Money Management Skills

Rated 5 out of 5 by from Fantastic ! I immensely enjoyed this course. So nicely presented with appropriate level for depth and breath. These are essentials that is presented by a trusted and educated language . I recommend this to all my friends and whom I know around me . The money well spent and great contribution o the society. Thank you Prof. Finke !
Date published: 2020-10-27
Rated 5 out of 5 by from Great course! A lot of good financial information. I think this is a great base for future advanced financial skills or understanding.
Date published: 2020-10-08
Rated 1 out of 5 by from Could do more harm than good. Not useful to financially sound people and could be down right harmful to others. He started by stating that people are not good at emotionally dealing with money and future decisions. Then goes on about how it is best to magically know your life time average income when you are young. Borrow lots when you are young based on what you hope and wish you will make later. Then save most of you income when you are older. He fully admitted that people do not tend to increase savings rates, alway over estimate how they will do better and be better in the future, than recommends that people plan in a way that he previously explains is a disaster. Worst yet he seams to be completely unaware that he is contending himself.
Date published: 2020-09-15
Rated 5 out of 5 by from Valuable information on managing your money Its been several months since i took this course and I notice I use what I learned in my money management decisions. I am in my mid 60's but it is not too late for me to know the information provided within this course. Although some of it is a review, I really needed to be reminded on managing money. I wish I had valuable new and review knowledge in my 30's or 40's. No doubt about it, take this course. The professor is sincere, thorough, and clear in delivery of up-to-date information.
Date published: 2020-09-08
Rated 2 out of 5 by from Not sure who the target audience for this course i If you regularly save and invest, I don't think there is anything new you can learn from this course. We bailed out on the second lecture. This course, unfortunately, is one of our worst purchases on Great Courses.
Date published: 2020-08-12
Rated 4 out of 5 by from Good introduction to all aspects of Money Mgmt. The course provides a good overview, but using Lifecycle based theory, the spekaer tends to create an impresison with young that it's OK to take debt instead of attempting to maximize savings in early years of career. Debt should be taken only when necessary and not just because it's fine to take it since early year earnings are lower. Also on one in life has steady expenses throughout life, so it's kind of incorrect to say that. Once a person marries and has family to support, expenses increase singnificantly compared to being a bachelor in your 20's.
Date published: 2020-08-12
Rated 4 out of 5 by from great course I bought this course to get a starting point in my own money management.
Date published: 2020-07-05
Rated 5 out of 5 by from Excellent introductory course! This course offers a fine introduction to money management skills and basic financial decision-making. The course appears aimed to those without substantial experience in the field, but Prof. Finke makes it interesting for those with more significant financial and money management expertise. The professor has a pleasant, easy-to-listen-to lecture style and a light sense of humor. I listened to the audio version of the course, which I thought was entirely satisfactory.
Date published: 2020-06-26
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Money Management Skills
Course Trailer
Understanding Your Financial Brain
1: Understanding Your Financial Brain

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.

34 min
Managing Money with Life Cycle Theory
2: Managing Money with Life Cycle Theory

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.

28 min
Basic Investing-Keep It Simple
3: Basic Investing-Keep It Simple

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.

28 min
The Key Financial Instruments
4: The Key Financial Instruments

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.

30 min
How to Use Credit Optimally
5: How to Use Credit Optimally

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.

29 min
Investing in Education
6: Investing in Education

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.

32 min
The Economics of Home Ownership
7: The Economics of Home Ownership

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.

30 min
Managing Risk with Insurance
8: Managing Risk with Insurance

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.

30 min
Essential Tax Principles
9: Essential Tax Principles

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.

29 min
Saving for Retirement
10: Saving for Retirement

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.

33 min
Fundamentals of Estate Planning
11: Fundamentals of Estate Planning

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.

32 min
Putting Your Financial Plan Together
12: Putting Your Financial Plan Together

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.

35 min
Michael Finke

Money Management requires knowledge...but it also requires an understanding of how we as fallible humans make mistakes.

ALMA MATER

The Ohio State University

INSTITUTION

Texas Tech University

About Michael Finke

Professor Michael Finke is a Professor of Personal Financial Planning and Director of the Retirement Planning and Living Consortium at Texas Tech University, where he leads the doctoral program-considered the premier academic program in financial planning. He has doctoral degrees in Consumer Science from The Ohio State University and in Finance from the University of Missouri.A longtime advocate for ethical financial advice, Professor Finke is the former president of the American Council on Consumer Interests and serves as an expert on regulatory and legal issues related to financial planning. He is the author of numerous award-winning research articles in the fields of retirement income, investment advice, and investor decision-making. He has also received numerous awards as an instructor of a wide range of financial planning courses, from basic undergraduate personal finance to doctoral-level research methods.He frequently speaks at industry and academic conferences on advanced financial planning topics. As an expert on personal finance issues, Professor Finke has appeared in the national press, including the Wall Street Journal, the New York Times, USA TODAY, Kiplinger's Personal Finance, and SmartMoney. He is also a frequent guest on national radio shows, such as NPR's On Point with Tom Ashbrook.

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