Bil Syllabus of Co-curricular Unit

1. Name of Subject: Managing Personal Finance 2. Code: USCC 1152 3. Classification: Compulsory 4. Credit Hours: 2 5. Trimester and Year Taught: TBA 6. Prerequisite (if any): Nil 7. Method of Delivery: Lectures and Hands-on assignment 8. Valuation:

Coursework - Participation/Team activities: 10% - Written Assignment (individual): 30% - Written Assignment (group) : 30% - Presentation : 30%

100%

9. Teaching Staff: Lecturer / Assistant lecturer / Experienced trainer

10. Objectives:

To enhance students understanding on the personal financial planning concepts and financial decision.

To highlight the important events in life which affect ones decision and planning on personal financial management.

11. Learning Outcome:

Upon completion of the unit, students would be able to:

1. Describe the basic concept of personal financial planning and management 2. Take charge of own finances 3. Plan to build wealth for future 4. Prepare and manage major life events which affect financial status

12. Synopsis :

This course provides students with an operational knowledge of personal financial planning and

management. It combines theory and applications. It begins with basic concepts including the financial planning process, taxation, investment fundamentals and risk analysis, consumer credit analysis and the valuation process, and other financial topics of interest. It ends by illustrating how specific techniques and decision strategies can be used to maximize the personal finance value at different stages and when facing various events of life.

13. Subject Outline and Notional Hours: Topic

Learning Outcome

Notional Hours

L* T P/

Group Work

SL TLT

Topic 1: Fundamentals of Personal Finance Take charge of personal financial planning

process Wealth cycle principle (building wealth) Protect your family and assets through Health,

Disability, Property, Casualty and Auto Insurance Providing your family through estate planning Estate taxes and deductions Estate Liquidity, Powers of Attorney and Living

wills

LO 1 LO 2 LO3

5 - 5 15 25

Topic 2: Consumer Credit Types of credit

Housing loans Credit cards Personal loans Revolving lines of credit Motor vehicle loans Leasing finance Fully drawn advances Bridging loans

Security of consumer credit Credit assessment The pros and cons of credit cards Choosing source of consumer credit

LO 2 5 - 3 12 20

Topic 3: Life Event Approach to Financial Planning Getting Married Raising a family Handicapped children Coping with divorce Being a single parent Buying and selling a house

LO 3 LO4

10 - 5 20 35

Funding a college / tertiary education Taking advantage of employment benefits Starting your own business Dealing with elderly/ sick parents Losing spouse or life partners Natural disaster Planning for retirement : Health Care and Insurance needed

Total Notional Hours 20 0 13 47 80

Credit Hours 2 14 Condition

This unit is only offered to students in programme not involving in Personal Finance skills to learn about this subject

Main References:

1. Frasca, R. (2009). Personal Finance: An Integrated Planning Approach (8th Edition). United state of America: Pearson prentice Hall

2. Kapoor, J.R., Dlabay, L.R., Hughes, R.J. (2010). Personal finance (9th Edition). Boston: McGraw-Hill.

Additional References:

1. Keown, A. (2007). Personal Finance: Turning Money Into Wealth (4th Edition). New Jersey: Pearson Prentice Hall

2. Gitman, L.J., Joehnk, M. D. (2008) Personal financial planning. , Mason Oh: Thomson/South-Western

3. Bajelsmit, V., Hoboken, Personal finance : skills for life, N.J. : John Wiley & Sons, (2006)

4. Beal, D, McKeown, W. (2006). Personal Finance (3rd Edition). Australia: Wiley