COURSE SYLLABUS

PD120-Personal Financial Management

FACULTY CONTACT INFO & OFFICE HOURS:

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DAY / OFFICE HOURS (CST)
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday

COMMUNICATION WITH THE INSTRUCTOR:

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GENERAL COURSE INFORMATION:

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Course Number: PD 120

Course Name: Personal Financial Management

Semester Credit Hours: 1semester hour

Prerequisite(s): None

COURSE DESCRIPTION:

This course deals with concepts of personal financial planning and financial control. Topics center on critical self examination of student planning techniques through analysis and research of personal financial legal documents, checking accounts and banking services, income tax procedures, savings methods, investment planning, risk management and insurance, and credit records, credit law, and the cost of credit.

LEARNING OBJECTIVES:

Upon completion of this course, the student will be able to:

  1. Explain commonly utilized accounting methods for determining federal and state taxation policies.
  2. Formulate a comprehensive personal budget.
  3. Apply money management theories and practices used in the American banking system.
  4. Define individual responsibilities associated with honoring contractual agreements in the American legal system.
  5. Identify commonly used insurance instruments through researching methods of risk management.
  6. Prepare a personal insurance plan.

REQUIRED TEXT(S):

Ryan, Joan S. (2010). Managing your Personal Finance, 6th ed. Mason, Ohio: Southwestern-Cengage Learning.

ISBN: 0538449373 ISBN-13: 9780538449373

SUPPLEMENTAL INSTRUCTIONAL MATERIALS:

There are many course resources available for you to use to help you with assignments, tests, and learning. Resources are linked to your session page each week and are compatible with the week’s learning exercises. You may also wish to access the Herzing Online Library or contact technical support as needed.

ACADEMIC INTEGRITY:

Academic honesty is fundamental value at Herzing College Online. Academic Integrity is a demonstration of response for the scholarship and the intellectual/creative efforts of others. Herzing will not accept academic dishonesty, which includes, but is not limited to, plagiarism, cheating in any form, theft of educational material, and the falsification of data. Plagiarism is the use of another source, person or group’s work without giving the author(s) credit. Plagiarism is lying, dishonest, and illegal and will not be tolerated in an institution whose mission is to educate students and help them obtain the skills that enable them to make decisions of conscience. Herzing policy stipulates that an instance of plagiarism, academic dishonesty or cheating will result in a failing grade for the assignment and at the discretion of the instructor a failing grade for the course. In addition, a written warning will be retained on record in the student’s academic file. A second warning may result in the student being expelled from the college.

In all instances when borrowing ideas from other sources, students must provide reference of the source. References should be presented in APA format according to the American Psychological Association (APA).

Online Etiquette:

Since we cannot see each other, we must be careful how we address one another. Let’s please be polite to everyone’s personality, culture, and learning curve. Not everyone learns everything at the same pace. Therefore, let’s please be courteous to one another when responding to each other’s communication efforts by not criticizing other’s work, praising a good effort as well as being polite and sensitive to cultural backgrounds and engaging in politically correct language.

We should also stick to the learning topics outlined by the instructor when participating in classroom discussion threads. Discussions outside the context of the weekly learning activities should be directed to the chat café rather than the weekly discussion board to be respectful of everyone’s time constraints.

CLASSROOM POLICIES:

Written Assignments: All assignments should be submitted by Sunday, midnight on the week they are assigned. (For Example, Week 1 assignment is due by midnight, Sunday, November 7, 2010.) A template is provided for you to complete the assignment. This template is located in the weekly assessments section.

Quizzes: All weekly quizzes must be completed by Sunday evening, midnight of the week they are assigned. The quizzes consist of multiple choice questions and essay questions. The weekly quizzes cover the materials discussed during the week. The final exam is an assessment of all material reviewed in the course. This quiz must be completed by Sunday evening, midnight of week 4. The mid term exam consists of multiple choice questions and essay questions.

Class Discussion Participation: Students are required to post three posts spread over three separate days. (Ex, Wednesday, Thursday, Saturday). The initial post should respond to the main discussion questions and the other follow-up posts should bestudents’ interactions with their peers’ posts or follow-up questions from the instructor. The initial and secondary posts should be meaningful and should promote further discussion. The initial post must be a 200 word minimum response and the follow-up posts must be a 100 word minimum per post. The discussion assignment is worth 50 points each week (25 points for the initial post and 25 points for follow-up posts). Please refer to the discussion threads grading rubric for more about the quality of posts. Posts submitted after Sunday evening, midnight of the week will not be graded. No discussion will take place when the week is over.

Late Assignments:Assignments submitted after Sunday evening will receive a 10 percent reduction in points. Assignments received one week late (7 days late) will receive a 50 percent reduction in points. Assignments received 2 weeks after the due date will not be graded.

