Singapore University of Social Sciences

Managing Your Personal Finances (COR167)

Applications Open: 01 October 2019

Applications Close: 30 November 2019

Next Available Intake: January 2020

Course Types: Modular Undergraduate Course

Language: English

Duration: 6 months

Fees: To be confirmed

Area of Interest: Others

Schemes: Lifelong Learning Credit (L2C), National Silver Academy (NSA)

Funding: To be confirmed


Synopsis

Financial planning helps us achieve our financial goals and long-term financial well-being.Recent studies reveal that the large majority of Singaporeans have not done any form of planning for their future. They assume that their CPF savings will provide adequate income for their retirement. It is now known that this is not the case, and the problem is compounded by a longer life span.Managing Your Personal Finances is a financial journey of meeting individual life goals through the proper management of an individual’s wealth. It is also a process that consists of specific steps that will help an individual to ascertain his/her financial health. The detailed process involves gathering relevant financial information, setting financial goals, examining current financial status and coming up with a strategy to meet the current situation and future plans.The learning objectives of this course are:• That the students understand the importance of personal financial planning • That they are able to use the six-step process of personal financial planning • That they are able to apply their knowledge in an integrated project of cash management, investment planning, insurance planning, retirement planning, tax planning, and estate planning. By viewing each financial decision as part of a whole, students can consider the short and long-term effects on their life goals. They can then take effective actions for their financial well-being

Level: 1
Credit Units: 2.5
Presentation Pattern: Every semester
E-Learning: BLENDED - Learning is done MAINLY online using interactive study materials in Canvas. Students receive guidance and support from online instructors via discussion forums and emails. This is supplemented with SOME face-to-face sessions. If the course has an exam component, This will be administered on-campus.

Topics

  • Principles of Personal Financial Planning: Benefits and ProcessPrinciples of Personal Financial Planning: Benefits and Process(I) Importance of financial planning & 5-step Process of Managing Your Own Finance
  • Principles of Personal Financial Planning: Benefits and Process(II) Financial Health Check Up
  • Wealth Creation and Growth: Cash, Investment and Retirement Planning(III) Key aspects of wealth creation through cash management
  • Wealth Creation and Accumulation: Cash, Investment and Retirement Planning(I) Key aspects of wealth creation through investment planning.
  • Wealth Creation and Growth: Cash, Investment and Retirement Planning(II) Key aspects of wealth creation through Time Value of Money
  • Wealth Creation and Growth: Cash, Investment and Retirement Planning(III) Key aspects of wealth accumulation for retirement
  • Wealth Preservation: Insurance, Estate Planning and Tax Planning(I) Key aspects of wealth preservation through insurance planning
  • Wealth Preservation: Insurance, Estate Planning and Tax Planning(II) Key aspects of wealth preservation through tax planning
  • Wealth Preservation: Insurance, Estate Planning and Tax Planning(III) Key aspects of wealth preservation through estate planning

Learning Outcome

  • Demonstrate the ability to assess personal financial health using financial statement and ratios
  • Describe the use of concept of time value of money to daily transactions
  • Illustrate the critical aspects of Wealth Guarding through Tax and Insurance Planning
  • Demonstrate Wealth Growing Process through Investment Planning and Retirement Planning
  • Use the key aspects of Wealth Giving through Estate Planning
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