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Syllabus
Personal financial literacy is the ability to read about, analyse, manage, and communicate the personal financial conditions that affect your material well-being. It includes the ability to make financial choices, discuss money and financial issues, plan for the future, and respond competently to life events that affect everyday financial decisions, including events in the general economy.
The course was designed to address the fact that a growing number of people lack knowledge of the basic personal economics they need to make informed financial judgments and manage their money effectively. The Financial Literacy course meets seven of the eight elements noted by the Department of the Treasury’s Office of Financial Education (OFE) for a successful financial education programme. ALISON was represented at the Financial Literacy National Strategy meetings held in Washington D.C., and has taken care to include the recommendations of those meetings in developing this syllabus.
Course Reviewers
Course content was reviewed by Kirk Okumura. Mr. Okumura is an author and editor for the LUTC (Life Underwriter Training Council) Program at The American College. His responsibilities include writing study materials for courses, including textbooks and moderator classroom guides.
Scott Stapf, of the Alliance for Investor Education and the International Forum for Investor Education reviewed specific modules of the course.
Kraig Kast, CEO of Atherton Trust reviewed certain modules.
The course was also reviewed by the Society of Financial Service Professionals (FSP).
The course is currently being piloted and evaluated by the Three Rivers Workforce Investment Board at two sites in Pittsburgh, PA.
Syllabus Financial Literacy
Module 1: Introduction to Personal Finance
1.1.0 Introduction
1.1.1 Checking Accounts
1.1.2 Short-Term Savings Products
1.1.3 Credit
1.1.4 Summary
1.2 Managing Your Money
1.2.0 Introduction
1.2.1 Money Management Tasks
1.2.2 Matching Product Features to Tasks
1.2.3 Comparison with Cash Management
1.2.4 Summary
1.3 Budgeting
1.3.0 Introduction
1.3.1 Why Use Budgets?
1.3.2 Creating a Budget
1.3.3 Using a Budget
1.3.4 Dealing with a Debt in a Crisis
1.3.5 Summary
1.4 Module Quiz
Module 2: Mastering Personal Finance
2.1 Identifying and Prioritising Needs and Goals
2.1.0 Introduction
2.1.1 The Hierarchy of Financial Goals
2.1.2 What’s Needed When?
2.1.3 Expected and Unexpected Events
2.1.4 Summary
2.2 Factors that Influence Financial Planning
2.2.0 Introduction
2.2.1 Guiding Principles
2.2.2 Range of Products
2.2.3 Personal Factors
2.2.4 External Factors
2.2.5 Summary
2.3 Planning in Practice
2.3.0 Introduction
2.3.1 Emergency Fund
2.3.2 Managing Debt
2.3.3 Insurance and Protection
2.3.4 Short-Term Saving
2.3.5 Summary
2.4 Reviewing and Revising
2.4.0 Introduction
2.4.1 Review a Financial Plan
2.4.2 Summary
2.5 Module Quiz
Module 3: Employment
3.1 Employee Wages and Benefits
3.1.0 Introduction
3.1.1 Employee Wages
3.1.2 Employee Benefits
3.1.3 Summary
3.2 Your Pay Stub
3.2.0 Introduction
3.2.1 Pay Stub
3.2.2 Summary
3.3 Taxation and Government Benefits
3.3.0 Introduction
3.3.1 Taxation
3.3.2 Calculating Tax
3.3.3 Government Benefits
3.3.4 Summary
3.4 Module Quiz
Module 4: Running a Home and Raising a Family
4.1 Rent or Buy?
4.1.0 Introduction
4.1.1 Renting Accommodation
4.1.2 Buying a Home
4.1.3 Summary
4.2 Home-related Insurance and Bills
4.2.0 Introduction
4.2.1 Homeowners Insurance
4.2.2 Saving Energy, Saving Money
4.2.3 Summary
4.3 Planning for Children
4.3.0 Introduction
4.3.1 Resources for You and Your Baby to Be
4.3.2 Budgeting for Education
4.3.3 Encouraging Children to be Financially Capable
4.3.4 Summary
4.4 Module Quiz
Module 5: Long-Term Saving and Investment
5.1 The Nature of Long-Term Goals
5.1.0 Introduction
5.1.1 Inflation
5.1.2 Risk
5.1.3 Summary
5.2 Long-Term Investments
5.2.0 Introduction
5.2.1 Shares and Bonds
5.2.2 Packaged Investments
5.2.3 Summary
5.3 Retirement
5.3.0 Introduction
5.3.1 Social Security
5.3.2 Planning for Retirement
5.3.3 Retirement Plans
5.3.4 Summary
5.4 Module Quiz
Module 6: Seeking Help and Advice
6.1 Keeping Informed
6.1.0 Introduction
6.1.1 Types of Background Information
6.1.2 Summary
6.2 Sources of Advice
6.2.0 Introduction
6.2.1 Range of Sources
6.2.3 Summary
6.3 Complaints
6.3.0 Introduction
6.3.1 Consumers' Rights
6.3.2 Making a Complaint
6.3.4 Summary
6.4 Module Quiz
Module 7: The Global Economy
7.1 Markets
7.1.0 Introduction
7.1.1 The Fed and the Foreign Exchange Market
7.1.2 Stock and Commodities Markets
7.1.3 Summary
7.2 Choices and Impositions
7.2.0 Introduction
7.2.1 The World as a Global Economy
7.2.2 Social and Moral Dilemmas
7.2.4 Summary
7.3 Module Quiz
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