Personal Finance and Money Management

The wise use of financial resources today requires more than an income-producing job and simple subtraction skills. In today's world, an individual must approach his or her financial needs with the savvy of an investment counselor managing the affairs of the company's most important client. With the guidance of finance author and lecturer Bob Rosefsky, Personal Finance and Money Management will teach students the basics of budgeting and buying, the intricacies of home ownership, income tax and investments, and the wise use of insurance, wills, and trusts.

GOALS AND OBJECTIVES

• Plan and budget effectively within income limitations
• Recognize the need to adapt financial planning to changing personal family needs
• Analyze the comparative merits of buying and renting a home; tax implications; buying, selling, and leasing fundamentals
• Evaluate the various types of credit, understand its cost, and know how to utilize it to its best advantage

PROGRAM DESCRIPTIONS

101) The Economy
An exploration of the forces that influence the economy including such issues of national interest as the productivity of workers, government policies and regulations, competition from international business, technological developments, and the use of natural resources.

102) Work, Income and Your Career
A discussion of the factors that affect career choices and the ability to advance in a profession or trade. This program also explores salary considerations, fringe benefits, and laws and regulations that protect the worker.

103) Creating a Workable Plan
Guidelines for establishing a financial plan with an emphasis on budgeting and the use of a financial statement as a planning tool.

104) The Smart Shopper
Techniques that can aid the consumer in purchasing food, clothing, home furnishings, and appliances.

105) Frauds and Swindles
How to avoid frauds, swindles, and investment schemes: learning how they operate and what agencies offer protection to the consumer.

106) Transportation
Important factors the consumer should consider when purchasing and operating an automobile: purchasing a new or used car, dealer vs. individual financing plans, and various types of automobile insurance coverage.

107) Leisure and Recreation
Spending your travel and vacation dollars wisely, plus leisure and recreational activities at home.

108) Buying a Home
Purchasing a house, from initial shopping to closing. Several alternative arrangements for home ownership are explored. Clauses which might appear in the purchase contract are explained.

109) Financing a Home
What to expect from the mortgage market including several creative financing arrangements that will become more popular in the coming years.

110) Housing Costs and Regulation
Various insurance policies that are available to protect the home and home owner, including information on how to file a claim. Property taxes and laws which affect the ownership of property are also discussed.

111) Renting
Financial and legal factors involved in renting. The program also provides guidelines for assessing the pros and cons of renting versus buying.

112) Selling Your Home
Guidelines for selling your home, from setting the price to making your house more salable. The program also explores alternatives for handling potential tax liabilities.

113) Financial Institutions
A look at various types of financial institutions and the services they provide: commercial banks, mutual savings banks, savings and loan associations, credit unions, small finance companies, and credit card companies. The laws that govern financial institutions such as truth-in-lending and the fair credit reporting law are also probed.

114) Credit and Borrowing
A valuable explanation of credit and borrowing including how to calculate the cost of credit and comparison shopping for a loan. The consumer is warned about typical credit abuses and provided with guidelines for counteracting over-indebtedness.

115) Making Your Money Grow
An introduction to investments including federal and state laws governing investments, and the criteria used to compare investment options: safety, liquidity, yield, pledge, and hedge values.

116) The Money Market
An introduction to money market investments: savings accounts, certificates of deposit, bonds, mutual funds, and individual retirement accounts.

117) The Stock Market
The advantages and disadvantages of stock ownership as a form of investing. This program provides a glimpse of the stock market in operation and the key to understanding stock market terminology.

118) Real Estate Investments
The myths and facts about investing in real estate including factors that can affect investments in income-producing property, vacant land, and mortgages. This program also explores the advantages and disadvantages of group investments in real estate.

119) Other Investment Opportunities
Speculative investments including the commodity market, the foreign exchange money market, precious and strategic metals, gem stones, collectible items, and equipment leasing.

120) Life Insurance
The basic elements of life insurance, including the kinds of companies that sell life insurance, and the various plans and policies that are available. Guidelines are provided to assist the viewer in determining how much life insurance is needed.

121) Health and Income Insurance
Basic health insurance packages are examined and compared to alternatives such as health maintenance organizations and worker's compensation. The program also explores various types of income and disability insurance programs that are available.

122) Financial Planning for Later Years
The importance of planning for the availability of income support for later years. This program also examines some of the major financial decisions faced by older people such as the advantages of maintaining their home versus renting.

123) Estate Planning: The Tools You'll Use
The terminology and mechanics of estate planning with an emphasis on the development of a will plus alternatives that can be used to transmit wealth.

124) Estate Planning: Achieving Your Objectives
An estate plan not only establishes the proper distribution of assets, but also is a program for managing those assets which will minimize loss and taxation. In addition to explaining how estate taxes work, this program explores a variety of tax avoidance devices including gifts, life insurance, annuities, and the joint ownership of property.

125) How Income Taxes Work
A program designed to give general understanding of federal income tax laws and forms.

126) Tax-Saving Strategies
A presentation of some of the more common strategies that can be used to minimize the amount of federal income tax that must be paid such as tax exempt and tax deferred income, income splitting, and tax shelters. Procedures for filing tax returns and surviving an audit are also explored.