BUS 103 Personal Savings • 1 Cr.
Part of a series of courses that present core components of personal finance applicable to individuals and financial service workers. Savings, the banking industry and its products and services, savings returns, and evaluating alternative savings vehicles are covered. Students create an annual budget, set financial goals and determine the risks and returns of various savings vehicles, and create a personal net worth statement.
After completing this class, students should be able to:
- Discuss how savings goals contribute to financial well-being
- Evaluate savings alternatives, including their risks, fees and penalties
- Create savings plans
- Explain how the time value of money can aid in achieving goals
- Create a net worth statement and describe its importance in the financial planning process
- Explain why some government and employer programs (e.g., IRAs, 401Ks) are tax-advantageous