0 or 3 credits
Spring 2025 Distance Learning Lecture Lower Division
This course will provide knowledge and skills for young adults to be active, informed, and rational managers of their financial life. The course will particularly address the following 4 areas of personal finance. Managing money: Why it's useful to plan one's financial affairs, budgeting, being an informed manager of one's money and consumer of financial products. Financing large items using savings and credit: Know how credit works, how to use it wisely, and how to avoid over indebtedness. Learn savings strategies to maximize the growth of your money. Using financial markets: What are the different ways to invest, and how to make them work for you and your objectives (such as retirement). Managing risk: How to use financial tools (such as insurance) to protect yourself against risk. The course will emphasize age-relevant knowledge and practical advice, with the objective to help students make better financial decisions and adopt better financial behaviors for the long term.
Learning Outcomes1Estimate their budget, according to basic general principles of accounting, and use it to improve their financial situation by matching expenses to income and smartly planning for the long-term.
2Decide whether to use savings and/or credit to finance large purchases, which implies being able to save in the most appropriate and rewarding way, and distinguishing between the benefits and drawback of various sources and types of loans.
3Invest in financial markets wisely using appropriate financial instruments, based on their personal situation at any point in time (including planning for retirement).
4Identify and implement the best financial products to protect themselves against risk (e.g. different types of insurance).
5Make financial decisions in an informed and carefully thought-out manner, including reaching out to appropriate resources and advice when necessary.
Attachments
made by Purdue students.