Personal Financial Planning (COM3MN205) — Syllabus & Course Structure

Lecture Notes • Complete Study Material & Course Outline

Course Details & Structure

Credit	Lecture per week	Tutorial per week	Practical per week	Total Hours
4	3	-	2	75

Pre-requisites: Basic knowledge of financial concepts such as income, expenses, assets, liabilities, budgeting, and savings is important for understanding the fundamentals of personal financial planning.

Course Summary: Personal Financial Planning is a comprehensive course designed to equip individuals with the knowledge and skills necessary to make informed decisions about their personal finances.

Course Outcomes (CO)

CO	Course Outcome Statement	Cognitive Level*	Knowledge Category#	Evaluation Tools Used
CO1	Develop a strong foundation on the concepts of financial literacy, debt management and financial planning.	U	C	Examinations, Quizzes, Assignment, Seminar
CO2	Analyse the personal financial plans.	An	C, P	Examinations, Assignment, Seminar
CO3	Recognize the significance of a well-structured financial plan, understanding its relevance in achieving financial goals and securing financial stability.	E	P	Project, Case study

* Cognitive Levels: Remember (R), Understand (U), Apply (Ap), Analyse (An), Evaluate (E), Create (C)
# Knowledge Categories: Factual Knowledge (F), Conceptual Knowledge (C), Procedural Knowledge (P), Metacognitive Knowledge (M)

Detailed Syllabus

Module	Unit	Content	Hrs
Module I	Personal Finance		10
	1	Meaning — Personal Financial Planning	2
	2	Financial Goals — Financial literacy — Components: Financial Knowledge, Financial Planning	3
	3	Financial attitude and financial discipline — Saving and investment — Guidelines for savings and investment — 50-30-20 principle, Ponzi schemes	3
	4	Time Value of Money — Discounting — Compounding — Rule of 72	2
Module II	Debt Management		10
	1	Budgeting income and payments	2
	2	Personal Financial Deficit — Financing Alternatives: Personal Loan, Housing Loan	2
	3	Education Loan, Vehicle loan, Credit Card and EMI	3
	4	Good and Bad Debt — Net worth — Credit Score (CIBIL Score) — Credit Report	3
Module III	Insurance		12
	1	Meaning, Need for insurance	2
	2	Insurance and wagering	2
	3	Types of insurance: Life and non-life insurance	2
	4	ULIP (Unit Linked Insurance Plans)	2
	5	Tax benefit schemes	2
	6	Benefits of insurance, Limitations of Insurance	2
Module IV	Tax and Retirement Planning		13
	1	Personal tax planning	2
	2	Income tax exemptions and deductions available to individuals	2
	3	Concept of tax evasion & tax avoidance and Pension plans available in India	2
	4	NPS, APY, Pension schemes of mutual funds	5
	5	Reverse Mortgage	2
Module V	Open ended module for practical exercises: Assign students to create personal budgets based on different income levels, expenses, and financial goals. Organize debt management games where students learn about different types of debt, debt repayment strategies, and the impact of interest rates on debt repayment. Assign students to research and develop retirement plans based on their age, income, savings, and retirement goals. Assign students to complete tax planning exercises where they learn about tax deductions, credits, and strategies to minimize taxes.		30

Recommended Reference Books

M.N. Mishra — Insurance Principles & Practices.
Kothari & Bahl — Principles and Practices of Insurance.
E. Srinivasan T, Vijay Nicole — Income Tax Law And Practice AY 2023-2024.
Chandni Rani, Chetana M H, Vinayak L Hedge — Financial Markets and Services.

Personal Financial Planning (COM3MN205) — Syllabus & Course Structure

Course Details & Structure

Course Outcomes (CO)

Detailed Syllabus

Recommended Reference Books

Download Official Syllabus Notes (PDF)

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