Personal Finance by ibuernifa


									                             PFP 3341 – Personal Finance: Goals Planning
                                   Personal Finance Concentration
Instructor: Terrance K Martin Jr.
Office: HS 272
Office Hours: By appointment
Phone: 806-742-5050 ext. 239
Email: ll email communication will be through Blackboard
Mailing Address: Broadway and Akron Street, Rm 272, Box 41210, Lubbock, TX 79409-1210
Course Website:

Required Texts:     Personal Finance by E. Thomas Garman & Raymond E. Forgue, 10th edition,
                    South-Western Publishing, ISBN: 1-4390-3902X. (Required chapters can be purchased at
                    8-1-4390-3902-1&echapterView=true# for $9.49 each if you do not want to purchase the entire

                    Achieving Objectives Made Easy: Practical Goal Setting Tools & Proven Time Management
                    Techniques by Raymond Le Blanc, ISBN: 978-90-79397-03-7.

                    A Survival Guide for Buying a Home by Sid Davis, 2nd edition, ISBN: 0-8144-1425-7.

A financial calculator also required! TI BAII Plus is recommended. However if you have another brand/model
that you know how to use, you are welcome to use it.

Course Description:
PFP 3341 on goal planning is an online course that focuses on financial goals typically sought by individuals. The
material is beneficial for use in personal life and some professions. It can be taken separately or as part of the
Personal Finance Concentration.1 Topics covered in PFP 3341 will include:

    •   Goal planning & cash management
    •   Purchasing strategies for vehicles
    •   Housing decisions
    •   Education funding
    •   Retirement planning
    •   Preparing for unexpected expenditures

  The Studies in Personal Finance concentration meets the needs of students who will work in positions where
knowledge of personal financial issues is required (i.e., financial services, credit counseling, social services,
education). The Personal Finance Concentration will also be a valuable concentration for students who want to
improve their knowledge in this area to enhance their own earning and wealth building potential. Two courses in
the curriculum (PFP 3301 and PFP 3321) meet the educational requirements for the Accredited Financial
Counselor (AFC) designation. This curriculum may also lead to graduate studies in Personal Financial Planning
and/or to other designations; however, it will not meet the educational requirements for the Certified Financial
Planner (CFP) certification. For further information about the PF concentration, go to
Expected Learning Outcomes:
Upon successful completion of this course, students should be able to:
   • Recognize the importance of financial goals and identify strategies for attaining those goals.
   • Understand personal financial statements and the applications of TVM.
   • Determine the costs and financing options for purchasing a new vehicle.
   • Identify the advantages and disadvantages of renting vs. buying a home while determining costs,
       preparing and implementing a budget, and improving credit scores.
   • Identify strategies to pay for college and calculate costs associated with education.
   • Identify retirement needs and retirement savings strategies.
   • Identify strategies to work toward specific financial goals and prepare for unexpected expenses.

In addition to these technical and knowledge-based learning outcomes, students should also be able to recognize
and demonstrate the application of these outcomes to their personal and/or professional lives.

Methods for Assessing the Expected Learning Outcomes:
The expected learning outcomes for the course will be assessed through discussions, assignments, quizzes, and

Criteria for Grade Determination:
        Discussions   (8 @ 25 points each)           200 points
        Assignments (8 @ 45 points each)             360 points
        Quizzes       (7 of 8 @ 20 points each)      140 points
        Exams         (2 @ 100 points each)          200 points
        Unexpected Expense Paper                     100 points
        Total                                        1000 points

Grading Scale:
        900 to 1,000 points      A
        800 to 899 points        B
        700 to 799 points        C
        600 to 699 points        D
        Below 600 points         F

Course Organization
This course is organized into seven units. The content for each unit is broken up in the following manner:
                          Unit                 Topics
 1   Introduction to Goals                         Basics of Goal Planning
                                                   Developing and Implementing Goals
 2   Toolbox for Goals                             Personal Financial Statements
                                                   Applying TVM
 3   Ticket to Ride                                Buying a New vs. Used Vehicle
                                                   Steps in Purchasing a New Vehicle
 4   Home Sweet Home                               Renting
                                                   Home Ownership
 5   Paying for College                            Assessing Needs and Targeting Resources
                                                   Education Savings Programs
 6   Plan for the Golden Years                     Retirement Funding
                                                   Types of Retirement Plans
 7   Other Goals and Financial Surprises           Working Toward Other Specified Goals
                                                   Unexpected Expenses
Discussions: Students will receive participation points by participating in eight guided discussions pertaining to
the course material. A minimum of 2 postings should be made to the discussion board for each topic. The
postings need to include an original response and a response to a classmate’s posting. The due date for responses
for each topic will be given on the discussion board and course calendar. Posting early promotes discussion and
allows classmates to respond. Feel free to comment beyond the required two postings. See the attached grading
rubric for information on how discussion board postings will be evaluated.

