Courses developed by Bellevue Community College
Covering the full breadth of financial education topics, with engaging hands-on activities incorporating stories of the learners, using in-class or online modalities to deliver one to ten sessions as required by your learners.
Bellevue Community College has developed eight financial education courses that can be tailored to the educational institution, workplace, social service agency, or for presentation to community and religious groups. The eight courses are personal money management, saving, credit, taxes, risk management, real estate, investments and employee benefits. The outcomes of these courses are to instill in the learner the behaviors that constitute good personal financial management. These courses can be tailored to populations of learners in a various formats from one 90-minute session to eleven hourly in-class sessions. Individuals can receive BCC college credit for completing them.
The curriculum for these courses was developed with the support of the Investor Protection Trust and the Washington State Department of Financial Institutions and is available free. We invite educators to join our educator forum on financial literacy so that we can improve the delivery of this vital education to our state.
For more information, contact Molly Blume firstname.lastname@example.org.
Personal Money Management
Personal money management focuses on managing personal income and expenses and their recordkeeping. Learners will be required to develop a personal budget and compile personal income statements.
Cash flow management
Comparative household expenses
The financial evaluation of alternatives
Personal income statement – budget against actual
Accounting and bookkeeping of personal expenses
Keep receipts and track expenses for one month to compile personal income statement by categories used by the Consumer Finance Survey
Look for opportunities to save money – teach strategies for comparison pricing, getting bids, etc.
Create a personal budget for the year
Create a system for tracking expenses against budget including credit card monitoring and check book balancing
Savings; the banking industry and its products and services; savings returns, and evaluating alternative savings vehicles are the focus of this course. Learners will be able to create an annual budget, set financial goals and determine the risks and returns of various savings vehicles. They will create a personal net worth statement.
The banking industry and its products and services
Annual personal budget
Long-term financial goals
Investment risks (volatility and inflation)
Time value of money (present value and future value)
Economic and financial evaluation of alternatives
Net worth statement
Differentiate between annual budget and long term financial goals
Discuss and quantify major financial goals such as car, education, retirement
Have each learner come up with individual long term financial goals
Assess the risk associated with each of these goals (inflation)
Determine how much has to be saved annually to achieve these goals using the time value of money
Review several types of bank accounts (marketing brochures or review on the internet)
Evaluate which is the best account for expenses and savings
Calculate the cost (in annual percent) of insufficient funds or other bank fees
Creating a net worth statement
Credit focuses on the evaluation of the credit industry and its consumer products and services. Learners will evaluate alternate credit and loan features. They will learn strategies for debt management.
Credit and loan industry
Legal aspects of credit
Comparative evaluation of credit instruments
Credit ratings and their impact
Time value of money (future and present)
Calculation of annual returns
Evaluate “buy” messages analytically and critically
Differentiate between rational (cognitive) and emotional (affective) buying motives
Differentiate between ethical and unethical marketing practices.
Compare cash price to installment price in order to make a purchasing decision
Determine periodic payment, interest and total amount required to pay to amortize a loan
Calculate finance charges on credit card balances and cash advances
Identify consumer assistance services provided by the public and private organizations (e.g. government, the Better Business Burea and manufacturers)
Research consumer advocacy groups that address consumer right and responsibilities and describe how an individual can participate
Analyze various sources and types of credit and related costs
Select an appropriate form of credit for a particular buying decision
Compare and contrast the various aspects of credit cards (e.g. APR, grace period, incentive buying, methods of calculating interest and fees)
Explain credit ratings and credit reports and describe their importance to consumers
Describe the relationship between credit rating and cost of credit
Recognize the signals of a credit problem
Compare and contrast the legal aspects of different forms of credit (e.g. title transfer, responsibility limits, collateral requirements and co-signing)
Describe legal and illegal types of credit that carry high interest rates (e.g. payday loans, rent-to-buy agreements and loan sharking)
Identify the components listed on a credit report and explain how the information is used.
Taxes deal with individual tax filing, tax planning and maximizing after-tax returns.
