Money management can be intimidating. Fortunately, most of us only need to learn a few basic principles to make good financial decisions. Get a comprehensive overview of what everyday people need to know. Whether you're just getting started in life or contemplating retirement, this course offers an excellent primer with all the information you need to build a financial plan to achieve your goals.
Money Management Skills
Learn the basic principles of money management with this course that teaches you how to build a financial plan to achieve your goals.
Rated 5 out of
5
by
Lee Jackson from
life cycle theory
I especially enjoyed the lecture on life style theory. Most investment teaching does not touch on this theory, which is ashamed, as it emphasizes enjoying your time on earth throughout your life cycle, and spend some when you are young instead of focusing on save, save, save, which is emphasized in most investment teaching.
Date published: 2024-10-12
Rated 5 out of
5
by
millgv12 from
Excellent, one important clarification
One need only be 55 years old, not 59 1/2, to begin penalty free withdrawls from a 401K, if one is separted from employment and where the prior employer managed the 401K. Because of the false assertion that one had to be 59 1/2, I for one could have retired at 55, but was 58 when I finally read the IRS rule.
Also perhaps the presenter could add a addendum to update IRA rules, e.g. 73 instead on 70 1/2 for RMD, etc.
Date published: 2023-06-29
Rated 1 out of
5
by
Bugs Bunny from
Na
Wouldn't recommend it. Though it has some good info
Date published: 2023-01-28
Rated 5 out of
5
by
Ripleyfh from
Money Management Skills
Professor Michael Finke did a wonderful job explaining how to manage money during the entire life-cycle.
Date published: 2022-08-20
Rated 5 out of
5
by
Happy Continuing Edu2 from
Truly excellent course
We found this to be a truly excellent course. Since we are entering our retirement years, an accountant told us we should consult a financial planner. After meeting with 3 advisors, we realized that we did not know enough to evaluate their advice or to choose the best advisor! Enter the Great Courses and this course, and it was just what we needed to help us understand which financial choices we have made so far are on track and what we now need to do with help from a financial planner. (And now we know which certifications to look for in a planner.) We got a tremendous amount of value from this course and would recommend it for anyone who wants clarification about money management and financial information.
Date published: 2022-04-23
Rated 5 out of
5
by
May B from
Great advice, though some details out of date
I watched this in conjunction with reading a personal finance book meant for young adults, and found they complemented each other well. I appreciated the depth of information covered, including estate planning, which is something I should be aware of for myself and something I should talk about with my parents, who are on the brink of retirement. I really liked the lifecycle theory - I'm currently living abroad for a year, and although I worry I'm not saving as much as I should, I realized that older versions of me would rather I enjoy this once-in-a-lifetime opportunity to the fullest rather than scrimp to meet savings goals meant for when I am at home and making a US salary.
The only word of warning I would offer is that taxes have changed since this was released. There is no longer a 1040-EZ, and you can no longer claim exemptions on taxes. I know this caused confusion and unfortunate delays and errors for many people who recently filed for the first time in many years in order to claim stimulus payments. Resources like FreeFile and VITA, however, are still going strong, and everyone should take advantage of them to the fullest extent!
Date published: 2022-01-29
Rated 5 out of
5
by
WalterKing from
Great Ideas
Ideas in this course saved me a lot of money when it came to managing insurance.
Date published: 2021-10-24
Rated 5 out of
5
by
Bubblez from
a lot of great features
this has help me a lot thank you I'm glade i got this
Date published: 2021-07-02
Overview
About
Professor Michael Finke is a Professor of Personal Financial Planning and Director of the Retirement Planning and Living Consortium at Texas Tech University, where he leads the doctoral program-considered the premier academic program in financial planning. He has doctoral degrees in Consumer Science from The Ohio State University and in Finance from the University of Missouri.A longtime advocate for ethical financial advice, Professor Finke is the former president of the American Council on Consumer Interests and serves as an expert on regulatory and legal issues related to financial planning. He is the author of numerous award-winning research articles in the fields of retirement income, investment advice, and investor decision-making. He has also received numerous awards as an instructor of a wide range of financial planning courses, from basic undergraduate personal finance to doctoral-level research methods.He frequently speaks at industry and academic conferences on advanced financial planning topics. As an expert on personal finance issues, Professor Finke has appeared in the national press, including the Wall Street Journal, the New York Times, USA TODAY, Kiplinger's Personal Finance, and SmartMoney. He is also a frequent guest on national radio shows, such as NPR's On Point with Tom Ashbrook.
