Module Details
| Module Code: |
FINA7005 |
| Title: |
Household Finance & Planning
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Long Title:
|
Household Finance & Planning
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| NFQ Level: |
Intermediate |
| Valid From: |
Semester 2 - 2020/21 ( January 2021 ) |
| Field of Study: |
3430 - Banking, Finance and Investment
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| 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).
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| 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).
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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.
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| No incompatible modules listed |
Co-requisite Modules
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| 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.
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| No requirements listed |
| Indicative Content |
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Savings & Investment Products
Savings products, risk/return trade-off, Cumulative Annual Rates (CAR).
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Loans
Loan products, e.g. mortgage, credit rating, Annual Percentage Rates (APR)
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Insurance & Pensions
Overview of insurance & pensions, principles of insurance, insurance calculations, personal & household insurance policies, Retirement planning, defined benefit, defined contribution, annuities and perpetuities
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Social welfare supplements
Department of Employment Affairs & Social Protection (DEASP); family income supports; health supports (benefits); unemployment supports (benefits); Education grants, etc.
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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
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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.
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Module Content & Assessment
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| Assessment Breakdown | % |
|---|
| Coursework | 100.00% |
Assessments
| 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 |
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Module Resources
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| Recommended Book Resources |
|---|
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Anne Marie Ward. (2016), An Introduction to Personal Finance, 4th. Chartered Accountants Ireland Publishing, [ISBN: 978-1-910374-].
| | Supplementary Book Resources |
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Neil Brooks, Sandra Gannon, Jill Kerby. TAB Guide to Money, Pensions and Tax, updated annually.
| | Recommended Article/Paper Resources |
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Journal of Family & Consumer
Sciences,
| | Other Resources |
|---|
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website, Independent.ie. Personal Finance,
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website, Irish Times. Your Money: Personal Finance,
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website, Competition & Consumer Protection
Commission (CCPC). Money Tools,
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website, Revenue Commissioners,. Revenue Online Service,
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website, Government of Ireland,. All Services,
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website, Citizens Information Board,. My Situation,
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