Assignments: Eight assignments are included in the course to encourage exploration and application of the
material. Further details pertaining to the assignments will be available on Blackboard. Due dates for the
assignments will be available on the course calendar. All assignments must be completed independently. While
it is fine to discuss assignments with other students, including helping each other with how to do the work, each
student must turn in a unique and individually prepared project. All work submitted (including spreadsheets,
forms, and written work) must be your own work. Submitting work that is not your own is considered academic

Assignments will be penalized 10% per day they are late, for a maximum of three days. Assignments will not be
accepted more than three days past the due date. To compensate for unexpected emergencies, each student will
receive one ―gift‖ for the semester, where they can turn in an assignment for up to three days late with no
penalty. It is highly recommended that students save their gift for unexpected events. In order to apply your gift,
add a comment stating your desire when you upload the assignment.

Unexpected Expense Paper: You will be required to write a research paper on an unexpected expense and how to
prepare for it. To ensure regular progress, the paper will have three deadlines: 1) selecting a topic, 2) submitting
a rough draft, and 3) submitting the final paper. Additional details will be available on Blackboard.

Quizzes and Exams: Eight open-book quizzes and two open-book exams will be given. Quizzes and exams must
be completed independently. You are not allowed to help other students or accept help from anyone in
completing quizzes or exams. To give or accept help with a quiz or exam is considered scholastic dishonesty,
and, at minimum, you will fail this course.

The quizzes and exams will be multiple-choice and will be taken on Blackboard. The quizzes and exams will be
timed, so there will not be enough time to look up all answers - you must study to be prepared for the exams!
There will not be a comprehensive final examination. Exam dates will be posted on the course calendar. Quizzes
and exams will not be accepted late. The lowest quiz grade will be dropped.

To be Successful:
To be successful in this course, students must read the assigned chapters and listen to the audio lectures. In
addition, students must complete assignments and participate in discussions. The chapter questions are not
required but should be used to gain a better understanding of the chapter. Successful students complete required
work on time.

The course will be managed through Blackboard ( Students are advised to log on to
Blackboard and conduct a browser tune-up to ensure that their computer is Blackboard ready (this may require
downloading software). Students are responsible for making sure they can access Blackboard and for checking
the site regularly for updated information. Students are also responsible to ensure that their files upload properly
before the due date. For assistance with Blackboard, consult the links under the ―Login to Blackboard‖ button on
the above website. For help resolving technical difficulties, contact TTU IT Help Central at (806) 742-HELP(4357),
or Do not contact the instructor about computer problems. It is the student’s
responsibility to allow ample time to deal with computer glitches.

Students who do not have experience using Blackboard should go to the Student Resources Section on the
homepage and use the resources available to familiarize yourself with Blackboard.

Communication with the Instructor:
We prefer that you use the discussion board on Blackboard, rather than email, for questions that are applicable to
everyone in the class. The instructor will communicate with class members through the discussion board and
email within Blackboard. If a student prefers to use another account, it is the student’s responsibility to set up
their Blackboard email account to forward mail. Students will be held responsible for all email sent to the
Blackboard account, regardless of whether or not it was forwarded to the other account. The instructor will
attempt to answer student questions by email or post a message to the discussion board within 48 hours on
school days. Do not expect responses on weekends.

Netiquette for Online Discussions and Email:
Netiquette refers to ―Network Etiquette‖. It is the way one should behave when sending email, posting to
threaded discussions, or chatting online. Here are some basic rules to help you get the most out of your online

    •   ALL CAPS IMPLIES THAT YOU ARE SHOUTING - Please do not do this!
    •   Watch your ―tone‖ - it’s written, not verbal communication. It can be very easy to misinterpret someone’s
        meaning online.
    •   Check your spelling - Always!
    •   Never ―say‖ anything that you would not want posted on the wall of a face to face classroom, because it
        could be!
    •   Behave as you would in a face-to-face classroom.
    •   Remember there is a real live person at the other end reading your posts and email. Treat them with
    •   Foul language, insults and harassment are not tolerated (just as it would not be tolerated in a face to face
    •   Don’t flame others (a flame is a series of angry responses to someone’s comments).
    •   Think about what you have written before you submit it.


