FINA 250 Module 1: Financial Planning

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  • Explain why personal financial planning is so important
  • Describe the five basic steps of personal financial planning
  • Set your financial goals
  • Explain how career management and education can determine your income level
  • List ten principles of personal finance

Reading For This Module:

Chapter 1 – Keown, Arthur, “Personal Finance: Turning Money into Wealth, Prentice Hall Publishing. 6th edition

The Financial Process (textbook PowerPoint lecture) (.pptx 500KB 42SL)

Opening Vignettes:

Watch the following videos to help set the stage as to why Financial Planning is so important.

Building Long Term Wealth (video) (3:17) (opens in new window)

Building Long Term Wealth

Road to Retirement Commercial w/ Dennis Hopper (video) (00:29) (opens in new window)

Dennis Hopper - Road to Retirement


This section establishes the importance of financial planning as a continuing process for achieving current and future financial, or lifestyle, objectives. A five-step process for personal financial planning is introduced.

Setting financial goals is established as the cornerstone of the financial plan. The three stages of the financial life cycle provide a framework for considering the evolution of a financial plan in response to changing goals.

The relationships among education, earnings potential, career choice, and career management are established.

Dr. Waller Lecture: Financial Planning (video) (36:33)

This video lecture discusses financial planning and corresponds with Chapter 1 in textbook.

Financial Planning PowerPoint Lecture (.pptx 800KB 29SL)


  • Personal financial planning allows you to manage your finances and achieve life cycle financial goals
  • There are five basic steps to personal financial planning
  • Set your financial goals in order to achieve them with a financial plan
  • An emergency fund can help protect yourself in the event of an economic downturn
  • The more educated your are, the more you will earn
  • There are ten basic principles on which personal financial planning is built

Practice Quiz (does not count toward grade)

Open practice quiz


Take the quiz for this module on Canvas.

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Additional Optional Resources that may be helpful to you with this module:

Please print out, read and complete the worksheets below. These exercises are for your benefit and will not be collected or graded.

Take Charge of Your Finances (pptx 1.13MB 9SL)
Take Charge of your Finances Financial Worksheet (PDF 192KB 2PP)
Money in Your Life Financial Planning Worksheet (PDF 300KB 3PP)


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