BA 245 - Personal Finance and Lending

3 Credits
Outline Effective Date: 2023 Fall Version 4
Revised: Aug 30, 2023
Approved: Aug 30, 2023

Course Description:
This course provides the foundations of personal financial planning in a rigorous conceptual and practical framework and a thorough coverage of all major aspects of family and individual personal finances ranging from budgeting to estate planning. Students acquire expertise in preparing a personal financial plan.

Rationale:
This is a required course for the Agribusiness diploma to ensure that these students acquire a comprehensive knowledge base of personal financial planning. Students learn the foundations of personal financial planning as the first step in taking charge of their financial future; working to manage their own family’s finances using sound principles to achieve their financial goals.

Prerequisites: None
Corequisites: None

Course Learning Outcomes:
Upon successful completion of this course, students will be able to

compile and use the basic tools supporting personal financial planning such as the net worth statement, family income Statement, and a budget.
explain the basics of personal income tax as it relates to financial planning.
identify and compare the services offered by financial institutions.
summarize different sources of credit and the advantages and disadvantages of each.
outline the process of selecting and securing major purchases such as a home and automobile.
identify the different types of insurance and assess the amount of insurance needed.
discuss the concepts of investing in different portfolios and make investment decisions within a small stock portfolio.
describe the planning process leading up to retirement and the process of estate planning.

Required Resource Materials:
Madura, Jeff, and Hardeep Gill. Personal Finance Fourth Canadian Edition. Toronto, Ontario.

Pearson Canada Inc., 2019. Print or Digital.

Financial Calculator (HP 10bII is recommended).

Financial Planning Book of your choice.

Optional Resource Materials:
None

Conduct of Course:
This course is delivered through a combination of PowerPoint presentations, classroom discussions, group activities, handouts, presentations and analyzing examples.

Financial experts may be invited to speak on specific topics.

All students are expected to demonstrate a high level of participation.

Other financial planning software available through the textbook publisher or on the Internet may be used to develop a comprehensive scenario based financial plan integrating all components of financial planning concepts covered in the course.

Classroom and laboratory attendance is considered vital to the learning process and as significant to the students’ evaluation as examinations and reports.

Students having a combination of excused and/or unexcused absence of 20 percent or higher for the scheduled course hours will be required to withdraw and will automatically receive a “RW” (required withdrawal) for the course, regardless of any other evaluation results. (RW is a failing grade.).
An excused absence is one that is verified with your instructor. Verification should be prior to the absence or the next class day following the absence. Verification of the absence may take the form of a note from your doctor/College nurse regarding illness, or a note from another instructor regarding a field trip or other activity, or authorization by your instructor. An unexcused absence is anything NOT verified by the instructor prior to the absence or the next class day following the absence.

NOTE: Any exceptions to the above attendance policy (e.g. timetable conflicts, work-related issues) must be approved in writing by the Department Chair prior to the beginning of the course.

It is the students’ responsibility to know their own absentee record.

Normal hours are 8:30 a.m. to 6:30 p.m., with potential for evening courses, exams, or extended field trips. Students are expected to be available for classes during these times.

Content of Course:

Part	Topic
1	Tools for Financial Planning
2	Personal Investing
3	Managing your Financial Resources
4	Protecting your Wealth
5	Retirement and Estate Planning
6	Synthesis of Financial Planning

Course Assessments:

Projects	45%
Book Review	25%
Final Project	30%
Total	100%

Official final grades will be available on My Lakeland. Grades posted in D2L should be considered interim grades.
“Lakeland College is committed to the highest academic standards. Students are expected to be familiar with Lakeland College policies and to abide by these policies. Violations of these policies are considered to be serious and may result in suspension or expulsion from the College.”

Course Pass Requirements:
A minimum grade of D (50%) (1.00) is required to pass this course.

Letter	F	D	D+	C-	C	C+	B-	B	B+	A-	A	A+
Percent Range	0-49	50-52	53-56	57-59	60-64	65-69	70-74	75-79	80-84	85-89	90-94	95-100
Points	0.00	1.00	1.30	1.70	2.00	2.30	2.70	3.00	3.30	3.70	4.00	4.00

Students must maintain a cumulative grade of C (GPA - Grade Point Average of 2.00) in order to qualify to graduate.

Every effort has been made to ensure that information in this course outline is accurate at the time of publication. Lakeland College reserves the right to change courses if it becomes necessary so that course content remains relevant.

In such cases, the instructor will give students clear and timely notice of changes.

No part of this course outline may be reproduced in any form or resold without written permission from Lakeland College.

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Here at Lakeland College, we acknowledge that the land we gather on is the traditional homeland, hunting, and ceremonial gathering places of the First Nations, Métis and Inuit. The Plains Cree, Woodland Cree, Saulteaux, Blackfoot, Métis, Dene, and Nakota Sioux people have practiced their culture and languages on Treaty 6 and Métis Region 2 territories for generations and were the original caretakers of this land. Many First Nation, Métis and Inuit peoples call this land home today and have done so for millennia. We would like to acknowledge the history we have created together on this land, and to be thankful for the opportunity to walk together side-by-side in friendship, learning from our past, and promoting positive relationships for the past, present and future.