BA 240 - Personal Financial Planning

Institution:

Mount Mercy University

Subject:

Description:

This course examines basic financial skills which each of us must develop over our lifetime. Personal financial statements, calculating net worth, cash management tools, wise use of credit, and managing credit card debt are explored first. Also included is an overview of the federal tax system, tips to minimize the "tax bite", tax-deferred savings plans [IRA's and 401(k)] and personal investing strategies fostocks, bonds, and mutual funds. In addition, topics will include the benefits of home ownership (tax savings and appreciation), use of escrow accounts, the benefits of mortgage and home equity debt, and the services a real estate broker can provide. The course also explores a variety of insurance products available (term life, permanent life, auto, medical), social security and retirement benefits, the basic provisions of a will, the use of trusts, and how to minimize gift/ estate/ inheritance taxes. The course may not be applied to any major or minor within the Business Administration Division.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.mtmercy.edu

Phone Number:

(319) 363-8213

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Four-one-four plan

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