Simple Basics of Personal Finance from Udemy

What's inside

Learning objectives

Understand and feel comfortable with the basics of the money-related elements of everyday life and how to approach financial aspects responsibly and confidently
Learn the difference between banks, credit unions and other financial institutions, as well as savings, checking, debit cards, and credit cards.

Examine borrowing money and the basics of loans for auto loans, home loans, paying for college and higher education, and more.
We'll dig into other "grown up" stuff including payroll taxes, insurance, social security, saving for retirement, identity protection and more.

Understand and feel comfortable with the basics of the money-related elements of everyday life and how to approach financial aspects responsibly and confidently
Learn the difference between banks, credit unions and other financial institutions, as well as savings, checking, debit cards, and credit cards.
Examine borrowing money and the basics of loans for auto loans, home loans, paying for college and higher education, and more.
We'll dig into other "grown up" stuff including payroll taxes, insurance, social security, saving for retirement, identity protection and more.

Syllabus

Introductions!

Take a quick look through the entire course and see what we have planned!

Here are some tips to make the entire course-taking experience easier and more productive.

Learn about your instructor along with the additional resources we've developed to compliment the video lectures.

Learn the difference between banks, credit unions, and other types of Financial Institutions.

Invaluable to good financial health are basic savings.

In today's world, some form of a checking account is a necessity to make electronic payments.

What's the difference between NSF fees and Overdraft fees? Does it matter?

Debit cards are different from credit cards. Learn the difference.

Other ways to pay than credit and debit cards are explained.

One of the most important aspects of your financial life is explained.

Understand the basic principals and elements of borrowing money.

The actual process of borrowing money is explained.

Auto loans to buy cars are one of the most common loans.

Work through information and questions to help you decide if you're ready to become a home owner.

The specific details about mortgages and borrowing money for a home.

Learn the basics of paying for college, trade schools and all types of Higher Education.

The IRS makes it easier to save for college with 529 Plans. Find out how...

Payday loans are a quick way to get money for a short term, but be aware!

A look at what kind of topics will be covered in the "Other Grown Up Stuff" section of the course AND how to request topics you'd like to see.

The basics of Payroll and Income Taxes along with forms and processes for filing.

The major types of insurance explained along with how insurance claims work.

Wrap up the course and get Bonuses for completing it! Check out goodies and other information!!

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Serves as a great introduction for teens and young adults, helping them understand life economics and how all the pieces work together, which is essential for financial literacy

Uses common, everyday language and real-world examples, making the concepts and principles easy to understand regardless of previous financial or math experience, which builds a strong foundation

Explores the difference between banks, credit unions, and other financial institutions, which is fundamental knowledge for managing personal finances effectively and making informed decisions

Examines borrowing money and the basics of loans for auto loans, home loans, paying for college and higher education, which are common financial needs for many individuals

Digs into payroll taxes, insurance, social security, and saving for retirement, which are essential components of financial planning and long-term security for adults

Includes a discussion of payday loans, highlighting both the potential benefits and significant risks associated with this type of borrowing, which is important for responsible financial decision-making

Reviews summary

Simple basics of personal finance review

According to learners, this course provides a solid introduction to the basics of personal finance. Many appreciate the clear explanations and the instructor's use of real-world examples. Students say it covers a wide range of essential topics suitable for absolute beginners, including banking, credit, and loans. However, some reviewers note that while the breadth is good, the course lacks depth on more advanced topics or practical application, feeling too basic if you have some prior knowledge. Overall, it's seen as a strong starting point but may require further study for more complex financial planning.

Covers a wide range of essential finance areas.

"Surprised how many topics were covered, from checking accounts to retirement basics. A good overview."

"Touched upon everything I needed to know to get started - taxes, insurance, loans, savings."

"Provided a useful introduction to various aspects of 'grown-up' finances."

Instructor uses simple language and examples.

"The instructor is fantastic, explains everything in a way anyone can understand. No confusing jargon."

"Loved the real-world examples provided. Made the concepts much more relatable and practical."

"Ron Trucks makes learning finance enjoyable and easy. His approach is very clear and concise."

Excellent for those new to finance basics.

"Perfect course if you are just starting out with personal finance. It covers all the basics clearly."

"I had zero knowledge before taking this, and now I feel much more confident understanding things like banks, credit cards, and loans."

"Really simple explanations that make complex financial terms easy to grasp. Great for beginners."

Too basic or not detailed enough for some.

"While it covers many topics, it doesn't go deep enough if you want actionable steps or strategies."

