Personal Financial Management
Detailed Curriculum

A 6 week seminar for Chapman University staff and faculty on personal financial management will be offered this fall.  The course will include such topics as: budgeting, banking, borrowing, buying and saving.

Jointly offered by the Hoag Center for Real Estate and Finance and Human Resources, with co-sponsorship by Consumer Credit Counseling Services of Orange County:

• 6 weekly sessions: Thursdays 4:00 pm to 6:00 pm beginning September 24th
• Classes at Chapman University Orange Campus – Room TBD
• Cost is free to Chapman staff and faculty

Hoag Center Director: Jack Broughton, Argyros School of Business and Economics; broughto@chapman.edu

Human Resources: Becky Campos, Vice President; bcampos@chapman.edu

CCCSOC: Kelly Rogers, Director of Education; Kelly.rogers@cccsoc.org

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Lesson 1: Money and Taxes

• The concept of money: wants vs. needs, scarcity
• Income: gross income vs. net income
• Income Taxes: tax forms, tax credits vs. tax deductions, marginal tax brackets
• Resources
• Activity: Financial-Planning Checklist

Lesson 2: Financial Paperwork

• The benefit of Filing: list of supplies
• A new Way of Filing
• Emergency folder
• 6 Category filing system: tax records
• Junk Mail
• Resources
• Activity: Getting organized

Lesson 3: Goals

• The concept of developing Goals: Goal Setting (short-term, mid-term, long-term)
• Resources
• Activity: Goal setting (short-term, mid-term and long-term)

Lesson 4: Budgeting

• The concept of a Budget: fixed, flexible and periodic expenses, tracking expenses, making and sticking to a budget
• Resources
• Activity

Lesson 5: Banking

• Types of financial institutions: commercial banks, credit unions
• Banking Services: checking and savings accounts, FDIC and NCUA, check writing, automatic bill pay and direct deposit, ATMs and debit cards
• Resources
• Activity

Lesson 6: Identity Theft

• Why protect yourself: statistics
• How does Identity Theft happen?
• Preventing Identity Theft
• How do you know if you have been a Victim? Recovering from identity theft, credit freeze
• Resources
• Activity: Identity Theft DVD

Lesson 7: Borrowing on Credit

• The Cost of Credit: types of credit, APR, How much to borrow?
• Credit Report: credit reporting agencies, 5 parts of a credit report, how to obtain a credit report, who looks at a credit report?
• Credit Scores: the purpose of the score, how a score is calculated
• Bankruptcy: chapter 7 and 13, the implications of bankruptcy, other options than bankruptcy
• Resources
• Activity

Lesson 8: Saving and Investing

• The importance of Saving: more than one reason to save
• Ways to make saving easier: goals – write them down!, the envelope method, direct deposit, incorporating saving into a budget
• Types of saving investments: the change jar, saving accounts, money market accounts, certificate of deposit, bonds (savings, municipal, corporate, treasury, government), treasury bills/notes, mutual funds, stocks, 529 College Savings Plans
• Retirement savings: social security benefits, 401(k), 403(b), annuity plans, individual retirement accounts (IRAs and Roth IRA)
• Compound interest
• Resources
• Activity: Identity Theft video

Lesson 9: Renters Rights and Home Buying

• Renters rights and responsibilities
• Resources
• Activity

Lesson 10: Home Buying

• Renting vs. Buying: the up-front costs of purchasing a home
• The Important People: real estate agent, lender, escrow officer
• Types of Mortgages: major types of home mortgages, important lending terms buyers need to know
• Escrow and Closing: preliminary title report, inspection, appraisal, homeowners insurance
  Resources
• Activity: Renting vs. Buying Worksheet or Buying a 2nd Property Worksheet

Lesson 11: Car Buying and Leasing

• Can I afford to buy? The costs of a car and fitting it into a budget
• Types of financing for car purchases
• Leasing vs. Owning
• Warranties and service contracts
• “Green” Cars – does it save or cost
• Resources
• Activity: Negotiating a Purchase or Lease

Lesson 12: Insurance

• Basic insurance terminology
• Types of insurance: health insurance, disability insurance, homeowners insurance, renters insurance, auto insurance, life insurance, umbrella
• Insurance you do not need
• Resources
• Activity: Do I have enough insurance?

Lesson 13: Estate Planning

• What is estate planning: estate planning check list
• Intestacy
• Letter of instruction
• Will and trusts: revocable trust (living trusts), irrevocable trusts
• Advanced Directives
• Resources
• Activity: Letter of Instruction

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