Personal Finance For Beginners | Financial Planning 101

Name: Personal Finance For Beginners | Financial Planning 101
Rating: 4.9 (45 reviews)

Building a Solid Financial Future through Fundamental Money Management | Personal Finance Mastery : Financial Planning

Highest Rated

Created byCiera Dorsey, Becky J Martin, Wamm Financial Solutions

Last updated 11/2024

English

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What you'll learn

Understand the importance of managing money, saving for the future, managing debt, and estate planning, with different starting points and priorities
Understand the importance of long-term savings and accumulation for retirement, emphasizing the need to save and accumulate for the long term.
Understand the significance of controlling the retirement flag and the impact of having money outlive us.
Learn the objective of climbing mountains, emphasizing that getting to the top is important, but getting to other side is equally important.
Understand the need for tax-free accounts to protect savings, paychecks, and livelihoods
Understand the importance of having a passive income to live a satisfying retirement lifestyle without checking email or business updates
Understand the importance of having an emergency fund and a 6-month timeframe for saving for emergencies
Understand the process of removing a negative item from a credit report by changing the address of the negative account and freezing the secondary agencies.
how to determine if a person's credit profile is ready for funding by checking their credit profile, including open accounts, payment history etc.

Course content

1 section • 11 lectures • 1h 10m total length

part1 Wealth Building Goals- Financial Planning7:17
Define your financial blueprint by balancing short-term and long-term savings, tax buckets, and protections. Learn how to diversify with taxable, tax-deferred, and tax-free accounts.
part2 Getting to Top of Mountain2:58
Compare your long-term savings to mountain climbing, emphasizing the bigger picture and the full journey from pre-retirement to reaching the other side of retirement.
part3 Savings for Pre-Retired Life4:35
Focus on long-term savings during the pre-retirement phase to accumulate funds for a comfortable distribution, while considering legacy and choosing between taxable and tax-deferred accounts.
part4 Infinite Banking- Benefits of Life Insurance10:22
Explore infinite banking via whole life insurance, unlocking cash value, loans, and a living benefit with a permanent death benefit. See how tax-free options and protections diversify your retirement plan.
part5 Retirement- What's Difference?Savings for Wealth and Finance10:37
Explore what retirement means, ways to achieve passive income and generational wealth, and how early saving turns time into wealth with an emergency fund and a solid financial blueprint.
part6 Credit Repair 101 Secondary Agency Addresses4:53
Start credit repair with Identity IQ, update your address to separate negative and positive accounts, restrict secondary agencies, and send FCRA letters to bureaus while filing CFPB/BBB complaints if needed.
part7 Credit Repair 101 breaking down a credit report7:42
Learn how to read a credit report from Identity IQ, verify personal details for accuracy, spot violations, and interpret open accounts, delinquencies, collections, and inquiries to guide credit planning.
part8 Credit Repair 101 What letters to use to remove items from report2:32
Draft a basic 609 letter to dispute items with TransUnion, Equifax, and Experian, and use a method of verification letter under 15 U.S.C. to verify the account.
part9 Credit Repair 101 Personal Funding1:47
Explore personal funding by securing rounds of credit from banks to obtain auto loans, mortgage loans, and cards, and assess readiness with IdentityIQ.
part10 Credit Repair 101 how to buildout your credit report for funding16:01
Build a strong credit report using a mix of revolving and installment loans, secured pledge loans, secured credit cards, trade lines, and rent reporting to unlock funding.
part11 BONUS2:14
Connect with a full-service financial team that learns your current situation, builds a relationship, and creates an efficient plan with annual check-ins and access to a network of consultants.

Requirements

No requirements just be ready to learn start your journey to financal freedom.

Description

The Personal Finance For Beginners | Financial Planning 101 course is designed to empower individuals with the essential knowledge and skills needed to effectively manage their personal finances. In today's complex financial landscape, it is crucial to have a solid foundation in financial planning to achieve financial stability and reach long-term goals.

This course serves as an introductory guide, providing comprehensive insights into the key concepts and strategies of personal finance. Students will learn wealth building strategies, credit repair tactics, and funding secrets. Additionally, they will explore the importance of saving, investing, and managing money wisely.

Through interactive lessons, real-life examples, and practical exercises, participants will gain a clear understanding of various financial instruments, such as mutual funds, and retirement accounts. They will also delve into the fundamentals of risk management, insurance, and estate planning.

The course emphasizes the development of personalized financial plans tailored to individual goals and circumstances. Students will learn how to set achievable financial objectives, plan for major life events, and build an emergency fund. Moreover, they will discover effective strategies to enhance their credit scores and manage taxes efficiently.

By the end of this course, students will possess the necessary tools to make informed financial decisions, establish a strong financial foundation, and embark on a path towards financial well-being. Whether you are just starting your financial journey or seeking to improve your financial management skills, this course is an invaluable resource to help you take control of your financial future.

Who this course is for:

This course is for everybody, beginners and ones who are very knowledgeable.