Watch Money Management Skills

Name: Money Management Skills
Released: 2014-12-15
Cast: Michael Finke

2014
1 Season

Money Management Skills is a course from The Great Courses Signature Collection that focuses on helping individuals make better financial decisions and manage their money effectively. It stars Michael Finke, a leading expert in financial planning and investment, who provides insightful guidance on a variety of personal finance topics. The course is divided into 12 lectures, each covering a different aspect of money management. In the first lecture, Finke explains the importance of setting financial goals and developing a plan to achieve them. He discusses the different types of financial goals and offers strategies for prioritizing them based on individual needs and circumstances. In subsequent lectures, Finke covers a range of topics, including budgeting, saving and investing, debt management, retirement planning, and estate planning. He helps students understand the benefits and drawbacks of various financial products, such as stocks, bonds, and mutual funds, and offers tips for building a diversified investment portfolio. One of the strengths of this course is its emphasis on behavioral finance, which explores how human psychology affects financial decision-making. Finke explains common behavioral biases, such as overconfidence and fear of loss, that can lead people to make poor financial choices. He offers practical advice for overcoming these biases and making more rational, informed decisions. Another notable feature of the course is Finke's focus on the long-term perspective. He stresses the importance of developing a financial plan that takes into account an individual's entire life cycle, from early adulthood to old age. He encourages students to think about their goals for different stages of life and to make strategic financial decisions that will help them reach those goals. Throughout the course, Finke uses real-world examples and case studies to illustrate key concepts and principles. He also provides practical tools and resources that students can use to implement his advice, such as budgeting worksheets and retirement planning calculators. Overall, Money Management Skills is an excellent course for anyone looking to improve their financial literacy and make more informed financial decisions. Finke's engaging teaching style, combined with the breadth and depth of the material, make this course a valuable resource for people of all ages and financial backgrounds. Whether you're just starting out on your financial journey or you're a seasoned investor, you're sure to find something of value in this course.

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Seasons

12. Putting Your Financial Plan Together

December 15, 2014

Wrap up the course by building a solid and realistic financial plan. You'll learn how to set up a cash-flow statement, prepare a budget for future expenditures, and make a balance sheet for your estate planning process. Then, apply the fundamentals of this course to achieving your financial goals.

11. Fundamentals of Estate Planning

December 15, 2014

The goal of estate planning is to prepare your financial affairs to save your relatives from a confusing mess of assets, liabilities, and property transfers after you've passed. Here you'll discover a roadmap for sorting out your affairs, setting up trusts for your assets, and creating a plan for your end-of-life care options.

10. Saving for Retirement

December 15, 2014

When should you retire? And how do you save enough to ensure that you're financially covered for the future? This lecture demystifies the retirement savings process with continuing guidance from the life cycle theory of managing money. Explore the different investment options at your disposal - including 401(k)s, IRAs, and annuities - and build a strategy for retirement.

9. Essential Tax Principles

December 15, 2014

No discussion of finances can evade the topic of taxes. In this lecture, Professor Finke provides a clear and concise overview of the U.S. income tax system: how our income is taxed, as well as the myriad credits and deductions that are available. His discussion also includes payroll and state taxes, as well as other taxes the average American pays.

8. Managing Risk with Insurance

December 15, 2014

Insurance is really about "risk management." The world abounds with perils, and insurance is about estimating the probability of a loss and weighing the cost of insurance versus potential out-of-pocket expenses. Fortunately, some elementary principles help guide you toward critical coverage and help you avoid less beneficial policies.

7. The Economics of Home Ownership

December 15, 2014

After education, home ownership might be the most important financial decision we make in our lifetimes. Is home ownership really a great investment? When should you buy a house versus renting? Examine these questions as well as the basics of obtaining a mortgage. Key considerations include types of loan, mortgage insurance, points, and taxes.

6. Investing in Education

December 15, 2014

Most economists would agree that education offers one of the highest returns of any investment; however, paying for college often involves taking on student loans. Whether you're a high school student or a parent preparing to pay for your child's tuition, learn the key risks of student loans, and see what tax advantages you might apply toward a college education.

5. How to Use Credit Optimally

December 15, 2014

Debt can be intimidating, but when used appropriately, it is a powerful tool. Psychology plays a key role when we take on debt, so it is important to recognize bad habits such as impulsiveness. After getting an overview of credit and credit history, you'll survey the variety of loans available, from credit cards to auto loans to mortgages.

4. The Key Financial Instruments

December 15, 2014

Tour the range of investment options, from liquid assets such as cash and checking accounts to long-term assets such as mutual funds, stocks, and bonds. See what fees and returns you can expect from each type of instrument - and what tax obligations you may incur. Then build a strategy of investment for the long haul.

3. Basic Investing - Keep It Simple

December 15, 2014

You don't have to be a financial guru to make wise investment choices. In fact, as you will learn in this lecture, a few basic rules of thumb are all most of us need to make solid financial choices. Review the basics of investment and risk, the importance of diversification, and a simple theory for building a profitable investment portfolio.

2. Managing Money with Life Cycle Theory

December 15, 2014

In this lecture, you will reconsider your entire approach to your finances. Life cycle theory is a framework for making financial decisions at different stages in your life, and it offers sound guidance for saving, borrowing, and investing across time. In other words, it's about making sure you get the most out of your money from young adulthood through retirement.

1. Understanding Your Financial Brain

December 15, 2014

Begin your course with an examination of the brain to explore the tension between conscious decision-making and the automatic emotional response of our limbic systems. This tension affects many of our approaches to financial management, including our innate aversion to loss, our tolerance of risk, and our investment confidence. #Literature & Learning

Description

The course is divided into 12 lectures, each covering a different aspect of money management. In the first lecture, Finke explains the importance of setting financial goals and developing a plan to achieve them. He discusses the different types of financial goals and offers strategies for prioritizing them based on individual needs and circumstances.

In subsequent lectures, Finke covers a range of topics, including budgeting, saving and investing, debt management, retirement planning, and estate planning. He helps students understand the benefits and drawbacks of various financial products, such as stocks, bonds, and mutual funds, and offers tips for building a diversified investment portfolio.

One of the strengths of this course is its emphasis on behavioral finance, which explores how human psychology affects financial decision-making. Finke explains common behavioral biases, such as overconfidence and fear of loss, that can lead people to make poor financial choices. He offers practical advice for overcoming these biases and making more rational, informed decisions.

Another notable feature of the course is Finke's focus on the long-term perspective. He stresses the importance of developing a financial plan that takes into account an individual's entire life cycle, from early adulthood to old age. He encourages students to think about their goals for different stages of life and to make strategic financial decisions that will help them reach those goals.

Throughout the course, Finke uses real-world examples and case studies to illustrate key concepts and principles. He also provides practical tools and resources that students can use to implement his advice, such as budgeting worksheets and retirement planning calculators.

Overall, Money Management Skills is an excellent course for anyone looking to improve their financial literacy and make more informed financial decisions. Finke's engaging teaching style, combined with the breadth and depth of the material, make this course a valuable resource for people of all ages and financial backgrounds. Whether you're just starting out on your financial journey or you're a seasoned investor, you're sure to find something of value in this course.