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Discussion Threads Grading Rubric

Discussion Threads Grading Rubric
The Academic Dishonesty policy will be strictly followed and non-compliance with the policy will result in consequences as outlined in that policy.
GRADE / A / B / C / D / F
Quality of Initial Post / Fully developed posts indicate: / Clearly defined posts indicate: / Partially developed posts indicate: / No development of posts indicates: / No discussion posts submitted
  • Thorough use of key terms and concepts relevant to the discussion
/
  • Correct use of key terms and concepts relevant to the discussion
/
  • Minimal use of key terms and concepts relevant to the discussion
/
  • No knowledge of the key terms and concepts relevant to the discussion

  • Thoroughly incorporates textbook and other academic or professional resources
/
  • Correctly incorporates textbook and other academic or professional resources
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  • Minimally incorporates textbook and other academic or professional resources
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  • No use of textbook and other academic or professional resources

  • Real-life experiences fully relate to the discussion
/
  • Real-life experiences do not fully relate to the discussion
/
  • Real-life experiences do not relate to the discussion
/
  • No application of real-life experience

  • Comprehensive demonstration of analytical and cognitive thinking skills
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  • Demonstrates of analytical and cognitive thinking skills
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  • Limited demonstration of analytical and cognitive thinking skills
/
  • No demonstration of analytical and cognitive thinking skills

  • Thorough use of current events
/
  • Correct use of current events
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  • Minimal use of current events
/
  • No use of current events

  • Use of correct spelling, grammar, and punctuation with no errors
/
  • Use of correct spelling, grammar, and punctuation with minimal errors
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  • Incorrect spelling, grammar, and punctuation with multiple errors
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  • Incorrect spelling, grammar, and punctuation with many errors

Initial Post Deadline /
  • Wednesday of the week
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  • One day after the due date assigned by the Instructor
/
  • Two days after the due date assigned by the instructor
/
  • Last day of the week (as defined by the Instructor)
/ No discussion posts submitted
Quality and Quantity of Secondary Posts / Fully developed posts indicate: / Clearly defined posts indicate: / Partially developed posts indicate: / No development of posts indicates: / No discussion posts submitted
  • Thorough use of key terms and concepts relevant to the discussion
/
  • Correct use of key terms and concepts relevant to the discussion
/
  • Minimal use of key terms and concepts relevant to the discussion
/
  • No knowledge of the key terms and concepts relevant to the discussion

  • Real-life experiences fully relate to the discussion
/
  • Real-life experiences do not fully relate to the discussion
/
  • Real-life experiences do not relate to the discussion
/
  • No application of real-life experience

  • Comprehensive demonstration of analytical and cognitive thinking skills
/
  • Demonstrates of analytical and cognitive thinking skills
/
  • Limited demonstration of analytical and cognitive thinking skills
/
  • No demonstration of analytical and cognitive thinking skills

  • Use of correct spelling, grammar, and punctuation with no errors
/
  • Use of correct spelling, grammar, and punctuation with minimal errors
/
  • Incorrect spelling, grammar, and punctuation with multiple errors
/
  • Incorrect spelling, grammar, and punctuation with many errors

  • Meets or exceeds the required number of secondary posts as defined by the Instructor; posts are spread out over 3+ days
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  • Meets the required number of secondary posts as defined by the Instructor; posts are spread out over 2 days
/
  • Did not post the required number of secondary posts as defined by the Instructor; posts are submitted on the same day, prior to the last day
/
  • Did not post the required number of secondary posts as defined by the Instructor; posts are submitted on the last day

SUMMARY OF WEEKLY ASSIGNMENTS/ASSESSMENTS:

