FIN06004 2022 Personal Finance
Full Title
Personal Finance
Transcript Title
Personal Finance
Code
FIN06004
Attendance
N/A %
Subject Area
FIN - Finance
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
€
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
John Gaynor, Kerry Dolan, Maria Scanlon
Programme Membership
SG_BACCO_H08 202200 Bachelor of Arts (Honours) in Accounting
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business
SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting
SG_BBUSJ_B07 202200 Bachelor of Business in Business
SG_BBUSI_C06 202200 Higher Certificate in Business in Business
SG_BBUSB_H08 202200 Bachelor of Business (Honours) in Business
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business
SG_BBUSI_C06 202200 Higher Certificate in Business in Business
SG_BBUSJ_B07 202200 Bachelor of Business in Business
Description
This module aims to introduce students to the main issues surrounding personal financial management, including personal financial planning, personal financial products, debt management, and an appreciation of the regulation of the financial services market. This module aims to introduce students to many of the financial concepts which can be applied in their business careers and provides a foundation for future models.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Explain the financial planning process at a personal level and the different financial life-cycle requirements.
2.
Outline the range of savings, investment, borrowing and pension products available in the market, including the risks attached to them, debt management and the associated taxation treatment.
3.
Apply mathematical techniques to appraise savings, investment, and borrowing options to aid decision-making.
4.
Outline the range of protection/insurance policies available in the marketplace.
5.
Explain how the financial services system in Ireland is regulated and consumers protected.
Teaching and Learning Strategies
This module will be delivered through a combination of lectures, tutorials, case studies, review of financial newspapers, practical discussions and a guest lecture.
Module Assessment Strategies
This subject will be assessed through a continuous assessment during the term and a final written exam.
Repeat Assessments
Repeat assessments may include a repeat continuous assessment and/or a final written exam.
Indicative Syllabus
LO1: Explain the financial planning process at a personal level and the different financial life-cycle requirements.
- Describe the stages of the financial planning process, including assessing personal financial position and calculating an individual's net worth.
- Outline the role of the Personal Financial Advisor.
LO2: Outline the range of savings, investment, borrowing and pension products available in the market, including the risks attached to them, debt management and the associated taxation treatment.
- Current accounts including fintech products, deposit accounts, quoted shares, managed funds, bonds, cryptocurrencies and digital assets, together with the taxation rules applicable to each.
- Property and mortgages, related to both residential and 'buy-to-let', together with appropriate tax treatment.
- Pitfalls that can lead to high debt, prioritising debts, options available to those in debt
- Recognise the need for retirement planning.
- Pensions and the rules that apply to them, including the applicable tax rules.
LO3: Apply mathematical techniques to appraise savings, investment, and borrowing options to aid decision-making.
- Simple interest, compound interest, annuities, present values and future values
LO4: Outline the range of protection/insurance policies available in the marketplace.
- Recognise the need for protection products.
- The main types of protection products.
- Making claims under a protection policy.
LO5: Explain how the financial services system in Ireland is regulated and consumers protected.
- Regulation of financial services in Ireland
- Reporting suspected negligence
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
25 %
End of Semester / Year Formal Exam
75 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Continuous Assessment | Coursework Assessment | Assessment | 25 % | Week 8 | 1,2,3 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final Exam End of Semester Exam | Final Exam | Assessment | 75 % | End of Term | 1,2,3,4,5 |
Full Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Flat Classroom | Lecture | 3 | Weekly | 3.00 |
| Independent Learning | Not Specified | Study, reading, web sites etc | 4 | Weekly | 4.00 |
Total Full Time Average Weekly Learner Contact Time 3.00 Hours
Required & Recommended Book List
Required Reading
2016 An Introduction to Personal Finance
ISBN 1910374636 ISBN-13 9781910374634
2016 An Introduction to Personal Finance
ISBN 1910374636 ISBN-13 9781910374634
Required Reading
2020-03-13 How to Be Good With Money
ISBN 0717186709 ISBN-13 9780717186709
2020-03-13 How to Be Good With Money
ISBN 0717186709 ISBN-13 9780717186709
In today's economy, where one-job careers are increasingly a thing of the past, workplace benefits are increasingly hard to come by, and the achievement of major life goals - like buying a house or starting a family - often depends on your ability to save, it's more important than ever that we understand how to get the absolute most from our money. In How to Be Good with Money, author, TV host and financial planner Eoin McGee shares his complete programme for financial well-being. This book is for anyone wondering how best to spend their money, how best to get out of debt and start saving for the things that really matter to them, and how to look after their financial future and retire early.
Required Reading
2020 Money Doctors
ISBN 1838236104 ISBN-13 9781838236106
2020 Money Doctors
ISBN 1838236104 ISBN-13 9781838236106
Required Reading
tab guide 2022 to money, pensions and tax Tab Taxation Services Ltd
tab guide 2022 to money, pensions and tax Tab Taxation Services Ltd
Module Resources
Non ISBN Literary Resources
Journal Resources
URL Resources
Other Resources
Articles from the business press, magazines etc.
Video case studies as appliable.
Course notes supplied by lecturer.
Additional Information
None