Trailer
01: Understanding Your Financial Brain
Begin your course with an examination of the brain to explore the tension between conscious decision-making and the automatic emotional response of our limbic systems. This tension affects many of our approaches to financial management, including our innate aversion to loss, our tolerance of risk, and our investment confidence.
34 min
02: Managing Money with Life Cycle Theory
In this lecture, you will reconsider your entire approach to your finances. Life cycle theory is a framework for making financial decisions at different stages in your life, and it offers sound guidance for saving, borrowing, and investing across time. In other words, it's about making sure you get the most out of your money from young adulthood through retirement.
28 min
03: Basic Investing-Keep It Simple
You don't have to be a financial guru to make wise investment choices. In fact, as you will learn in this lecture, a few basic rules of thumb are all most of us need to make solid financial choices. Review the basics of investment and risk, the importance of diversification, and a simple theory for building a profitable investment portfolio.
28 min
04: The Key Financial Instruments
Tour the range of investment options, from liquid assets such as cash and checking accounts to long-term assets such as mutual funds, stocks, and bonds. See what fees and returns you can expect from each type of instrument-and what tax obligations you may incur. Then build a strategy of investment for the long haul.
30 min
05: How to Use Credit Optimally
Debt can be intimidating, but when used appropriately, it is a powerful tool. Psychology plays a key role when we take on debt, so it is important to recognize bad habits such as impulsiveness. After getting an overview of credit and credit history, you'll survey the variety of loans available, from credit cards to auto loans to mortgages.
29 min
06: Investing in Education
Most economists would agree that education offers one of the highest returns of any investment; however, paying for college often involves taking on student loans. Whether you're a high school student or a parent preparing to pay for your child's tuition, learn the key risks of student loans, and see what tax advantages you might apply toward a college education.
32 min
07: The Economics of Home Ownership
After education, home ownership might be the most important financial decision we make in our lifetimes. Is home ownership really a great investment? When should you buy a house versus renting? Examine these questions as well as the basics of obtaining a mortgage. Key considerations include types of loan, mortgage insurance, points, and taxes.
30 min
08: Managing Risk with Insurance
Insurance is really about "risk management." The world abounds with perils, and insurance is about estimating the probability of a loss and weighing the cost of insurance versus potential out-of-pocket expenses. Fortunately, some elementary principles help guide you toward critical coverage and help you avoid less beneficial policies.
30 min
09: Essential Tax Principles
No discussion of finances can evade the topic of taxes. In this lecture, Professor Finke provides a clear and concise overview of the U.S. income tax system: how our income is taxed, as well as the myriad credits and deductions that are available. His discussion also includes payroll and state taxes, as well as other taxes the average American pays.
29 min
10: Saving for Retirement
When should you retire? And how do you save enough to ensure that you're financially covered for the future? This lecture demystifies the retirement savings process with continuing guidance from the life cycle theory of managing money. Explore the different investment options at your disposal-including 401(k)s, IRAs, and annuities-and build a strategy for retirement.
33 min
11: Fundamentals of Estate Planning
The goal of estate planning is to prepare your financial affairs to save your relatives from a confusing mess of assets, liabilities, and property transfers after you've passed. Here you'll discover a roadmap for sorting out your affairs, setting up trusts for your assets, and creating a plan for your end-of-life care options.
32 min
12: Putting Your Financial Plan Together
Wrap up the course by building a solid and realistic financial plan. You'll learn how to set up a cash-flow statement, prepare a budget for future expenditures, and make a balance sheet for your estate planning process. Then, apply the fundamentals of this course to achieving your financial goals.
35 min
