Financial Planning for Young Adults from Coursera

Financial Planning for Young Adults (FPYA), developed in partnership with the CFP Board, is designed to provide an introduction to basic financial planning concepts for young adults. The FPYA course is organized across eight separate modules within a 4-week window. Topics covered include financial goal setting, saving and investing, budgeting, financial risk, borrowing and credit. Because financial planning is such a personal topic, you will be encouraged to define your own financial goals and objectives while we discuss concepts and provide tools which can be applied in helping you reach those goals.

Within each module, you will view a combination of traditional lecture style videos along with video vignettes that introduce financial topics for discussion among participants. The video vignettes provide a unique and exciting component to this course. Each vignette introduces a real-world scenario where financial decisions must be made and financial planning concepts can be applied. You will be challenged to think critically about each scenario and decide how you might come to a resolution if ever faced with a similar situation.

Finally, the course also includes material throughout which is focused on career opportunities in financial planning, including video interviews with actual CFP® professionals and other professionals working in this exciting and growing career area. The final module in the class is devoted to the topic of financial planning as a career.

What's inside

Syllabus

Orientation

Module 1: Setting Financial Goals and Assessing Your Situation

In this module, you'll explore the "personal" in personal finance, use financial tools to assess where you are currently with your finances, and begin setting goals for where you'd like to be in the future.

Module 2: Budgeting and Cash Flow Management

In this module, we will discuss the importance of budgeting in the financial planning and management process, and resources available for cash flow management. Learners will be exposed to the basic process of budgeting, a panel discussion with practicing investment advisors, and a comparative discussion of the more common tools and methods for managing cash flows.

Module 3: Saving Strategies

In this module you'll have the opportunity to explore best practices for building a saving habit and discuss barriers to saving. Mental accounting will be introduced and considered in terms of how it can affect saving behavior.

Module 4: The Time Value of Money

Understanding why the time value of money is a very important concept -- so important it has its own module!

Module 5: Borrowing and Credit

The ability to use debt and credit to finance purchases has its advantages and disadvantages. Understanding topics related to loan repayment and how your borrowing and credit use behavior may impact your credit report is critical for being able to have access to debt and credit use in the future.

Module 6: Investing

In this module you'll be introduced to investment terms and key investment strategies. This foundation will allow you to better understand investment choices and information that you'll encounter throughout your life.

Module 7: Risk Management

This module covers risk related topics related to insurance, and introduces learners to the concept of personal risk tolerance and how it might impact individualized risk management strategies.

Module 8: Financial Planning as a Career

The module provides an overview of the career opportunities in financial planning. You will get to see what it is like to engage and assist people (clients) from a variety of walks-of life. This module is optional in terms of completion of the course certificate. There is no required assignment in this module.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores financial planning concepts and tools that can be applied to personal finances, making it suitable for young adults

Taught by instructors from the University of Georgia, a recognized institution in personal finance

Offers a comprehensive overview of financial planning, covering budgeting, saving, investing, credit, and risk management

Includes video vignettes that introduce real-world financial scenarios and foster discussion among participants

Provides an introduction to financial planning as a career and includes interviews with professionals in the field

Requires basic financial literacy and numeracy skills to fully engage with the course material

Reviews summary

Financial freedom

Learners say this course is largely positive, especially for young adults just starting out. They describe engaging assignments, especially interviews and quizzes. The course provides a broad introduction to basic financial planning topics, including lectures, readings, exams, quizzes, and homework assignments. Instructors are praised for their clarity and professionalism, while deadlines are appreciated.

Interviews and quizzes enhance learning and provide real-world insights.

"The course is good but could you please remove the graded peer review?"

"I've learned so much to this course."

"This course is really helpful and useful, especially for young people, in order to take into account the investment early in order to accumulate more money in the future"

Suitable for young adults and beginners with no prior financial literacy, providing a solid foundation.

"This course is very helpful to all individual specially the youth."

"If you enrolled in this course expecting...to describe third-world financial habits...then you will be disappointed. As a finance course from an American institution, it is natural the course is aimed primarily at an American audience first and foremost."

"This course is for beginners who have no idea of handling money."

Well-organized and effectively structured, with clear learning objectives and relevant examples.

"The course is really good & helpful."

"This course is very helpful and useful, especially for young people, in order to take into account the investment early in order to accumulate more money in the future"

"It was excellent experience. I would recommend this course to anyone below 30."

Covers essential financial planning topics, including budgeting, investing, insurance, and risk management.

