Money Matters : Financial Planning Primer

Name: Money Matters : Financial Planning Primer
Rating: 4.0 (9 reviews)

Take charge of your financial future - now

Created byProskills Academy

Last updated 11/2020

English

English [Auto],

What you'll learn

Fundamentals of financial planning process
Steps of financial planning process, investment avenues
How to plan your finances for life events

Course content

5 sections • 18 lectures • 3h 35m total length

Role of money in our lives9:05
The financial planning process is essentially a process of building a healthy relationship with Money. To be able to do this, we must first understand what role money plays in our lives.
In this lecture, we look at the historical perspective about money, the role money plays in our lives now and why it is essential for each one of us to know money in detail.
Why should one invest6:40
In this lecture, we look at John Doe's example and understand what happens if you save but do not invest your money in income-generating assets.
At the end of this lecture, you will be able to appreciate the need to invest your savings and generate a healthy return on them. This is the only way to secure your financial future.
Taking charge of financial planning process5:30
In this lecture, we lay down the process that will help you take charge of your financial future. The six steps described in this lecture will guide you to acquire the necessary skills to secure your financial future.
Building wealth to meet your financial goals7:34
Building wealth is a process. One needs to combine multiple approaches like saving, retirement planning and active investing and build wealth to meet financial goals.
This lecture lays down a roadmap to achieving your financial goals. We get introduced to the steps in this lecture, which will be covered at length in the next section.
Knowledge Check - Getting Started

Setting financial goals25:52
Financial planning is about identifying your money goals and then putting together a plan to fulfil them. Identifying what are your financial priorities for your current life stage is very important. A goal well defined will make it easier for you to meet/fulfil.
This lecture covers important concepts like net-worth, cash flow and how it is important to work through your financial concerns and identify goals.
Understanding asset classes8:54
After setting financial goals, the next step is to understand where one can invest to generate returns. Asset classes are the categories where one can invest money for generating returns. This lecture explains four asset classes that a common investor can use while investing money.
Understanding investment instruments8:09
In this lecture, we look at various instruments (investment vehicle) available to invest in a specific asset class to generate returns. This lecture also explains the investing ecosystem and the role of various intermediaries therein.
Learning important investment concepts16:29
After learning about various investment vehicles, it is important that you look at some important financial concepts such as investment returns and risks which are key to preparing your financial plan. This lecture explains those concepts in detail.
Developing investment strategy9:54
Developing an investment strategy is the core of the financial planning process. At this stage, you actually decide the portfolio structure, asset allocation and work with determining target return to meet your financial goals. This lecture will show you how it is done.
Implementing your investment strategy8:10
Once you decide on an appropriate investment strategy - the next steps involve deciding which instruments to buy, when to buy and through which route. This lecture will help you to answer these questions.
Knowledge Check - Investment Planning

Role of life insurance in your financial plan15:08
Insurance is an important component of your overall financial planning. It helps you remove worry or anxiety by making provision for your loved ones in the possibility of you not being around for them.
In this lecture, we cover the need for life insurance and how should one calculate the amount of insurance cover you need to take.
Other insurance coverages in your financial plan9:32
Apart from life insurance, you need to protect your and your family’s health. You will need to insure your home and car as well.
In this lecture, we look at various other kinds of insurance and the appropriate coverage for you to protect yourself from a severe financial crisis.
Knowledge Check - Insurance in your financial plan

Financial planning for life events - getting married & raising a family13:54
People marry for love. Marriage results in a couple entering a financial relationship as well. Therefore the financial and emotional dimensions of marriage need careful planning.
Having kids changes life forever – for the better. It leads to a new set of responsibilities for a long duration.
In this lecture, we look at various financial planning decisions before and after marriage and when having a child to face the events with delight.
Financial planning for life events - Funding kids' education13:49
Most parents find funding a child’s college education as one of the most challenging tasks. It becomes all the more difficult as parents simultaneously save for other goals as well.
In this lecture, we discuss the steps you need to take to make this whole task more manageable.
Financial planning for life events - Buying a house11:15
Homes not only shelter us but also is a means of rewarding our distinctive desire of calling a place our own. Homeownership also involves an enormous amount of investment and is most likely the single most significant financial investment that you will make.
In this lecture, we look at ways and means of carefully planning towards this significant life event.
Financial planning for life events - Starting your own business6:35
Many of us view entrepreneurship as an attractive career option. It could be due to a business idea that you want to explore, or because you want to be your boss or because you want to see if you can succeed on your own. Whatever be your reason, you need to be certain about the sequence of events to follow as you gear up for the change.
In this lecture, we discuss various aspects that you need to consider before pledging yourself to the journey.
Financial planning for life events - Planning for retirement35:34
Retirement planning as a goal often gets put on the back burners in place of immediate financial goals and demands. In order to have enough resources to enjoy a financially comfortable retirement period, it is crucial to plan for this event well in advance.
In this lecture, we help you understand various retirement planning considerations, help you estimate your retirement expenses and calculate your post-retirement corpus needs as well as guide you on investment avenues to help build the corpus.

Requirements

None whatsoever, however keen desire to take charge of your own finances would help

Description

Whether you are an already active investor or a newbie at managing your own money, you need financial planning. According to numerous surveys, people who follow a financial plan are likely to accumulate twice the amount at the time of retirement as compared to people who don’t.

Financial planning helps you build your personal roadmap to meet your life’s money goals. Whatever your wealth goal may be, planning increases the probability of you meeting those financial goals.

In this course, you will learn how to create your own financial plan that can enable you to be financially ready for important life events. The course is written for learners from India but the concepts are universal and can be applied irrespective of where you live or invest. We have included many worksheets you can download and keep using as you begin your financial planning.

The course walks you through a step-by-step learning path that starts with a discussion about basic concepts. Once you understand the basic concepts, we take you through the steps involved in planning your financial future. After building a financial plan, it's time to then put it into action.

The last section in the course is where we work through preparing ourselves financially for important milestones in your life like marriage, house purchase, and providing for your kid’s education. All in all, this single course will give you complete insights into the entire financial planning process and give you a good starting point for your financial planning journey.

Who this course is for:

Young Indian professionals who are starting their financial journey
Anyone who is ready to take charge of own financial life
Anyone who is new to personal financial planning
The courses uses currency, data and examples from India. Learners from other countries should purchase this course only if they are okay with this.

Money Matters : Financial Planning Primer

What you'll learn

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Course content

Getting started4 lectures • 29min

Investment planning to build wealth6 lectures • 1hr 17min

Protecting your financial life through insurance2 lectures • 25min

Financial planning for life events5 lectures • 1hr 21min

Bringing it all together1 lecture • 3min

Requirements

Description

Who this course is for: