Module Details

Module Code: FINA7005
Title: Household Finance & Planning
Long Title: Household Finance & Planning
NFQ Level: Intermediate
Valid From: Semester 2 - 2020/21 ( January 2021 )
Duration: 1 Semester
Credits: 5
Field of Study: 3430 - Banking, Finance and Investment
Module Delivered in: 1 programme(s)
Module Description: This module aims to equip students with the knowledge and understanding to allow them to engage in financial planning for individuals, as well as various types of households. This would foster a life-long learning approach (SDG 4) to the management of personal finances. This approach and subsequent knowledge gained should contribute to reducing inequality (SDG 10) and to ensuring that institutions are held to effective, accountable and inclusive standards (SDG 16).
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Evaluate savings and investment products with reference to terms and conditions and calculations of cumulative annual rates (CAR).
LO2 Explain loans and interpret credit rating with reference to implications for borrowing rates (loan annual percentage rates (APR)).
LO3 Apply the principles of insurance and evaluate various insurance products & pension schemes.
LO4 Analyse the range of social welfare supplements and government support initiatives available to a household in Ireland.
LO5 Utilise a range of online supports to assist with personal and household finance.
LO6 Prioritise financial needs for individuals and households with varying degrees of wealth.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
 
Indicative Content
Savings & Investment Products
Savings products, risk/return trade-off, Cumulative Annual Rates (CAR).
Loans
Loan products, e.g. mortgage, credit rating, Annual Percentage Rates (APR)
Insurance & Pensions
Overview of insurance & pensions, principles of insurance, insurance calculations, personal & household insurance policies, Retirement planning, defined benefit, defined contribution, annuities and perpetuities
Social welfare supplements
Department of Employment Affairs & Social Protection (DEASP); family income supports; health supports (benefits); unemployment supports (benefits); Education grants, etc.
Online supports to assist with personal and household finance.
Revenue online; how to file a personal annual tax return including how to claim tax credits and how to claim medical expenses; Competition & Consumer Protection Commission (CCPC); comparative websites; Citizens Advice
Prioritise individual & household financial needs
Managing conflicting personal finance objectives; prioritise spending based on needs, wants & savings; examine ways to save money & improve the financial health of an individual or family household.
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Essay % of Total Mark 20
Timing Week 4 Learning Outcomes 1
Assessment Description
Students must create short report based on a prescribed case study, to recommend 3 savings and investment products for an individual or family household.
Assessment Type Multiple Choice Questions % of Total Mark 30
Timing Week 9 Learning Outcomes 2,3,4
Assessment Description
MCQs to examine the theory and calculation of financial products
Assessment Type Essay % of Total Mark 50
Timing Week 13 Learning Outcomes 1,2,3,4,5,6
Assessment Description
Students must write an essay based on a prescribed case study, to recommend personal finance advice for an individual and/or household.
No End of Module Formal Examination
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Lecture / Classroom discussion Every Week 3.00 3
Independent & Directed Learning (Non-contact) Non Contact Research and Reading Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Lecture / Classroom Discussion Every Week 2.00 2
Independent & Directed Learning (Non-contact) Non Contact Research and Reading Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Anne Marie Ward. (2016), An Introduction to Personal Finance, 4th. Chartered Accountants Ireland Publishing, [ISBN: 978-1-910374-].
Supplementary Book Resources
  • Neil Brooks, Sandra Gannon, Jill Kerby. TAB Guide to Money, Pensions and Tax, updated annually.
Recommended Article/Paper Resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_FHEBU_8 Bachelor of Arts (Honours) in Home Economics and Business 1 Mandatory