Academic Honesty:
Academic honesty is expected. Students who violate University rules on scholastic dishonesty are subject to
disciplinary penalties, including the possibility of failure in the course and dismissal from the University. Since
dishonesty harms the individual, fellow students, and the integrity of the University, policies on scholastic
dishonesty will be strictly enforced. Each student is expected to follow the honor code and behave in accordance
with the rules of the University as outlined in the Code of Student Conduct.

Any student who, because of a disability, may require some special arrangements in order to meet course
requirements should contact the instructor as soon as possible to make necessary accommodations.

Nondiscrimination Statement:
Texas Tech is committed to the principle that in no aspects of its programs shall there be differences in the
treatment of persons because of race, creed, national origin, age, sex, or disability, and that equal opportunity and
access to facilities shall be available to all.
REMINDER: The course syllabus provides a general plan for the course. The instructor reserves the right to make adjustments as necessary for
the appropriate instruction of the course.

Tentative Course Outline

More detailed information on due dates for discussions, assignments, quizzes, and exams can be found on the Blackboard calendar.

Unit                  Week        Topic                 Readings                                         Assignment Due
Introduction          6/1/2011    Navigating the        Instructor Introduction                          (Q1)Syllabus Quiz – Due 6/2/11
                                  Course                Syllabus

                                  Blackboard Basics     Be Familiar with Blackboard                      (D1)Introduction Discussion – Due
                                                        BAII Plus Setup Document                         6/2/11