"Excellent course, Great pacing, clear and audible speech. Absolutely perfect. Content is made easier to understand."

"really good for young people who are just starting to earn and stepping out of home."

"Excellent course, I had learned a lots of new things specially how to manage expenses, saving strategies, risk management , importance of a good credit history etc."

Some topics may lack depth for experienced learners or may not be globally applicable.

"This course is very important and useful, especially for young people, in order to take into account the investment early in order to accumulate more money in the future."

"This course is a good preview of what Financial Planning is and covering all the basic knowledge about most aspects of becoming a Financial Planner."

"For me persoanlly it was to basic, but that does not mean, that the course was not good."

Some information may be more relevant to US citizens, potentially limiting its applicability to a global audience.

"Very good value for money if you're beginning in financial planning but if you want to make the best out of it, it's best to be a US citizen; If not, some info won't be relevant to you."

"For someone who is just entering his/her twenties, I found this course very helpful in managing finances."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Planning for Young Adults with these activities:

Review budgeting fundamentals

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Refresh your knowledge of basic budgeting concepts to ensure you have a strong foundational understanding of managing your finances.

Browse courses on Budgeting

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Review notes or textbooks on budgeting principles.
Practice creating a simple budget using a budgeting template or app.

Practice calculating compound interest

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Reinforce your understanding of compound interest calculations to make informed decisions about your investments.

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Review the formula for compound interest.
Solve practice problems involving compound interest calculations.

Join a study group to discuss financial planning concepts

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Engage in discussions and share perspectives with peers to enhance your understanding of financial planning concepts.

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Find or form a study group with other learners taking the same course.
Prepare discussion topics and lead or participate in discussions.

Four other activities

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Show all seven activities

Read 'Broke Millennial' by Erin Lowry

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Gain insights into financial planning and money management strategies specifically tailored for young adults.

View Broke Millennial Workbook: Take Control and Get... on Amazon

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Read the book and take notes on key concepts.
Reflect on the author's advice and consider how you can apply it to your own financial situation.

Attend financial planning meet-ups or seminars

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Connect with professionals in the financial planning field and gain insights into career opportunities.

Browse courses on Networking

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Research and find relevant financial planning events in your area.
Attend the events and actively participate in discussions.

Develop a personal financial plan

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Create a tailored financial plan that outlines your financial goals, strategies, and action steps to achieve them.

Browse courses on Financial Planning

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Identify your financial goals (short-term and long-term).
Research and explore different investment options.
Create a budget that aligns with your goals.
Develop a plan for managing debt and building an emergency fund.

Manage a mock investment portfolio using a financial simulator

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Apply your knowledge of investment strategies and risk management in a simulated environment to gain practical experience.

Browse courses on Investment Management

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Choose a financial simulator platform and create an account.
Research and select stocks to build your portfolio.
Monitor market trends and adjust your portfolio as needed.

Career center

Learners who complete Financial Planning for Young Adults will develop knowledge and skills that may be useful to these careers:

Financial Planner

Financial Planners develop and implement financial plans for individuals and businesses. They must have a strong understanding of financial planning concepts and how to apply them to a client's specific needs. Financial Planning for Young Adults is an excellent course for an aspiring Financial Planner because it provides a comprehensive overview of financial planning concepts, including how to set goals, plan for the future, and manage risk.

See salaries and explore the career path for Financial Planner

Financial Advisor

Financial Advisors develop strong relationships with clients to help them reach their financial goals. They must understand a client's personal financial situation to help guide them towards smart investments, insurance products, or retirement strategies. Financial Planning for Young Adults is a great course for an aspiring Financial Advisor because it provides a deep dive into the personal side of finances, teaching how to set goals, plan for the future, and manage risk, all of which are important for helping clients get on the path to financial success.

See salaries and explore the career path for Financial Advisor

Financial Analyst

Financial Analysts are responsible for evaluating stocks, bonds, and other types of investments so they can make buy, sell, or hold recommendations for clients. They must have a strong understanding of financial markets and how to evaluate the risks and returns of different investments. Financial Planning for Young Adults is a helpful course for an aspiring Financial Analyst because it helps build a foundation in financial planning concepts, including how to assess risk, manage cash flow, and set financial goals.

See salaries and explore the career path for Financial Analyst

Insurance Agent

Insurance Agents sell insurance policies to individuals and businesses to protect them from financial losses. They must be able to explain the different types of insurance policies available and how they can benefit a client's specific needs. Financial Planning for Young Adults may be useful for an aspiring Insurance Agent because it provides an overview of different types of insurance policies and how to assess risk, which are important for selling insurance policies that meet a client's needs.

