Personal Financial Planning
Subject Overview
Personal Financial Planning is the third Finance elective — how an individual (rather than a company) actually plans their money. You'll cover the fundamentals and environmental factors of personal financial planning, time value of money applied to personal financial statements and risk management, investment planning and instruments available to individuals, and close with retirement and estate planning. This is a 6-credit elective paper across 4 units, directly useful for personal money management regardless of career path.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Personal financial planning fundamentals
Introduction, features, objectives and scope of personal financial planning, screening and analysis of environmental factors affecting personal financial planning
Unit 2: Time value of money & risk management
Meaning and calculation of present and future value, factors affecting time value of money and personal financial statements, personal risk measurement and identification, life and general insurance planning
Unit 3: Investment planning
Meaning, process, importance and objectives of investment planning, tax-saving instruments, mutual fund schemes, fixed income securities (government bonds, corporate debt, bank deposits, post office schemes), capital and money market instruments, real assets
Unit 4: Retirement & estate planning
Meaning, nature, importance, scope and process of retirement planning, meaning, nature, importance, scope and documentation of estate planning