ECNM113

Identify the strategies and tools to assist in formulating career goals.

Develop and/or utilize the key tools to make financial planning decisions, namely personal financial statements (the budget and net worth *statement), time value of money concepts (calculation of present and future values of single sums and annuities), and basic tax planning.

Examine the key decisions surrounding cash management, namely banking and interest rates, and assessing, securing, and managing credit.

Demonstrate how to shop wisely for large purchases, specifically home, automobile, and college education, and how proper borrowing can help support these purchases.

Discuss the core principles of insurance and its importance for protection against loss, damages, and liability. Special emphasis placed on Life, health, disability, auto, and homeowner’s insurance.

Formulate an appropriate investment strategy to meet financial goals considering risk tolerance and time horizon by understanding the characteristics of various investments such as stocks, bonds, and mutual funds.

Demonstrate how to protect wealth that has accumulated over time through basic retirement and estate planning.

Examine how U.S. and global economic, political, and social events can affect a personal financial plan.