Learning Objectives and Class Prep - Personal Financial Management
Introduction
Almost everyone would like to be wealthy, but many people do not realize that achieving this goal is often as much a function of spending decisions as it is about income levels. This chapter will introduce you to the concepts of asset allocation, compounding, and personal budgeting in an effort to get you started along the path of achieving financial independence.
Learning Objectives
Upon completing the learning activities associated with this lesson, class participants should be able to:
- Develop strategies to avoid being burdened with debt.
- Explain how to manage monthly income and expenses.
- Define personal finances and financial planning.
- Explain the financial planning life cycle.
- Discuss the advantages of a college education in meeting short- and long-term financial goals.
- Explain compound interest and the time value of money.
- Discuss the value of getting an early start on your plans for saving.
Preparation for Class
1. Read Chapter 18
2. Watch the Video Presentations linked at the end of the chapter