"Felt a bit too basic after the first few modules. Someone with a little finance background won't learn much new."

"Could use more in-depth coverage on investing or specific budgeting methods beyond the absolute simplest."

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 Simple Basics of Personal Finance with these activities:

Review Basic Math Concepts

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Strengthen your understanding of fundamental math concepts like percentages and interest calculations, which are essential for grasping personal finance principles.

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Review arithmetic operations.
Practice percentage calculations.
Solve simple equations.

Read 'The Total Money Makeover' by Dave Ramsey

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Learn practical strategies for debt management and wealth building, complementing the course's foundational knowledge.

View Build a Business You Love: Mastering the Five... on Amazon

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Obtain a copy of the book.
Read the book, taking notes on key concepts.
Apply the principles to your own financial situation.

Create a Personal Budget

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Apply the course's principles by creating a detailed personal budget to track income, expenses, and savings goals.

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Track your income and expenses for a month.
Categorize your spending.
Create a budget using a spreadsheet or budgeting app.
Review and adjust your budget regularly.

Four other activities

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Show all seven activities

Read 'I Will Teach You to Be Rich' by Ramit Sethi

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Learn how to automate your finances and make smart investment decisions, complementing the course's foundational knowledge.

View Money for Couples: No More Stress. No More... on Amazon

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Obtain a copy of the book.
Read the book, taking notes on key concepts.
Apply the principles to your own financial situation.

Write a Blog Post on a Personal Finance Topic

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Solidify your understanding by researching and writing a blog post explaining a specific personal finance concept covered in the course.

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Choose a topic from the course.
Research the topic thoroughly.
Write a clear and concise blog post.
Share your post online.

Develop a Retirement Savings Plan

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Create a comprehensive retirement savings plan, including investment strategies and projected growth, to apply the course's long-term financial planning principles.

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Estimate your retirement expenses.
Determine your retirement savings goals.
Research investment options.
Create a plan with specific investment allocations.
Monitor and adjust your plan regularly.

Volunteer at a Financial Literacy Program

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Reinforce your understanding by volunteering at a local organization that provides financial literacy education to others.

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Research local financial literacy programs.
Contact the organization and inquire about volunteer opportunities.
Volunteer your time and share your knowledge.

Career center

Learners who complete Simple Basics of Personal Finance will develop knowledge and skills that may be useful to these careers:

Personal Finance Consultant

Personal finance consultants offer advice and guidance to individuals on managing their finances. This course's comprehensive coverage of personal finance basics makes it appropriate for anyone aspiring to become a personal finance consultant. The course's exploration of banking, loans, taxes, insurance, and retirement planning helps build a strong foundation for providing financial advice. The course's emphasis on real-world examples also makes it an appropriate choice for aspiring consultants.

See salaries and explore the career path for Personal Finance Consultant

Financial Coach

Financial coaches work with individuals to help them improve their financial habits and achieve their financial goals. This course may build a good base for understanding the fundamentals of personal finance. The course's coverage of banking, loans, credit cards, and retirement planning provides a broad foundation for providing financial advice. The course's accessible language and real-world examples make it an appropriate choice for those who want to pursue this career.

See salaries and explore the career path for Financial Coach

Financial Advisor

A financial advisor guides clients in making informed decisions about their money. This includes investments, retirement planning, and managing debt. This course provides a foundational understanding of personal finance, vital for anyone entering this field. With its accessible explanations of savings, checking, credit cards, and loans, the course can help a financial advisor better explain these concepts to their clients. The course's coverage of 'grown up' topics like payroll taxes, insurance, social security, and retirement planning equips aspiring financial advisors with a broad understanding of the financial landscape.

See salaries and explore the career path for Financial Advisor

Retirement Planner

A retirement planner assists individuals in planning for their financial future during retirement. This course's emphasis on saving for retirement, social security, and other 'grown up' topics makes it helpful for this career. The course can help retirement planners understand the financial challenges and opportunities associated with retirement. This course can also assist in understanding how various financial elements work together.

See salaries and explore the career path for Retirement Planner

Credit Counselor

Credit counselors help individuals manage their debt and improve their financial situations. Understanding different financial products and concepts is important in this career. This course provides a solid base of knowledge, covering topics from banking basics to understanding loans and credit cards. The course's exploration of payday loans, including 'the good, the bad, and the ugly,' is particularly relevant for a credit counselor who needs to advise clients on the risks associated with such loans.

