Personal Finance I

Curriculum guideline

Effective Date:
Return to Course
Print Guideline
Course
FINC 2300
Discontinued
No
Course code
FINC 2300
Descriptive
Personal Finance I
Department
Finance
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
202030
PLAR
No
Semester length
15 Weeks X 4 Hours per Week = 60 Hours
Max class size
35
Contact hours
Lecture: 3 Hours Seminar: 1 Hour
Method(s) of instruction
Lecture
Seminar
Learning activities

Material will be presented within a lecture/discussion environment.

Course description
This course applies the six step financial planning process to basic financial planning scenarios. Topics include setting goals, net worth and cash flow management, debt management and calculation of mortgage financing options. Savings and investment products are covered as well as the essentials of RRSPs, TFSAs, government benefit programs, and personal insurance. Taxation as it relates to long term personal financial planning is covered at an introductory level. In addition, an overview of the products and services available to individuals and businesses through financial institutions will be covered.
Course content
  1. Introduction to financial planning.
  2. Introduction to personal income tax.
  3. Calculating saving and investing requirements to reach goals.
  4. Overview of financial products and services.
  5. Insurance products and planning.
  6. Government programs including OAS, CPP, GIS, RRSP and TFSAs.
  7. Retirement planning.
  8. Consumer credit rating, debt management and mortgages.
  9. Wills and estate planning basics.
  10. Legal and ethical conduct in the financial services industry.
Learning outcomes

Upon successful completion of this course, students will be able to:

  1. develop financial planning goals;
  2. prepare personal financial statements (including a personal budget, cash flow statement, and statement of net worth);
  3. incorporate basic knowledge of personal income tax in financial planning decisions;
  4. consider and calculate various types of personal insurance needs and coverage options;
  5. describe and recommend relevant products and services available from financial institutions;
  6. describe and recommend general investment options (saving accounts, stocks, bonds, mutual funds, etc.) and types of accounts and their features for wealth management;
  7. conduct a financial analysis of renting versus buying a house;
  8. calculate and recommend strategies to achieve retirement and estate planning goals; and
  9. demonstrate in a responsible and accountable manner the legal, ethical and social parameters of the financial industry.
Means of assessment
Term Tests and Quizzes (4-6)      40-50%
Final Examination  30-40%
Projects/Assignments     20-30%
Total 100%
Textbook materials

Textbooks and Materials to be Purchased by Students

Madura, Jeff and Gill, Hardeep S. Personal Finance. Latest Canadian Edition, Pearson, or alternate textbook approved by department.

Calculator: Texas Instruments BA II Plus

Prerequisites

(FINC 1231 or FINC 1230 or MATH 1125 or approved substitute) or MATH 1120 with permission of instructor, or currently active in PDD Financial Planning.

Corequisites

Nil

Equivalencies

Nil

Which prerequisite

FINC 3300