This course applies the six step financial planning process to basic financial planning scenarios. Topics include setting goals, net worth and cash flow management, debt management and calculation of mortgage financing options. Savings and investment products are covered as well as the essentials of RRSPs, TFSAs, government benefit programs, and personal insurance. Taxation as it relates to long term personal financial planning is covered at an introductory level. In addition, an overview of the products and services available to individuals and businesses through financial institutions will be covered.
- Introduction to financial planning.
- Introduction to personal income tax.
- Calculating saving and investing requirements to reach goals.
- Overview of financial products and services.
- Insurance products and planning.
- Government programs including OAS, CPP, GIS, RRSP and TFSAs.
- Retirement planning.
- Consumer credit rating, debt management and mortgages.
- Wills and estate planning basics.
- Legal and ethical conduct in the financial services industry.
Methods of Instruction
Material will be presented within a lecture/discussion environment.
Means of Assessment
|Term Tests and Quizzes (4-6)
Upon successful completion of this course, students will be able to:
- develop financial planning goals;
- prepare personal financial statements (including a personal budget, cash flow statement, and statement of net worth);
- incorporate basic knowledge of personal income tax in financial planning decisions;
- consider and calculate various types of personal insurance needs and coverage options;
- describe and recommend relevant products and services available from financial institutions;
- describe and recommend general investment options (saving accounts, stocks, bonds, mutual funds, etc.) and types of accounts and their features for wealth management;
- conduct a financial analysis of renting versus buying a house;
- calculate and recommend strategies to achieve retirement and estate planning goals; and
- demonstrate in a responsible and accountable manner the legal, ethical and social parameters of the financial industry.
(FINC 1231 or FINC 1230 or MATH 1125 or approved substitute) or MATH 1120 with permission of instructor, or currently active in PDD Financial Planning.
Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester/year of the course, consider the previous version as the applicable version.
Below shows how this course and its credits transfer within the BC transfer system.
A course is considered university-transferable (UT) if it transfers to at least one of the five research universities in British Columbia: University of British Columbia; University of British Columbia-Okanagan; Simon Fraser University; University of Victoria; and the University of Northern British Columbia.
For more information on transfer visit the BC Transfer Guide and BCCAT websites.
If your course prerequisites indicate that you need an assessment, please see our Assessment page for more information.