Common Course Outline

Course discipline/number/title BUS 2101: Personal Finance

Catalog Description

Credits 3
Hours/Week 3
Prerequisites (Course discipline/number) None
Other requirements None
MnTC Goals (if any) NA

Course Description

This course covers fundamental concepts of personal financial management, focusing on the major personal financial planning situations that individuals and families encounter. Money management topics include: budgets, banking, tax strategies, investments, credit, insurance, real estate, interest, pension investments, and retirement planning. College level reading is recommended for this course.

Date Last Revised (Month, year)

March, 2026

Outline of Major Content Areas

  1. Financial Planning Process and Career Planning
  2. Basic Personal Finance Mathematical Concepts
  3. Financial Statements and Plans
  4. Tax Management
  5. Cash and Saving Management
  6. Automobile and Housing Decisions
  7. Credit Management
  8. Insurance Needs – Life, Health, Disability, and Property
  9. Investments
  10. Stock, Bonds, and Mutual Funds
  11. Retirement Planning

Learning Outcomes (General)

The student will be able to:

  1. Identify the benefits of using personal financial planning techniques to manage finances.
  2. Explain and justify individual personal financial applications.
  3. Create common financial statements such as a balance sheet, budget, and cash-flow statements.
  4. Formulate individual tax strategies.
  5. Recommend methods of good cash management in the personal financial planning process.
  6. Construct appropriate steps to making wise purchases.
  7. Identify the benefits and problems of using consumer credit.
  8. Articulate the role insurance planning plays in personal financial planning, and the relationship between risk and insurance.
  9. Generalize the role investment plays in the personal financial planning process.
  10. Demonstrate ability to calculate common financial equations using interest and present/future value of investments.
  11. Recognize the importance of retirement planning and investing.

Learning Outcomes (MnTC)

NA

Methods for Evaluation of Student Learning

Methods may include but are not limited to:

RCTC Core Outcome(s)

This course contributes to meeting the following RCTC Core Outcome(s):

Critical Thinking
Students will think systematically and explore information thoroughly before accepting or formulating a position or conclusion.

Special Information (if any)

None