consumer
credit. |
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Sources of credit |
Identify sources of credit. |
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Interest computation |
Identify methods of interest
calculation. |
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Consumer credit legislation |
Explain laws affecting consumer
credit. |
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Discuss consumer bankruptcy laws. |
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INVESTMENT PRINCIPLES |
10 |
0 |
0 | |
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Terms |
Identify terms related to investment. |
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Differentiate between stocks and
bonds. |
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Interpret investment information. |
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Investment types |
Identify investment types. |
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Goals |
Identify investment goals. |
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Relate investment goals to types of investments. |
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FORECASTING |
10 |
0 |
0 | |
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Personal insurance |
Compare types of life insurance. |
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Compare types of health insurance
plans. |
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Evaluate insurance policies. |
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Summarize the use of insurance in overall financial
planning. |
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Property insurance |
Compare the types of property insurance
available. |
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Evaluate automobile insurance
coverage. |
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List types of homeowner policies. |
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Compare homeowner perils to homeowner insurance
coverage. |
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Estate planning terms |
Identify terms associated with estate
planning. |
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Wills |
Identify requirements of a valid
will. |
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Discuss the importance and advantages of estate
planning. |
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Suggested Resources |
Gitman, L. J., & Joehnk, M. D. Personal Financial Planning. Chicago: Dryden Press.
Winger and Frasca. (2000). Personal Finance: An Integrated Planning Approach. 5th Edition. Englewood Cliffs, NJ: Prentice Hall.