Financial Planning for Young Adults

University of Illinois at Urbana-Champaign

About this Course

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Financial Planning for Young Adults (FPYA), developed in partnership with the CFP Board, is designed to provide an introduction to basic financial planning concepts for young adults. The FPYA course is organized across eight separate modules within a 4-week window. Topics covered include financial goal setting, saving and investing, budgeting, financial risk, borrowing and credit. Because financial planning is such a personal topic, you will be encouraged to define your own financial goals and objectives while we discuss concepts and provide tools which can be applied in helping you reach those goals.
Within each module, you will view a combination of traditional lecture style videos along with video vignettes that introduce financial topics for discussion among participants. The video vignettes provide a unique and exciting component to this course. Each vignette introduces a real-world scenario where financial decisions must be made and financial planning concepts can be applied. You will be challenged to think critically about each scenario and decide how you might come to a resolution if ever faced with a similar situation.

Finally, the course also includes material throughout which is focused on career opportunities in financial planning, including video interviews with actual CFP® professionals and other professionals working in this exciting and growing career area. The final module in the class is devoted to the topic of financial planning as a career.

Learner Career Outcomes

25%

started a new career after completing these courses

25%

got a tangible career benefit from this course

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Beginner Level

Approx. 20 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Chinese (Simplified), Italian, Vietnamese, Korean, German, Russian, Turkish, English, Spanish

Skills you will gain

Risk ManagementBudgetSavingInvestment

Learner Career Outcomes

25%

started a new career after completing these courses

25%

got a tangible career benefit from this course

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Beginner Level

Approx. 20 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Chinese (Simplified), Italian, Vietnamese, Korean, German, Russian, Turkish, English, Spanish

Instructors

Instructor rating

4.59/5 (85 Ratings)

Offered by

University of Illinois at Urbana-Champaign

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.

Syllabus - What you will learn from this course

Content Rating95%(3,876 ratings)

Week

Week 1

2 hours to complete

Orientation

2 hours to complete

2 videos (Total 4 min), 5 readings, 2 quizzes

2 videos

Instructor Welcome2m

Course Overview1m

5 readings

Course Syllabus10m

About the Discussion Forums10m

Social Media10m

Updating Your Profile10m

About the Financial Literacy Quiz Pretest10m

2 practice exercises

Orientation Quiz30m

Financial Literacy Pretest30m

3 hours to complete

Module 1: Setting Financial Goals and Assessing Your Situation

In this module, you'll explore the "personal" in personal finance, use financial tools to assess where you are currently with your finances, and begin setting goals for where you'd like to be in the future.

3 hours to complete

7 videos (Total 41 min), 2 readings, 2 quizzes

7 videos

Street Interview: If Money Were No Object...2m

Lecture: Dream Big5m

Vignette: Belize for Spring Break?2m

Lecture: What Influences Our Financial Decisions?11m

Vignette: Education, Retirement, or Fun?3m

Lecture: Where Are You Now?9m

Lecture: Turning Dreams into Goals7m

2 readings

Module 1 Overview10m

Reading: Exploring Money Personalities Further10m

1 practice exercise

Module 1: Financial Goals & Assessing Your Situation Quiz30m

Week

Week 2

3 hours to complete

Module 2: Budgeting and Cash Flow Management

In this module, we will discuss the importance of budgeting in the financial planning and management process, and resources available for cash flow management. Learners will be exposed to the basic process of budgeting, a panel discussion with practicing investment advisors, and a comparative discussion of the more common tools and methods for managing cash flows.

3 hours to complete

8 videos (Total 60 min), 1 reading, 2 quizzes

8 videos

Street Interview: Do You Keep Track of Your Monthly Expenses?2m

Lecture: Budgeting Overview14m

Street Interview: How Can You Avoid Overspending?2m

Interview: Investment Advisor Interview7m

Vignette: Creating a Budget2m

Lecture: Financial Services14m

Lecture: Alternatives to Cash14m

Street Interview: What Are the Pros and Cons of Using a Credit Card?2m

1 reading

Module 2 Overview10m

1 practice exercise

Module 2: Budgeting and Cash Flow Management Quiz30m

2 hours to complete

Module 3: Saving Strategies

In this module you'll have the opportunity to explore best practices for building a saving habit and discuss barriers to saving. Mental accounting will be introduced and considered in terms of how it can affect saving behavior.

