Financial Basics Everyone Should Know
1h 54mBeginner2025-01-09
Authors
Michael McDonald
Researcher and Professor of Finance at Fairfield University
Course details
How do banks work? Are you saving enough for retirement? Considering the answers to these questions and understanding financial basics is critical to planning a strong financial future. This course breaks down the mystery around the financial industry and provides practical knowledge for everyone, so you can manage accounts in an informed way, whether you are working with a financial advisor or not. Topics covered include savings, investments, insurance, retirement, and more.
Learning objectives
Describe how banks operate and explain rules of thumb for obtaining loans.
Describe the best strategies for investing in stocks.
Compare different ways to invest in stocks and bonds.
Recognize how insurance functions and explain best practices for purchasing different insurance products.
Estimate savings needed for retirement.
Compare different vehicles for retirement investing.
Learning objectives
Describe how banks operate and explain rules of thumb for obtaining loans.
Describe the best strategies for investing in stocks.
Compare different ways to invest in stocks and bonds.
Recognize how insurance functions and explain best practices for purchasing different insurance products.
Estimate savings needed for retirement.
Compare different vehicles for retirement investing.
Skills covered
Personal FinanceAccounting SkillsCorporate FinanceFinance and AccountingLearningProfessional Development
Concepts
0. Introduction
- 01 - Getting a handle on your finances
- 02 - Disclaimer
1. Save
- 03 - Understanding how banks operate
- 04 - Understanding bank rates
- 05 - Using certificate of deposits
- 06 - Understanding credit scores
2. Invest
- 07 - The stock market
- 08 - Determining when to adjust assets
- 09 - Determining the value of a stock
- 10 - Setting up a brokerage account
- 11 - Investing with mutual funds
- 12 - Investing with ETFs
- 13 - How bonds work
- 14 - Diversifying your portfolio
3. Insurance
- 15 - The basics of insurance
- 16 - The basics of life insurance
- 17 - The basics of property insurance
- 18 - Deciding whether HSAs are right for you
4. Retire
- 19 - Considering the four principles to retire
- 20 - Applying two rules for retirement
- 21 - Choosing between 401(k) and 403(b)
- 22 - Using Roth IRAs and SEP accounts
5. Inflation
- 23 - What is inflation
- 24 - Why does inflation matter
- 25 - Measuring inflation
- 26 - Protecting yourself against inflation
- 27 - Understanding the link between recessions and inflation
- 28 - Recessions and your financial health
Conclusion
- 29 - Continue your financial education