US taxation system--tax returns, withholding, tax credits, tax refunds, tax payments, tax penalties
Filing tax returns
Pre-tax spending accounts
Tax-advantaged retirement accounts (IRAs, 401Ks, Roth IRAs)
Prepare a tax return
Engage in tax planning
Calculate benefits of pre-tax spending accounts
Calculate the difference between after-tax and pre-tax returns on retirement accounts
Evaluate eligibility for Earned Income Tax Credit and tax credits for 401K (low income) and their effect on savings
Evaluate strategies for maximizing after-tax returns
Personal Risk Management
Personal Risk management focuses on the insurance industry and its products. The learner will evaluate personal insurance needs.
Insurance (Property, auto, renters) – Deductibles, limits, etc.)
Life insurance (term, whole life, variable annuities and how they work)
Health insurance and how it works (Deductibles, copays, etc.)
Long term care
Medicare and Medicaid
Analyze personal risk and determine methods of mitigating this risk
Evaluate various forms of life insurance and their benefits and costs
Prepare personal information for appropriate insurance quotes – Evaluate three quotes for property insurance
Evaluate the differences in risk between three or more health insurance packages
Analyze risk management case studies
Articulate the resources available under Medicare and Medicaid
Personal Real Estate
Personal Real Estate will cover the single-family house and mortgage market. Learners will review the home buying and mortgage application process.
Single-family real estate in the US
Historical returns on single-family real estate
Evaluating the single-family homes as an investment
Interest rates and how they work.
Mortgage maturity and risks.
Mortgage payment calculation.
The home buying process
Evaluate case study between buying and renting including investment and tax benefits
Articulate rights in the home buying process
Review home buying programs
Articulate steps in the home buying process and risks in each step
Financial evaluation of various mortages (fixed rates, APR, variable rates, interest only, terms, points, etc. )
Calculate the effect of brokers’ fees, title insurance, inspections and lawyers fees on a home purchase
Evaluate the effect of interest rates on mortgages
Investments will focus on financial goals, historical risk and returns of major asset classes, asset allocation, maximizing after-tax returns and monitoring investments.
Personal Financial goals
Maximizing after-tax returns
Evaluate budget versus long-term financial goals
Articulate personal financial goals
Differentiate between asset classes, their characteristics, and their historical returns and risk
Articulate how asset allocation is done
Assess Mutual funds, index funds, ETFs
Evaluate case studies of traditional IRAs, Roth IRAs, 401Ks and other tax-advantaged savings
Evaluate investment returns versus cost of debt
Evaluate investments against indices
Employee Benefits for Personal Finance
Employee benefits outlines basic benefits offered by firms. Learners will become familiar with what these benefits achieve and how to use them for long-term financial planning.
Dependent Care and Health Care Spending Accounts
Retirement (401K, profit sharing, pensions)
Review a social security summary statement and evaluate how benefits are computed.
Determine how unemployment benefits are given.
Describe major employee benefits (medical, disability, life, etc.) and what they cover
Analyze a case study of health insurance and determine relevant costs
Evaluate the differences in risk between three or more medical insurance packages
Taking the employer’s perspective design an employee benefits package using relevant components – calculate the cost to the employer and the benefit to the employee
Evaluate the financial benefits of spending accounts
Calculate the after-tax benefit to the employee of 401K, profiting sharing or pension benefits
Garman et al., (2005, March 22) Financial Distress Among American Workers - Final Report: 30 Million Workers in American--One in Four--Are Seriously Financially Distressed and Dissatisfied Causing Negative Impacts on Individuals, Families, and Employers, Independent report from the authors that is available at www.EthomasGarman.net.
Kim, J. (2004) Impact of a Workplace Financial Education Program on Financial Attitude, Financial Behavior, Financial Well-Being and Financial Knowledge.
Hilgert, M. and Hogarth, J. (2003) Household Financial Management: The Connection between Knowledge and Behavior
Joo, S. and Garman, T. (1998) The Potential Effects of Workplace Financial Education Based on the Relationship between Personal Financial Wellness and Worker Job Productivity
Garman, T. (1997) Personal Finance Education for Employees: Evidence On The Bottom-line Benefits.
Bernheim, B. and Garrett, D. (2003) The effects of financial education in the workplace: evidence from a survey of households
Bayer, P., Bernheim, B. and Scholz, J., (1996) The Effects of Financial Education in the Workplace: Evidence from a Survey of Employers
Lusardi, A. (2004) Saving and Effectiveness of Financial Education
EBRI (2006) The 2006 Retirement Confidence Survey
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Last updated: 1/12/07