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Tax Preparer

Tax Preparers help individuals and businesses prepare and file their tax returns. They must have a strong understanding of the tax code and how to apply it to a client's specific situation. Financial Planning for Young Adults may be useful for an aspiring Tax Preparer because it provides an overview of basic financial planning concepts, including how to budget, save, and invest, which can be helpful for understanding how to prepare and file tax returns.

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Loan Officer

Loan Officers help individuals and businesses obtain loans. They must be able to assess a client's financial situation and determine whether or not they are a good risk for a loan. Financial Planning for Young Adults may be useful for an aspiring Loan Officer because it provides an overview of basic financial planning concepts, including how to budget, save, and invest, which can be helpful for understanding how to assess a client's financial situation and determine whether or not they are a good risk for a loan.

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Investment Banker

Investment Bankers help companies raise capital by issuing stocks and bonds. They must have a strong understanding of financial markets and how to structure complex financial transactions. Financial Planning for Young Adults may be useful for an aspiring Investment Banker because it provides an overview of basic financial planning concepts, including how to assess risk, manage cash flow, and set financial goals, which can be helpful for understanding how to structure complex financial transactions.

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Budget Analyst

Budget Analysts help organizations develop and manage their budgets. They must be able to analyze financial data and make recommendations on how to improve an organization's financial performance. Financial Planning for Young Adults may be useful for an aspiring Budget Analyst because it provides an overview of basic financial planning concepts, including how to budget, save, and invest, which can be helpful for understanding how to develop and manage an organization's budget.

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Registered Retirement Consultant

Registered Retirement Consultants help individuals plan for retirement. They must have a strong understanding of retirement planning concepts and how to apply them to a client's specific needs. Financial Planning for Young Adults may be useful for an aspiring Registered Retirement Consultant because it provides an overview of basic financial planning concepts, including how to set goals, plan for the future, and manage risk, which can be helpful for understanding how to help individuals plan for retirement.

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Risk Manager

Risk Managers identify and manage risks that could impact an organization's financial performance. They must have a strong understanding of risk management principles and how to apply them to a specific organization's needs. Financial Planning for Young Adults may be useful for an aspiring Risk Manager because it provides an overview of basic financial planning concepts, including how to assess risk, manage cash flow, and set financial goals, which can be helpful for understanding how to identify and manage risks that could impact an organization's financial performance.

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Personal Banker

Personal Bankers provide financial services to individuals, such as checking and savings accounts, loans, and investments. They must have a strong understanding of financial products and how to meet the needs of their clients. Financial Planning for Young Adults may be useful for an aspiring Personal Banker because it provides an overview of basic financial planning concepts, including how to budget, save, and invest, which can be helpful for understanding how to meet the financial needs of clients.

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Credit Counselor

Credit Counselors help individuals manage their debt and improve their credit scores. They must have a strong understanding of credit counseling principles and how to apply them to a client's specific needs. Financial Planning for Young Adults may be useful for an aspiring Credit Counselor because it provides an overview of basic financial planning concepts, including how to budget, save, and invest, which can be helpful for understanding how to help individuals manage their debt and improve their credit scores.

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Actuary

Actuaries use mathematical and statistical techniques to assess risk and uncertainty. They must have a strong understanding of actuarial science and how to apply it to a variety of business problems. Financial Planning for Young Adults may be useful for an aspiring Actuary because it provides an overview of basic financial planning concepts, including how to assess risk, manage cash flow, and set financial goals, which can be helpful for understanding how to use mathematical and statistical techniques to assess risk and uncertainty.

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Statistician

Statisticians collect, analyze, and interpret data to help businesses and organizations make informed decisions. They must have a strong understanding of statistics and how to apply it to a variety of business problems. Financial Planning for Young Adults may be useful for an aspiring Statistician because it provides an overview of basic financial planning concepts, including how to assess risk, manage cash flow, and set financial goals, which can be helpful for understanding how to collect, analyze, and interpret data to help businesses and organizations make informed decisions.

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Economist

Economists study the economy and how it affects businesses and individuals. They must have a strong understanding of economic principles and how to apply them to real-world problems. Financial Planning for Young Adults may be useful for an aspiring Economist because it provides an overview of basic financial planning concepts, including how to assess risk, manage cash flow, and set financial goals, which can be helpful for understanding how the economy affects businesses and individuals.

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