The most practical Personal finance course:

Financial freedom using three levers of saving, investing and increasing income

Welcome to the most practical personal finance course by a certified financial planner having experience of more than 15 years in space of personal finance. who have trained more than 3000 individuals on personal finance and have helped close to 2500 families to plan their financial goals. In his journey of working closely with those families, he got to learn the common mistakes individuals and couples make. This course would help you put your personal finance in the right perspective.

What you’ll learn

  • Present understanding about personal finance.
  • How much you save and how you can save more.
  • Debt management and repayment steps.
  • Tips to save more.
  • Building blocks of personal finance – compounding and real return.
  • Different types of financial instruments and steps to select right financial instrument.
  • Mutual fund and types of mutual funds.
  • How to select most suitable mutual fund for different goals.
  • Protection – different types of risk and insurance products.
  • Different types of financial goals and calculations.
  • Planning for Kid’s education.
  • Planning for kid’s marriage.
  • Planning for self retirement.
  • Estate planning – trust and will writing.
  • What is review and mechanism of review.
  • Suggestions to increase income.

Course Content

  • Introduction –> 3 lectures • 16min.
  • Saving –> 9 lectures • 18min.
  • Manage debt to live stress free life –> 7 lectures • 14min.
  • Investment options –> 16 lectures • 59min.
  • Insurance – A shield against uncertainty –> 12 lectures • 27min.
  • Plan for your critical financial goals –> 9 lectures • 30min.
  • Transfer legacy – Estate planning –> 5 lectures • 9min.
  • Periodic evaluation – Review –> 1 lecture • 5min.
  • Grow competency – increase your income –> 7 lectures • 22min.
  • Take care of your health, God bless you! –> 1 lecture • 5min.

The most practical Personal finance course:

Requirements

Welcome to the most practical personal finance course by a certified financial planner having experience of more than 15 years in space of personal finance. who have trained more than 3000 individuals on personal finance and have helped close to 2500 families to plan their financial goals. In his journey of working closely with those families, he got to learn the common mistakes individuals and couples make. This course would help you put your personal finance in the right perspective.

This is the most practical personal finance course which offers 4 courses in one, 1: Save more money 2: Make your money grow 3: Increase your income 4: Protection from uncertainty.

Also included in this course is an easy step-by-step guide for you to act in four key areas of saving, investing, increasing your income, and protection against uncertainty.

This course would help you check your understanding of the personal-finance and monitor your progress as you complete the course.

There are three levers that would help you to better your financial situation and move closer to financial freedom.

 

Lever 1: – Save more

 

“If you buy things, you don’t need, soon you will have to sell things you need” – Warren Buffet.

 

In this section you would understand why it is important to save money, what is saving ratio and understand if you have a healthy saving ratio, eg. the average Indian save around 30%. You would be able to differentiate between critical and non-critical expenses.

Unique ways of savings

By the end of the section, you should be able to identify three expenses that you can reduce and start an auto-debit to invest.

 

Debt Management: –

 

Better to go to bed hungry than to wake up in debt – Proverb.

this proverb may sound harsh but that’s the reality. And if you have been in debt ever in your life, you would agree with me how important it is to be debt-free, hence a discussion on debt management.

In this topic, we would understand the reasons why we get into debt, which are different types of debt and their rate of interest. Easy step-by-step process to pay off our debt.

By the end of the session, you should be able to list down all your debt on a descending order basis its rate of interest and draw an action plan to repay your debt starting with the highest-interest debt first.

 

Lever 2: – Invest to optimize the returns

 

“The big money is not in the buying and selling but in the waiting. “- Charlie Munger

In this section, you would understand the importance of selecting the right financial instrument. What are compounding and real returns and application of the same? Parameters to consider while selecting the financial instruments. An in-depth discussion about different investment instruments like debt, equity, gold, and real estate. Different types of Mutual funds.

By the end of the section, you should be able to understand different types of financial instruments and select the right financial instrument for different financial goals considering time, return risk, liquidity, ease, and taxation.

Lever 3: – Protection

 

Peace of mind is… Being ready when the storm comes. – Anonymous

 

Here you would understand different types of risk and how to manage it. What is human life value and how to calculate it. How much life insurance you should have? Calculating the amount of accident, health, critical, property insurance cover you should have and amount of contingency fund.

By the end of the session, you should be able to calculate the amount of different insurance cover you should have and design a comprehensive protection plan with a minimum premium amount.

 

Important financial goals calculations

 

“The tragedy of life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.” – Benjamin Mays

 

In this session, you would understand the reasons why most of us don’t plan for our future financial goals. Why is it important to plan for our future financial goals?

Step by the process to calculate your kid’s future education cost and the amount that needs to be invested every month

Step by the process to calculate your kid’s marriage cost and the amount that needs to be invested every month

Step by the process to calculate your retirement cost and the amount that needs to be invested every month.

By the end of the session, you should be able to calculate and plan for your important financial milestones like your kid’s education, marriage, and retirement.

 

Estate Planning

 

Death is not the end. There remains the litigation over the estate. – Ambrose Bierce

As an animal there are only two instincts 1) survival of self and 2) protection and wellbeing of the offspring. Estate planning addresses the second part viz, protection and giving a good start to our next generation. Though there will be fewer complications to it if you have done your estate planning and distribution, however, if not properly stitched then to claim the assets our kids may have to go through the legal hassles, which at least in India may take years to settle the case. That’s what the quote by Ambrose Bierce says- Death is not the end. There remains litigation over the estate.

Here you would understand why it is important to do estate planning, different means of estate planning. A detailed discussion on will writing and trust creation as a tool of estate planning.

 

Review

 

“Without proper self-evaluation, failure is inevitable”. -John Wooden

While I was preparing a presentation on review, I came across two interesting quotes, one which you are read above, without proper self-evaluation, failure is inevitable by John Wooden, and the second one from Socrates – “The unexamined life is not worth living”. Now both the quotes talking about the same thing that is without a proper evaluation or review we would fail both in our finances and life. Therefore, it becomes very essential to do periodic reviews of both our financial goals and life. In this session, you would understand the importance of doing a financial review and how to do it.

 

Lever 4: – Increasing income

 

“It’s simple arithmetic: Your income can grow only to the extent that you do.” —T. Harv Eker

Your income can grow only to the extent that you do. Though it may look simple like your income will grow in proportion to your skills. If I was to elaborate, the more competent you become, you become more capable to solve bigger challenges in the world, and more capable are you to solve bigger challenges, you get paid more. In this part, we would be discussing the benefits of high income and the essential ingredients required to increase your income. I would be also sharing with you a few mistakes of mine, which I don’t want you to repeat.

In this section, you would understand four things to grow your competence and thereby your income

Stay committed to one skill for your entire life

Continuous improvement

Interpersonal skills

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