Course Objectives:
- Understand the fundamentals of personal finance.
- Learn to create and manage budgets.
- Gain knowledge about saving, investing, and retirement planning.
- Develop skills to manage credit and debt.
- Learn about insurance and risk management.
- Understand the basics of tax planning and filing.
Course Schedule:
Month 1: Introduction to Personal Finance and Budgeting
Class 1: Introduction to Personal Finance
- Importance of personal finance
- Financial goals and planning
- Overview of the course
Class 2: Income and Expenses
- Understanding sources of income
- Identifying and categorizing expenses
- Difference between fixed and variable expenses
Class 3: Budgeting Basics
- What is a budget?
- Steps to create a budget
- Tools and apps for budgeting
Class 4: Advanced Budgeting Techniques
- Adjusting and maintaining your budget
- Dealing with irregular income
- Budgeting for special occasions and emergencies
Month 2: Saving, Investing, and Credit Management
Class 5: Saving and Emergency Funds
- Importance of saving
- How to build an emergency fund
- Strategies for effective saving
Class 6: Introduction to Investing
- Why invest?
- Types of investments (stocks, bonds, mutual funds, etc.)
- Risk vs. return
Class 7: Investing in the Indian Context
- Overview of Indian stock market
- Popular investment options in India
- Regulatory framework and taxation on investments
Class 8: Credit and Debt Management
- Understanding credit scores
- Types of credit (credit cards, loans, etc.)
- Strategies to manage and reduce debt
Month 3: Insurance, Retirement, and Tax Planning
Class 9: Insurance and Risk Management
- Types of insurance (life, health, property, etc.)
- Importance of insurance
- Choosing the right insurance policy
Class 10: Retirement Planning
- Importance of early retirement planning
- Types of retirement accounts and schemes in India (EPF, PPF, NPS, etc.)
- Strategies for retirement savings
Class 11: Tax Planning and Filing
- Basics of income tax in India
- Deductions and exemptions
- How to file income tax returns
Class 12: Course Review and Case Studies
- Review of key concepts
- Analyzing personal finance case studies
- Q&A session and feedback