2 hours to complete

7 videos (Total 40 min), 2 readings, 2 quizzes

7 videos

Street Interview: Do You Set Aside Money for Emergencies?1m

Lecture: Why Save Money?8m

Lecture: How to Start Saving Money10m

Vignette: Set a Savings Goal2m

Lecture: Build a Savings Habit5m

Street Interview: What Are Some Barriers to Saving Money?1m

Lecture: Barriers to Saving8m

2 readings

Module 3 Overview10m

Reading: America Saves15m

1 practice exercise

Module 3: Saving Strategies30m

1 hour to complete

Module 4: The Time Value of Money

Understanding why the time value of money is a very important concept -- so important it has its own module!

1 hour to complete

1 video (Total 14 min), 1 reading, 1 quiz

1 video

Lecture: Time Value of Money14m

1 reading

Module 4 Overview10m

1 practice exercise

Module 4: Time Value of Money30m

Week

Week 3

2 hours to complete

Module 5: Borrowing and Credit

The ability to use debt and credit to finance purchases has its advantages and disadvantages. Understanding topics related to loan repayment and how your borrowing and credit use behavior may impact your credit report is critical for being able to have access to debt and credit use in the future.

2 hours to complete

11 videos (Total 59 min), 1 reading, 1 quiz

11 videos

Lecture: Loans and Consumer Credit5m

Lecture: Borrowing and Credit: Pros and Cons8m

Lecture: Loan Amortization Part One5m

Lecture: Loan Amortization Part Two6m

Lecture: Loan Amortization Part Three5m

Vignette: What Is a Credit Report?2m

Lecture: Credit Reports10m

Lecture: Credit Scores9m

Loan Denial Testimonial: Bad Credit History1m

Loan Denial Testimonial: No Credit History1m

Loan Denial Testimonial: Identity Theft1m

1 reading

Module 5 Overview10m

1 practice exercise

Module 5: Borrowing and Credit30m

2 hours to complete

Module 6: Investing

In this module you'll be introduced to investment terms and key investment strategies. This foundation will allow you to better understand investment choices and information that you'll encounter throughout your life.

2 hours to complete

7 videos (Total 48 min), 2 readings, 1 quiz

7 videos

Street Interview: How Would You Invest $100,000?1m

Lecture: Introduction to Investing Terms13m

Lecture: Understanding Investment Risk6m

Street Interview: What Does It Mean to Diversify Investments?1m

Lecture: Diversify Your Investments9m

Vignette: When to Start Saving for Retirement?2m

Lecture: Investing Tips for Young Adults13m

2 readings

Module 6 Overview10m

Building on Your Knowledge10m

1 practice exercise

Module 6 Investing30m

Week

Week 4

3 hours to complete

Module 7: Risk Management

This module covers risk related topics related to insurance, and introduces learners to the concept of personal risk tolerance and how it might impact individualized risk management strategies.

3 hours to complete

7 videos (Total 68 min), 2 readings, 2 quizzes

7 videos

Lecture: Risk Management Overview11m

Street Interview: Why Do You Buy Insurance?1m

Lecture: Insurance Basics21m

Street Interview: What Determines the Cost of Insurance?1m

Lecture: Life Insurance13m

Vignette: Are You Ready for Life Insurance?4m

Lecture: Insurance Risk Panel Discussion15m

2 readings

Module 7 Overview10m

Financial Literacy Quiz5m

2 practice exercises

Post-Test Financial Literacy30m

Risk Management Quiz30m

2 hours to complete

Module 8: Financial Planning as a Career

The module provides an overview of the career opportunities in financial planning. You will get to see what it is like to engage and assist people (clients) from a variety of walks-of life. This module is optional in terms of completion of the course certificate. There is no required assignment in this module.

2 hours to complete

8 videos (Total 57 min), 2 readings, 1 quiz

8 videos

Street Interview: What Does a Financial Planner Do?1m

Lecture: Financial Planning as a Career Part One8m

Mock-Up Video: Middle-Age Couple Meeting with a Financial Planner3m

Mock-Up Video: Young Client Meeting with a Financial Planner3m

Lecture: Financial Planning as a Career Part Two20m

Interview: Interview with a Financial Planner Video One8m

Interview: Interview with a Financial Planner Video Two7m

I Am A CFP® Pro: Campaign Spokepeople2m

2 readings

Module 8 Overview10m

CFPPro.org10m

1 practice exercise

Financial Planning as a Career Quiz30m

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You’ll be prompted to complete an application and will be notified if you are approved. Learn more.
Will I earn university credit for completing the Course?
This Course doesn't carry university credit, but some universities may choose to accept Course Certificates for credit. Check with your institution to learn more. Online Degrees and Mastertrack™ Certificates on Coursera provide the opportunity to earn university credit.

More questions? Visit the Learner Help Center.

Financial Planning for Young Adults