Money Mondays!
Week 1. Intro to Finance.
Overview of personal finance and its importance
Basic financial concepts: income, expenses, assets, liabilities, and net worth
Introduction to budgeting and tracking expenses
Understanding the time value of money
Exploring financial goals and setting priorities
Week 2. Fundamentals of Savings.
The importance of saving and building an emergency fund
Strategies for effective saving: budgeting, automating savings, and reducing expenses
Differentiating between short-term and long-term savings goals
Introduction to different types of savings accounts and their features
Discussion on the power of compound interest and its impact on savings
Week 3. Types of Investments.
Overview of investment vehicles: stocks, bonds, mutual funds, and real estate
Evaluating risk and return in investment options
Introduction to asset allocation and diversification
Exploring different investment account types (e.g., individual retirement accounts, 401(k)s)
Discussing the role of investment advisors and robo-advisors
Week 4. Long Term Investing.
Understanding the concept of time value of money and compounding
Exploring the benefits of starting to invest early
Introduction to retirement planning and the power of long-term investing
Evaluating the impact of inflation on long-term investments
Strategies for staying invested during market volatility and economic downturns
Week 5. Debt and Credit.
Overview of different types of debt: credit cards, student loans, mortgages, etc.
Understanding interest rates, credit scores, and credit reports
Developing a debt repayment plan and strategies for managing debt effectively
Discussion on responsible credit card usage and avoiding debt traps
Exploring the benefits of building and maintaining good credit
Week 6. Insurance and Risk Management.
Introduction to different types of insurance: health, life, auto, home, etc.
Evaluating insurance needs based on individual circumstances
Understanding insurance policies, deductibles, and premiums
Exploring risk management strategies and the role of emergency funds
Discussing the importance of estate planning and wills
Week 7. Tax Planning.
Understanding the basics of income taxes and tax brackets
Exploring tax-advantaged investment accounts (e.g., IRAs, 529 plans)
Strategies for minimizing tax liability, including deductions and credits
Introduction to tax-efficient investing and capital gains taxes
Discussion on tax implications of different financial decisions
Week 8. Building a Plan.
Integrating all aspects of personal finance into a comprehensive plan
Developing short-term and long-term financial goals
Creating a personalized budget and savings plan
Reviewing investment strategies and asset allocation
Monitoring progress and adjusting the financial plan as needed