Week 1 / Course Contract –Please review the contract located in the syllabus link, electronically sign and submit the contract in the week 1 assessment.
Read Chapters 6 and 7 in textbook.
Review materials in supporting lesson links.
Discussion Assignment #1 50 points
Respond to each of the questions below in your initial post no later than Friday. Your initial response provided contains a minimum of 200 words. Two additional posts (100 word minimum) are required on separate days and may respond to other students' responses or additional questions posted. (Ex: Initial Post - Friday; Second post - Saturday; Third post - Sunday) Posts submitted after Sunday evening will not be graded.
1. Employees receive monetary and non-monetary benefits for the performance of duties. Many employers offer flexible work arrangements. What benefits and incentives do you prefer? In your response, rate the importance of these benefits.
2. Most individuals voluntarily comply with their tax obligations. What factors should be considered when creating a tax that is considered fair by most people in a society?
3. Taxpayers are responsible to file a tax return every year. Filling in the forms by hand, tax preparation software and tax preparers are a few of the methods of completing your income tax return. Compare and contrast two available tools. Which method will you/did you use this year? Why?
Written Assignment #1 – 75 points Your homework assignment consists of two problems listed below. Please use the template to complete your assignment.
Problem 1 - Prepare an employee withholding sheet similar to Figure 6.2 of the textbook, using the following information:
Mike Anderson, whose social security number is 999-00-9962, is paid weekly. He is single and has one withholding allowance. He works in Oregon *use Figure 6.3 and 6.4 to determine his income tax withholdings). He worked 40 hours at his regular rate of $7.70 an hour and 6 overtime hours last week. In addition to the required deductions, he had $22 for insurance, $12 for union dues, and $10 for charitable contributions withheld from his paycheck.
Problem 2 - Janette is a student with a baby-sitting service. She’s unsure whether she needs to file a federal tax return on her income. She also wants to know how long she needs to keep tax-related records. Visit the sites listed below and answer the following questions
Website: Internal Revenue Service Website: Bankrate.com Internal Revenue Service
1. What types of income typically received by students may be taxable?
2. Does everyone file a 1040EZ?
3. Besides your actual tax returns, what tax records should you keep?
APA Guidelines and Academic Dishonesty Quiz – (not included in gradebook)
The APA quiz consists of 15 multiple choice/true false questions. This is due by Sunday evening, midnight of Week 1.
Quiz #1 –50 points
The Week 1 Quiz consists of 6 multiple choice questions worth 5 points each and 2 short essays worth 10 points each.
Week 2 / Read Chapters 20, 8, and 9 in textbook.
Review materials in supporting lessons links.
Discussion Assignment #2 – 50 points
Respond to each of the questions below in your initial post no later than Wednesday. Your initial response provided contains a minimum of 200 words. Two additional posts (100 word minimum) are required on separate days and may respond to other students' responses or additional questions posted. (Ex: Initial Post - Wednesday; Second post - Friday; Third post - Sunday) Posts submitted after Sunday evening will not be graded.
1. Budgeting should begin early in your life. Discuss how your budget is based on personal values and choices and modified when new "life events" occur. Why do some individuals ignore planning and budgeting?
2. Checking accounts have many good features, such as overdraft protection. List banking services that appeal to you and explain why these services are important.
3. Discuss a contract that you have entered into and your obligations of the contract. Was it an expressed or implied contract? Explain
Mini-Project Budget – 150 points
The Mini-Budget consists of four sections. Please use either the word document or template attached to complete your Mini-Project Budget.
Section 1
Complete the Current Budget/Cash Flow Statement by collecting all source documents for gathering your monthly income and expenses. Examples of information include check registers, bank statements, pay stubs, pay statements, child-support documents and other pertinent documents. Input the source document and income in the worksheet. Gather source documents for expenses including rental agreements, loan statements, monthly billing statements, bank statements, check registers, cash receipts and miscellaneous documents. Input the source document and expense in the worksheet.

Section 2

Compile previous loan statements your have taken out to date. Find the source document and total the loan balances. Document the interest rate. Determine your schooling expense on an annual basis. Include tuition, school fees, books, computers and additional items needed for your education. Enter this information in the worksheet.
Section 3
Provide your anticipated monthly income by researching the pay rate for your "future employment". Document this information in the source document section and input data in the worksheet. Enter additional sources of income in the worksheet. Provide anticipated monthly cash outflows. The first expense to incorporate is your student loan obligation. Access the loan calculator in Week 2 Additional Resources. Enter the estimate loan balance, interest rate and payment schedule to determine your monthly loan payment. Enter additional cash outflows.
Section 4
Summary of Results - In a 400 word essay, discuss the following:
1. Describe the results of your cash flow statement. Discuss income and expense categories you have mastered and what you perceive are possible areas of improvement.
2. Needs are defined as "air and water" but our society can make us believe differently. How has society influenced your decision making? Does this affect your choices in a positive or negative manner? How?
3. Do you formulate a plan for big purchases or events? How can the decision-making process change your spending habits?
4. What aspect of financial planning is new to you? Explain.
5. What type of contracts do you plan to enter into in the next 5 years? How will this affect your budget?
Criteria:
Complete all parts of the Budget worksheet.
Quiz #2 – 50 points
The Week 2 Quiz consists of 6 multiple choice worth 5 points each and 2 short essays worth 10 points each.
Week 3 / Read Chapters 10, 11, 12, 16, 17 and 18 and from the textbook.
Review materials in supporting lesson links.
Discussion Assignment #3 – 50 points
Respond to each of the questions below in your initial post no later than Wednesday. Your initial response provided contains a minimum of 200 words. Two additional posts (100 word minimum) are required on separate days and may respond to other students' responses or additional questions posted. (Ex: Initial Post - Wednesday; Second post - Friday; Third post - Sunday) Posts submitted after Sunday evening will not be graded
1. The Federal Trade Commission estimates there are as many as 9 million Americans that are subject to identify theft each year. Identify theft is on the rise with the advancement of electronic media. Have you or anyone you know ever been the victim of identity theft? Do an internet search of identity theft stories. How did it happen? How do you protect yourself from identity theft?
2. Credit cards, secured and unsecured loans and installment loans are used for short-term and long-term financing. Without sharing personal or confidential information, (no institution names please) discuss the types of creditors you are currently dealing with and explain your responsibility towards these creditors. How do you plan to fill your obligation?
3. Investments may take the form of savings, certificates of deposits, mutual funds, stocks, bonds and retirement accounts. Identify criteria you have used or plan to use to evaluate an investment. What criteria is most important to you? Why?
Written Assignment #3 – 75 points
Problem 1
Objectives:
1. Explain the advantages and disadvantages of using credit.
2. Describe the responsibilities of consumer credit.
Task: Respond to the following questions in a 300 word essay
1. Have you been in a situation where a credit card would have been very useful? Describe what happened.