Course overview
This course will introduce students to personal financial planning, including the ideas and best-practice methods associated with financial decision-making for individuals. Financial decision-making, planning, and control for individuals. Personal financial statements, budgeting, and the control of personal finances. Complications: income taxes and personal insurance. Evaluation of borrowing alternatives: using credit and other forms of consumer loans; comparing interest rates, and adjusting for fees; application to the evaluation of housing and personal loans; budgetary considerations and "affordability". Evaluation of personal investment alternatives: investment planning; conceptualizing risk and return; investing in financial assets; application to investments in shares and other selected assets; borrowing and its effect on risk; introduction to alternative investments; and overview of products and their pitfalls in the financial planning industry.
Course learning outcomes
- Develop expert skills in the application of time value of money concepts and methods to personal financial management decisions.
- Critically evaluate borrowing and personal investment alternatives and their implications for the accumulation of personal wealth.
- Develop and apply personal financial budgets as devices for the planning and control of personal finances.
- Research and apply fundamental concepts related to risk and return and their relevance to personal investment planning and financial management decisions.
- Demonstrate UniSA Business Enterprise Skills in the context of the Financial Planning discipline: i) Problem Solving (intermediate level); and ii) Written Communication (intermediate level).