Personal Financial Planning

Syllabus

BBA 621-18

Personal Financial Planning

UNIT I

Understanding Personal Finance: Financial Security, Time Value of Money, Importance of Personal Financial Planning, Principles of Personal Finance, Financial Planning Process, Biases in Personal Finance. Financial Statements and Ratios Analysis: Managing Cash Flows, Creating and Reviewing Financial Statements, Analysing Financial Statements, Budget.

UNIT II

Introduction to Insurance and Risk Management: Risk and Return, Risk Management, Risk Diversification, Managing Life, Health and Disability Risks, Concept and Types of Insurance.

UNIT III

Investment Fundamentals: Saving and Investment, Rules of Investing, Debt and Equity. Investment in Bonds and Mutual Funds. Managing Income Taxes: Introduction to Personal Income Tax Planning, Tax Avoidance and Tax Evasion. Building and Maintaining Good Credit: Credit Basics and Debt Management, Sources of Debt, Credit Report and Scores.

UNIT IV

Introduction to Retirement Planning: Basic Retirement Plans. Estate Planning. Ethical Considerations in Personal Financial Planning.