BUS120 Personal Finance

Background Knowledge

Time value of money

Personal finance through different life stages

Development of income, family growth, yong children, older children

What does it cost to live, family budget, SIFO's reference budget

Electricity prices, interest rates for home mortage, cost of having a car

Saving, should we save? how should we save?

Saving, real estate, bank, stocks, bonds, funds

Real estate economics, housing prices, purchase and financing of real estate

Mortgages, car loans, credit cards, other loans, paying back your loan

Risk management for the household

Credit

Tax

Personal taxes, a practical overview

Property Tax

Wealth Tax

Starting a business, how to organize

Pension

Basic understanding of the pension system and National Insurance Scheme

Other pensions

Various social benefits, disability insurance

Relevant legal issues

Economic consequences of marriage

Rights when you buy something

Knowledge

After completion of the course, students will:

• have thorough knowledge and understanding of personal economic challenges throughout life
• have thorough knowledge and understanding of the most common financial investment options relevant to the private investor
• have thorough knowledge and understanding of the most common financing options applicable to individuals
• have knowledge of and understanding of tax issues related to taxation of individuals
• have knowledge of and understanding of how the retirement system is built up

Skills

After completion of the course, students will:

• understand the time value of money and be able to apply these knowledge in specificissues for personal finance
• have thorough knowledge and understanding of financial investments and be able to apply the knowledge based on specific examples
• be able to assess the risk associated with financial investments based on specific examples
• have knowledge of and understanding of tax issues related to taxation of individuals as well as apply knowledge on specific issues

General competence

After completion of the course, students will:

• be able to independently reflect on the assumptions and assumptions behind the criteria and method of investment in securities, bank savings and retirement savings.
• have insight into economic challenges like; inheritance and tax, household / personal budget and comprehensive risk management