MONEY WISE FINANCIAL COURSE
Introduction to the Course
Purpose
The purpose of this presentation on personal finance is to help you understand that personal finance is not separate from, but simply part of, the gospel of Jesus Christ. This lesson covers six chapters. Our goal is to give you a broad introduction to the many different areas of personal finance, with the hope that you will continue your study to understand better the topics covered in this lesson. The topics are:
- Understanding Financial Principles - Setting Priorities
- Financial Freedom - Living Beneath Your Means
- Saving and Investing: Achieving Financial Independence
- Tax and Long-term Planning - Key Issues
- Major Purchases and Buying on Credit - The Home and Auto Decision
- Having Adequate Insurance - Protecting You and Your Loved Ones
Each lesson should take about an hour to read and an hour to watch the video. I encourage you to fill out the Eight Priorities worksheet as you read and work on setting goals in each area.
Lesson Manual
Please note that this is the only lesson that does not have a specific lesson manual. We recommend you use the High School Course Manual for this course.
Videos
These videos were recorded in February 2013 at the BYU Investment Banking Bootcamp where the MoneyWise seminars are taught twice a year.
The video for each section can be found in its respective chapter.
Other Materials
MoneyWise Packet Day 1 (Chapters 1 & 2)
MoneyWise Packet Day 2 (Chapters 3 & 4)
MoneyWise Packet Day 3 (Chapters 5 & 6)
Eight Financial Priorities Outline
Understanding Financial Principles - Setting Priorities
Learning Outcomes
The four objectives for this chapter are:
- Understand Financial Principles
- Set Priorities
- Communicate Clearly
- Budget Well
Chapter Reading
Please read the chapter on "Understanding Financial Principles – Setting Priorities" (PDF)
Slide Presentation
Please click here for the PowerPoint slide presentation (PPT) for this chapter, or here for the slides as a PDF.
Video
Assignments
Here are the assignments for "Understanding Financial Principles – Setting Priorities"
Tools
Eight Financial Priorities
Key Questions on Money and Family
Additional Materials
Financial Freedom - Living Beneath your Means
Learning Outcomes
The objectives for this section are:
- Financial perspective
- Maximize income
- Reduce spending
- Start saving
- Eliminate inappropriate debt, and
- Bank wisely
Chapter Reading
Please read the chapter on "Financial Freedom - Living Beneath your Means" (PDF)
Slide Presentation
Please click here for the PowerPoint slide presentation (PPT) for this chapter, or here for the slides as a PDF.
Video
Assignments
Here are the assignments for "Financial Freedom - Living Beneath your Means"
Tools
Eliminate Your Debt Schedule
Debt Elimination Spreadsheet with Accelerator
Debt amortization with Prepayment
Additional Materials
One for the Money, Marvin J. Ashton
To the Boys and Men, Gordon B. Hinckley
Saving and Investing: Achieving Financial Independence
Learning Outcomes
The objectives for this section are:
- Financial Perspectives: Spiritual Matters
- Investing Basics: Before You Start
- Investing Steps: The Process
Chapter Reading
Please read the chapter on "Saving and Investing: Achieving Financial Independence" (PDF)
Slide Presentation
Please click here for the PowerPoint slide presentation (PPT) for this chapter, or here for the slides as a PDF.
Video
Assignments
Here are the assignments for "Saving and Investing: Achieving Financial Independence"
Tools
Couples Case Study
Risk Tolerance Test
Roth versus Traditional - Which is Better
Retirement Planning Needs
Additional Materials
Guidelines for Wise Investing - Charles Davis
Recognizing and Avoiding Bad Investments - John W. Hardy
Tax and Long-term Planning - Key Issues
Learning Outcomes
There are six objectives for this chapter:
- Financial Perspectives: Planning
- Learn the Tax Rules
- Credits: First Prize
- Deductions: Second Prize
- Shelters & Savings
- Estate Planning and Wills
Chapter Reading
Please read the chapter on "Tax and Long-term Planning: Key Issues" (PDF)
Slide Presentation
Please click here for the PowerPoint slide presentation (PPT) for this chapter, or here for the slides as a PDF.
Video
Assignments
Here are the assignments for "Tax and Long-term Planning: Key Issues"
Additional Materials
Planning Ahead - The Importance of Wills and Trusts - Steven Dixon
Tax Planning- Dellwyn R. Call
Major Purchases and Buying on Credit - The Home and Auto Decision
Learning Outcomes
This chapter will discuss five topics. They are:
- Financial Perspectives: Avoid Debt
- Building Credit
- Protecting Your Identity
- The Home Decision
- The Auto Decision
Chapter Reading
Please read the chapter on "Major Purchases and Buying on Credit: The Home and Auto Decisions" (PDF)
Slide Presentation
Please click here for the PowerPoint slide presentation (PPT) for this chapter, or here for the slides as a PDF.
Video
We are currently preparing the video for this chapter.
Assignments
Here are the assignments for "Major Purchases and Buying on Credit: The Home and Auto Decisions"
Tools
Home Loan Comparison with Prepayment and Refinancing
Maximum Mortgage Payments for LDS
Additional Materials
I have a Question - Home Ownership - William Berrett
How to Spot a Ponzi
Having Adequate Insurance - Protecting You and Your Loved Ones
Learning Outcomes
We will cover five topics in this chapter. They include:
- Financial Perspectives: Tithing
- Insurance Basics: Three Principles
- Personal Insurance: health, life, and disability
- Property Insurance: home and auto
- Employee Benefits
Chapter Reading
Please read the chapter on "Having Adequate Insurance: Protecting You and Your Loved Ones" (PDF)
Slide Presentation
Please click here for the PowerPoint slide presentation (PPT) for this chapter, or here for the slides as a PDF.
Video
Assignments
Here are the assignments for "Having Adequate Insurance: Protecting You and Your Loved Ones"
Tools
Calculating Life Insurance Needs
Additional Materials
Property, Casualty, and Health Insurance- Terry H. Buckner
Personal Insurance- William S. Bennett