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Financial Planning for Young Adults

University of Illinois at Urbana-Champaign via Coursera

4 Reviews 7076 students interested
  • Provider Coursera
  • Subject Finance
  • Cost Free Online Course (Audit)
  • Session Upcoming
  • Language English
  • Certificate Paid Certificate Available
  • Effort 5-6 hours a week
  • Start Date
  • Duration 4 weeks long
  • Learn more about MOOCs

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Overview

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Financial Planning for Young Adults (FPYA), developed in partnership with the CFP Board, is designed to provide an introduction to basic financial planning concepts for young adults. The FPYA course is organized across eight separate modules within a 4-week window. Topics covered include financial goal setting, saving and investing, budgeting, financial risk, borrowing and credit. Because financial planning is such a personal topic, you will be encouraged to define your own financial goals and objectives while we discuss concepts and provide tools which can be applied in helping you reach those goals.

Within each module, you will view a combination of traditional lecture style videos along with video vignettes that introduce financial topics for discussion among participants. The video vignettes provide a unique and exciting component to this course. Each vignette introduces a real-world scenario where financial decisions must be made and financial planning concepts can be applied. You will be challenged to think critically about each scenario and decide how you might come to a resolution if ever faced with a similar situation.

Finally, the course also includes material throughout which is focused on career opportunities in financial planning, including video interviews with actual CFP® professionals and other professionals working in this exciting and growing career area. The final module in the class is devoted to the topic of financial planning as a career.

Syllabus

Orientation


Module 1: Setting Financial Goals and Assessing Your Situation
In this module, you'll explore the "personal" in personal finance, use financial tools to assess where you are currently with your finances, and begin setting goals for where you'd like to be in the future.

Module 2: Budgeting and Cash Flow Management
In this module, we will discuss the importance of budgeting in the financial planning and management process, and resources available for cash flow management. Learners will be exposed to the basic process of budgeting, a panel discussion with practicing investment advisors, and a comparative discussion of the more common tools and methods for managing cash flows.

Module 3: Saving Strategies
In this module you'll have the opportunity to explore best practices for building a saving habit and discuss barriers to saving. Mental accounting will be introduced and considered in terms of how it can affect saving behavior.

Module 4: The Time Value of Money
Understanding why the time value of money is a very important concept -- so important it has its own module!

Module 5: Borrowing and Credit
The ability to use debt and credit to finance purchases has its advantages and disadvantages. Understanding topics related to loan repayment and how your borrowing and credit use behavior may impact your credit report is critical for being able to have access to debt and credit use in the future.

Module 6: Investing
In this module you'll be introduced to investment terms and key investment strategies. This foundation will allow you to better understand investment choices and information that you'll encounter throughout your life.

Module 7: Risk Management
This module covers risk related topics related to insurance, and introduces learners to the concept of personal risk tolerance and how it might impact individualized risk management strategies.

Module 8: Financial Planning as a Career
The module provides an overview of the career opportunities in financial planning. You will get to see what it is like to engage and assist people (clients) from a variety of walks-of life. This module is optional in terms of completion of the course certificate. There is no required assignment in this module.

Taught by

Kathryn Sweedler, Nicholas Paulson and Charles Chaffin

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Reviews for Coursera's Financial Planning for Young Adults
5.0 Based on 4 reviews

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  • 1
Mary L
5.0 a month ago
Mary completed this course.
I love it!! It explains how we can improve our personal finances and the expenses we need to be aware of to have a better life.
Was this review helpful to you? Yes
Salvador A
5.0 a year ago
by Salvador completed this course, spending 3 hours a week on it and found the course difficulty to be very easy.
I just finished this course yesterday (excluding the last optional module). What this course does is it walks you through reflecting on your dreams and what's important to you, to setting realistic goals (both short-term and long-term) and how you can go about achieving them. It expounds on why you should do these things while/if time is still on your side, i.e. if you are within the "young adult" category #timevalueofmoney (but people from all ages can find something of value here).

Everything is easily digestible. It introduces you to basic concepts; some formulas were given but you're not required to answer a lot of computation questions involving them (that may either be a good thing or a bad thing depending on your purposes for taking this course). It's perfect for laypersons. Overall, it's a good introduction/overview, esp to people who are just starting out with their adult lives.
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Rajesh R
5.0 2 years ago
by Rajesh completed this course.
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Boyersfamof6@yahoo.com B
5.0 3 years ago
by Boyersfamof6@yahoo.com is taking this course right now.
0 person found
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