Everyone knows, unless you are born into wealth, which very few are, requires managing finances effectively, something most people struggle with personally and professionally. And that can cost serious damage.Be wary of minor expenditures, as they could result to a potentially fatal sinking of even the best of ships.” This was told by the financial guru Ben Franklin. Tedious miscalculations such as these, learning how to spend your money properly through budgeting can go a long way in protecting your financial self-sustainability.
1. What Constitutes Personal Finance?
Personal finance is how an individual handles their money matters. It encompasses many different elements including income, expenditures, savings, and investments. Personal finance includes:
- Earning (Salary or business income)
- Income Monitoring (Tracking your income and expenses)
- Monthly expenditures (Bills, food, etc.)
- Expenses charged on credit cards
- Loans, such as a mortgage, personal, etc.
- Investments such as the stock market or mutual funds
- Life, health, and all other premiums coverage
- Debts in your name
- Retirement as well as child education and travelling
As you can imagine, each individual handles these categories differently, hence why personal finance is so complex. This course teaches you how to properly manage your finances.
2. Personal Finance Course Outline
Personal finance entails everything from budgeting to investment. Following is the summary of topics we will cover in this class:
i. Concept of Personal Finance
Knowing the principles of personal finance and the effect it has on one’s life.
ii. Categories of Personal Finance
Managing financial resources, including budgeting, investing, and saving.
iii. Money Management
Learn to manage expenditure, savings, and investment for one’s wealth.
iv. Expense Management
Learn the methods to monitor and confine the daily expenditures to avoid overspending.
v. Earning Interest
How to receive returns through a wide array of finances such as savings and investments.
vi. Debt Management
Ways to handle outstanding debts and/or balances in credit or convenience cards or any loan accounts.
vii. Using Credit Cards
How to utilize credit cards and remain in control of personal debts.
viii. Renting vs Buying a House
Analyze the advantages renting a house and owning a house and decide what suits best.
ix. Renting vs Buying a Car
Understand the necessity and pros of leasing and/or purchasing a car.
x. Taxation Processes
What taxes are and how to budget finances to reduce tax burdens.
xi. Insurance Policies
Review the different types of insurance policies and how they can mitigate risk for an individual’s financial assets.
xii. Higher Education for Children
Planning, timely investing, and other essential factors for a child’s education can be done today.
xiii. Money Management Apps
The most efficient apps for managing your finances and expenses in a single place.
xiv. Securing Bank Transactions
Protecting your bank accounts and how to prevent losing your money to fraudulent activities.
xv. Importance of Having a Will
The role of a will in ensuring care for the loved ones left behind and the assets secured with it.
3. Expert Instructors
The instructors for this course are specialists in personal finance with several years of knowledge and experience.
Mr. Sanjay Kathuria
Financial Domain Expert Mr. Sanjay Kathuria: Father of the Indian Think Tank ‘Bada Business’ where he is a Director and is renowned for his Personal Finance knowledge.
Mr. Pankaj Chhabra
A seasoned trainer, Mr. Pankaj Chabbra is also a CA and specializes in Investment, Personal Finance, and Stock Market.
Ms. Pallavi Nagpal Jairath
Ms. Pallavi has conducted numerous programs focusing on Personal Finance and Stock Markets and has always emphasized on spreading knowledge to larger audience.
Key Takeaways
At the end of the course, the participant will have an ability to Be in control of their finances and cut down unnecessary wasteful spending.
- Make a budget that is believable so that you can set money aside and invest it.
- Download money management applications that will help you monitor and change your financial behavior for the better.
- Study every piece of personal finance including taxes and retirement.