See salaries and explore the career path for Credit Counselor

Loan Officer

Loan officers evaluate and approve loan applications for individuals and businesses. This course's comprehensive exploration of borrowing money, auto loans, home loans, and paying for college helps build a background for a loan officer. The course's detailed explanations of different loan types and the borrowing process may be useful in understanding the nuances of lending. The course may also be helpful in explaining the elements of borrowing money to clients.

See salaries and explore the career path for Loan Officer

Personal Banker

Personal bankers provide a range of financial services to individual clients, including opening accounts, processing loan applications, and offering financial advice. This course's coverage of banking, loans, and credit cards can help personal bankers better understand the products and services they offer. Understanding payday loans and other financial products also helps personal bankers advise their clients.

See salaries and explore the career path for Personal Banker

Bank Teller

Bank tellers handle customer transactions and provide basic banking services. This course's overview of banking fundamentals, including savings, checking, debit cards, and credit cards, helps a bank teller understand the products and services offered by financial institutions. The course's explanation of the differences between banks, credit unions, and other financial institutions may be useful for tellers in answering customer questions and providing excellent customer service.

See salaries and explore the career path for Bank Teller

Budget Analyst

Budget analysts are responsible for managing and analyzing budgets for organizations or individuals. This course may provide a beneficial introduction to understanding financial principles. The course covers a wide range of topics, including banking, loans, and retirement planning, all of which are relevant to creating and managing effective budgets. The course's discussion of insurance and social security further contributes to a budget analyst's understanding of individual and organizational financial needs.

See salaries and explore the career path for Budget Analyst

Insurance Agent

Insurance agents sell insurance policies to protect individuals and businesses from financial losses. This course's module on the major types of insurance and how insurance claims work helps build a foundation for this role. An insurance agent who understands the basic financial concepts covered in the course, such as loans and retirement planning, may be better equipped to advise clients on the appropriate types and levels of insurance coverage.

See salaries and explore the career path for Insurance Agent

Benefits Administrator

Benefits administrators manage employee benefits programs, including health insurance, retirement plans, and other perks. The segment on 'grown up' topics, including payroll taxes, insurance, social security, and saving for retirement, may be useful in this role. The knowledge gained from this course can help benefits administrators communicate effectively with employees about their benefits options and ensure that benefits programs are administered efficiently.

See salaries and explore the career path for Benefits Administrator

Real Estate Agent

Real estate agents assist clients in buying, selling, or renting properties. This course's focus on home loans and mortgages helps a real estate agent understand the financial aspects of buying a home. The course's discussion of whether someone is ready to become a homeowner may be useful in guiding clients through the home-buying process. Further, a real estate agent who understands the basics of personal finance is more likely to be viewed as trustworthy and reliable.

See salaries and explore the career path for Real Estate Agent

Accountant

Accountants prepare and examine financial records. While this role often requires an advanced degree, this course may be a useful starting point for understanding personal and small business finance. Topics covered include payroll taxes and insurance. Understanding the material in this course may provide a more complete picture of the financial landscape.

See salaries and explore the career path for Accountant

Bookkeeper

Bookkeepers record financial transactions and maintain financial records for businesses. This course's introduction to financial concepts may be useful for a bookkeeper. Although this course doesn't focus on the specifics of business accounting, understanding personal finance principles can provide a broader context for managing financial records. Topics covered include payroll taxes and Social Security.

See salaries and explore the career path for Bookkeeper

Tax Preparer

Tax preparers assist individuals and businesses in preparing and filing their taxes. This course's mention of payroll and income taxes, along with forms and processes for filing, may be relevant in understanding the basics of taxes. While this course's coverage of taxes is limited, it may be a launchpad for becoming a tax preparer.

See salaries and explore the career path for Tax Preparer

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Simple Basics of Personal Finance.

Build a Business You Love

Save

Dave Ramsey's book focuses on debt reduction and building wealth through a practical, step-by-step approach. It complements the course by providing actionable strategies for managing money and achieving financial goals. While the course introduces various financial concepts, this book offers a more prescriptive plan for improving one's financial situation. It is particularly helpful for those struggling with debt.

Build a Business You Love: Mastering the Five...

Kindle Edition

Money for Couples

Save

Offers a practical and actionable guide to personal finance, covering topics like automating finances, investing, and negotiating. It aligns well with the course's objective of empowering individuals to take control of their financial lives. Sethi's approach is modern and relatable, making it a good fit for younger audiences or those new to personal finance. This book adds more depth to the course.

Money for Couples: No More Stress. No More Fights....

Kindle Edition

Simple Basics of Personal Finance

What's inside

Learning objectives

Syllabus

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Reviews summary

Simple basics of personal finance review

Activities

Career center

Reading list

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