MyEducator is very excited to announce a new finance resource! Introducing Personal Finance and Economic Decision-Making, a tool to help students understand how to manage finances and make good financial decisions. Who couldn’t use a little more help in those departments? And on top of being a really great practical resource, Personal Finance and Economic Decision-Making has a couple of tricks up its sleeve to make mastering personal finance easier to understand and apply, even for those who are not financial wizards.
In Personal Finance and Economic Decision-Making, students will get an in-depth and practical look at the following topics:
• The financial system
• The time value of money
• Money and banking
• Retirement planning
• Credit and borrowing
• Real estate
• Personal financial statements
• The role of risk in personal finance
• Behavioral finance
The resource starts by laying the foundation of a good understanding of the financial system, including how banks work and the role of credit. It then takes a close look at how to manage your own finances, including the roles of budgets, personal financial statements, investing, and planning for retirement. The resource finishes off with an analysis of behavioral economics and how psychology can affect financial choices.
Why It’s Useful
These topics will give readers the foundation they need to make smart money choices to set them up for financial success. Not only will readers gain a foundational knowledge of how money works within the financial system, but they will also come to understand why they may be making the decisions they are, how to think about money and financial decisions they are faced with, and what to do with their money, now and in the future.
In addition to the approach taken and powerful information in Personal Finance and Economic Decision-Making, the course also contains several tools to help students internalize its lessons.
Within the chapters that discuss calculations, the resource provides an embedded Excel calculator configured to solve the included financial equations. Students have a tool to help them with complex financial calculations at their fingertips! These sheets can also be downloaded so that students can use them offline and after they complete the course.
Each time a new calculation is discussed, the resource provides several scenarios as opportunities for students to practice performing the relevant calculations. These practice opportunities cement the knowledge through repetition and also give the students an idea of how the principles can be applied to different situations, including their own.
The resource contains two surveys that will allow students to get a feel for their own proclivities in finance. These surveys highlight tendencies we all experience to some degree, such as how averse we are to risk and how outside influences might impact our decision-making. By seeing these principles in themselves and discussing their significance, students will be better able to recognize when these principles are playing a role in their daily lives and analyze if that impact is positive or negative.
Personal Finance and Economic Decision-Making is a
powerful resource for teaching the importance of financial literacy and how to
apply financial principles in daily life. Contact MyEducator to try a demo of
this exciting new resource today!