Essentials of Personal FinanceEver wondered what basic cash flow, budget management, and future value of cash means? These, together with basic investment considerations such as the principles of compounding and computing of the values of present and future values, effective debt management and consumer credit sourcing will all be covered in the course. Students will learn how they can take a closer step towards realizing their personal financial goals.Related ITE Course: Higher Nitec in Financial Services
At the end of the module, students will be able to:Prepare an income statement, identifying personal assets, liabilities, income and expenses and net worthChoose an appropriate investment by applying the principles of compounding, computing the values of present and future values and taking into consideration the all relevant factors in choosing the investmentSelect savings and protection plans via applying the knowledge gained in the module.
S/N Module Outline 1Cash Flow Management Explain how cash flow is managed 2Present & Future ValuesApply the principle of compounding. 3InvestmentExplain the factors to consider when investing.Explain the various types of investments and their advantages and disadvantagesExplain the key strategies in choosing an investment 4InsuranceExplain the concepts, types and purpose of buying life insurance. 5Central Provident Fund (CPF)Explain the concept and purpose of CPF