1 - Introduction to   6/3/2011    Basics of goal        ―Achieving Objectives Made Easy!‖ Text Part 1    (A1)Financial Goal Assignment – Due
Goals                             planning              "Five Principles of Goal Setting" & "Goal        6/7/11
                                                        Setting Basics" Articles
                                  Developing and        ―Achieving Objectives Made Easy!‖ Text Part 2    (D2)Discussion Topic 2 – Due 6/7/11
                                  implementing goals                                                     (Q2) Unit 1 Quiz – Due 6/7/11
2 – Toolbox for       6/8/2011    Emergency Funds       ―Creating a Cash Cushion‖ & " Does Money         (A2)Personal Financial Statements
Goals                                                   Grow on Trees" Articles                          Assignment – Due 6/14/11
                                  Personal Financial    Personal Finance Ch 3: Financial Statements,     (P)Unexpected Expense Paper Topic – Due
                                  Statements            Tools, and Budgets                               6/15/11
                                                        "Wedding Bells" & "Best Budgeting Sites"         (D3)Discussion Topic 3 – Due 6/14/11
                                                        Articles                                         (Q3) Unit 2 Quiz – Due 6/14/11
3 - Ticket to Ride    6/15/2011   Applying TVM          Time Value of Money Document
                                                        Personal Finance Ch 8: Vehicle and Other
                                                        Major Purchases
                                  Buying a New vs. a    "Buying vs. Leasing" Article
                                  Used Vehicle
                                  Steps in Purchasing                                                    (A3)Kelly Bluebook Assignment – Due
                                  a New Vehicle         "Extended Warranties" Article                    6/21/11
                                                        "Great Deals on Used Cars" Article               (D4)Discussion Topic 4 – Due 6/21/11
                                                                                                         (Q4)TVM Quiz – Due 6/21/11
4 - Home Sweet     6/22/2011   Renting                 Personal Finance Ch 9: Buying Your Home        (A4)Credit Score Assignment – Due
Home                                                                                                  6/27/11
                               Home Ownership          Survival Guide Ch 1 - 3                        (A5)House Affordability Assignment –
                                                                                                      Due 6/27/11
                                                       Survival Guide Ch 4 - 5 & Ch 9
                                                                                                      (D5)Discussion Topic 5 – Due 6/29/11
                                                                                                      (Q5) Unit 3 Quiz – Due 6/29/11
                                                       EXAM I (Units 1 - 4) - Due: 7/1/11
                                                       SESSION BREAK                                  (P)Unexpected Expense Paper Rough
                                                                                                      Draft – Due 7/7/11
5 – Paying for     7/6/2011    Assessing needs and     Education Planning Reading                     (A6) Scholarship Assignment – Due
College                        targeting resources                                                    7/9/11
                               Education savings       "College - Keep on Saving" & "Salvaging Your   (A7) Education Planning Assignment –
                               programs                College Savings" Articles                      Due 7/12/11
                                                       "A Better GI Bill" & "GI Bill for Families"
                                                        Further Reading:                              (D6)Discussion Topic 6 – Due 7/12/11
                                                       Education Funding Vehicles , Education         (Q6) Unit 5 Quiz – Due 7/12/11
                                                       Funding—Tax Incentives , & Education
                                                       Planning Resources
6 – Plan for the   7/13/2011   Retirement funding      Personal Finance Ch 17: Retirement Planning    (A8) Retirement Assignment – 7/19/11
Golden Years
                               Types of retirement     ―Best Ways to Raid Your Nest Egg‖, ―Retire     (D7)Discussion Topic 7 – Due 7/19/11
                               plans                   When You Want‖, ―RMD Rules for Retirees‖,      (Q7) Unit 6 Quiz – Due 7/19/11
                                                       & ―Social Security‖ Articles
7 - Other Goals    7/20/2011   Working toward          "Simplify Your Life", Take Control", & "What
and Financial                  other specified goals   to Keep" Articles
                               Unexpected              "12 Money Mistakes", "Frightening Financial    (D8)Discussion Topic 8 - Due 8/2/11
                               Expenses                Mistakes", & "Save $50 and Feel No Pain"       (Q8) Unit 7 Quiz – Due 8/2/11
                                                       Articles                                       (P)Unexpected Expenses Paper Final Draft
                                                                                                      – Due 8/3/11
Goals Planning     8/3/2011                            EXAM II (Units 5-7) - Due: 8/5/11              Course Feedback – Due 8/5/11
Grading Rubric for Discussion Board Postings
Postings to the discussion board will be graded as follows:
                   5 (Excellent)            4 (Good)               3(Fair)              2 (Poor)
Contribution to Required number of          Required number        Required number      Required number
the class          postings met and         of postings met,       of posting met,      of postings met,
                   posting is insightful,   and posting is         posting is           posting is
                   thorough and             thorough and           interesting but      uninteresting and
                   interesting.             interesting.           lacks depth.         not thorough.
Inspires Reply     A serious effort is       A serious effort is   Some effort is       No effort is made
Postings           made to frame the        made to frame the      made to frame the    to frame the
                   posting to encourage     posting to             posting to           posting to
                   reply. The posting       encourage reply.       encourage reply.     encourage reply.
                   should generate
                   questions and open
                   avenues for
Demonstrates       Posting demonstrates Posting                    Posting              Posting does not
Understanding thorough                      demonstrates           demonstrates         demonstrate an
of Reading         understanding of the     understanding of       some                 understanding of
                   reading assignment       the reading            understanding of     the reading
                   and is substantiated     assignment.            the reading          assignment.
                   with examples.                                  assignment.
Grammar and         Posting does not        Posting contains 1     Posting contains 2   Posting contains
Mechanics          contain grammar or       grammar or             grammar or           more than 2
                   spelling errors.         spelling error.        spelling errors.     grammar or
                                                                                        spelling errors.
Timeliness         At least the original     At least the          Both postings are    At least one
                   posting is made 48        original posting is   made on due date.    posting is late.
                   hours before the due      made 24 hours
                   date and both posts       before the due
                   are not made on the       date.
                   same day.

The following are some guidelines and suggestions about discussions:

1.   To earn full points, posts will need to be at least a paragraph long.
2.   If you agree (or disagree) with a post, then say why you agree by supporting your statement with
     concepts from the readings or by bringing in a related example or experience. Avoid simply saying
     ―I agree,‖ or ―I disagree.‖
3.   Address the questions as much as possible.
4.   Try to use quotes from the articles that support your responses. Include page numbers when possible.
5.   Build on other posts to create threads. Feel free to make additional posts if the topic interests you.
6.   Bring in related prior knowledge (work experience, prior coursework, other readings, etc.)
7.   Use proper etiquette (civility, proper language, typing, etc.).

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