This experience is optimized for Internet Explorer version 9 and above.

Please upgrade your browser

Send the Gift of Lifelong Learning!

Money Management Skills

Money Management Skills

Professor Michael Finke,
Texas Tech University

Gifting Information

FAQ
FAQ

To send your gift, please complete the form below. An email will be sent immediately to notify the recipient of your gift and provide them with instructions to redeem it.

  • 500 characters remaining.

Frequently Asked Questions

With an eGift, you can instantly send a Great Course to a friend or loved one via email. It's simple:
1. Find the course you would like to eGift.
2. Under "Choose a Format", click on Video Download or Audio Download.
3. Click 'Send e-Gift'
4. Fill out the details on the next page. You will need to the email address of your friend or family member.
5. Proceed with the checkout process as usual.
Q: Why do I need to specify the email of the recipient?
A: We will send that person an email to notify them of your gift. If they are already a customer, they will be able to add the gift to their My Digital Library and mobile apps. If they are not yet a customer, we will help them set up a new account so they can enjoy their course in their My Digital Library or via our free mobile apps.
Q: How will my friend or family member know they have a gift?
A: They will receive an email from The Great Courses notifying them of your eGift. The email will direct them to TheGreatCourses.com. If they are already a customer, they will be able to add the gift to their My Digital Library and mobile apps. If they are not yet a customer, we will help them set up a new account so they can enjoy their course in their My Digital Library or via our free mobile apps.
Q: What if my friend or family member does not receive the email?
A: If the email notification is missing, first check your Spam folder. Depending on your email provider, it may have mistakenly been flagged as spam. If it is not found, please email customer service at (customerservice@thegreatcourses.com) or call 1-800-832-2412 for assistance.
Q: How will I know they have received my eGift?
A: When the recipient clicks on their email and redeems their eGift, you will automatically receive an email notification.
Q: What if I do not receive the notification that the eGift has been redeemed?
A: If the email notification is missing, first check your Spam folder. Depending on your email provider, it may have mistakenly been flagged as spam. If it is not found, please email customer service at (customerservice@thegreatcourses.com) or call customer service at 1-800-832-2412 for assistance.
Q: I don't want to send downloads. How do I gift DVDs or CDs?
A: eGifting only covers digital products. To purchase a DVD or CD version of a course and mail it to a friend, please call customer service at 1-800-832-2412 for assistance.
Q: Oops! The recipient already owns the course I gifted. What now?
A: Great minds think alike! We can exchange the eGifted course for another course of equal value. Please call customer service at 1-800-832-2412 for assistance.
Q: Can I update or change my email address?
A: Yes, you can. Go to My Account to change your email address.
Q: Can I select a date in the future to send my eGift?
A: Sorry, this feature is not available yet. We are working on adding it in the future.
Q: What if the email associated with eGift is not for my regular Great Course account?
A: Please please email customer service at (customerservice@thegreatcourses.com) or call our customer service team at 1-800-832-2412 for assistance. They have the ability to update the email address so you can put in your correct account.
Q: When purchasing a gift for someone, why do I have to create an account?
A: This is done for two reasons. One is so you can track the purchase of the order in your ‘order history’ section as well as being able to let our customer service team track your purchase and the person who received it if the need arises.
Q: Can I return or Exchange a gift after I purchase it?
A: Because the gift is sent immediately, it cannot be returned or exchanged by the person giving the gift. The recipient can exchange the gift for another course of equal or lesser value, or pay the difference on a more expensive item

Priority Code

Cancel

Money Management Skills

Course No. 5231
Professor Michael Finke,
Texas Tech University
Share This Course
4.5 out of 5
37 Reviews
86% of reviewers would recommend this series
Course No. 5231
  • Audio or Video?
  • You should buy audio if you would enjoy the convenience of experiencing this course while driving, exercising, etc. While the video does contain visual elements, the professor presents the material in an engaging and clear manner, so the visuals are not necessary to understand the concepts. Additionally, the audio audience may refer to the accompanying course guidebook for names, works, and examples that are cited throughout the course.
  • You should buy video if you prefer learning visually and wish to take advantage of the visual elements featured in this course. The video version is not heavily illustrated, featuring a variety of visuals designed to aid in your understanding of the course material. These include helpful charts and diagrams that allow you to better visualize cash flows and successful financial plans, as well as photographs and illustrations highlighting concepts including the life cycle theory for making financial decisions throughout your life.
Streaming Included Free

What Will You Learn?

  • Learn how to properly use money management tools, including mutual funds, stocks, and bonds.
  • Explore the pros and cons of different major investments, including college, retirement, and home ownership.
  • Build a comprehensive financial plan that will help you achieve your unique financial goals.

Course Overview

Money management can be intimidating, but the good news is that the newest research into the human brain can help us understand why we make mistakes and how we can create an effective plan to meet our financial goals. Learning to navigate complex financial markets and create good financial habits is essential to the all-important goal of gaining control over our financial future.

Money management requires knowledge of financial products, investment and risk theory, and essential tax rules. But it also requires an understanding of how we as fallible humans make mistakes. These lectures will go beyond the advice of a traditional money management course and delve into the emerging science of financial decision-making. With this course, you’ll learn how to overcome your brain’s programming and avoid following your emotions down the wrong financial path.

The goal of money management is to maximize our happiness at every stage of our lives. Whether you are a novice investor or a seasoned pro, a young person getting started in life or a Baby Boomer contemplating retirement, Money Management Skills is an excellent primer for creating financial security. Taught by financial expert and Texas Tech University professor Michael Finke, these 12 practical lectures will boost your confidence around money management. This is not a course for big investors looking for the next hot stock. Rather, these lectures are for regular people who want to make sound financial decisions without obsessing over the daily changes in the market.

For most of us, a few basic principles of money management can help us get our financial houses in order, answering such questions as:

  • What are the optimal uses of credit and debt?
  • Is home ownership actually a good investment?
  • How much insurance do I really need?
  • Where should I invest my money?
  • What should I do to prepare for retirement?

Money Management Skills takes you on a tour of some of the most widely available financial products, from mutual funds to life insurance to college savings accounts. Professor Finke offers evidence-based guidance for building a financial strategy using these products. When you complete the course, you will have all the important information you need to manage your finances—as well as being aware of psychological pitfalls to avoid.

Manage Money for Every Stage of Your Life

After reviewing the psychology of decision-making—and how our instincts often steer us wrong when it comes to loss aversion, risk tolerance, and information overload—Professor Finke explains the “life cycle theory” of financial planning. This eye-opening theory offers a framework for making financial decisions based on the different stages of your life, and it will give you an entirely new perspective on money management.

The goal is simple: to get the most out of your money across time. There is a time in all of our lives where we should be borrowing more and saving less, and a time when we should be saving more and borrowing less. As he teases out the implications of this framework, Professor Finke introduces you to the range of financial products and tools at your disposal, including:

  • liquid assets,
  • stocks and bonds,
  • mutual funds,
  • credit,
  • mortgages,
  • insurance, and
  • estate planning.

You’ll receive a comprehensive overview of these options, as well as general guidance about the principles of taxation, building a credit history, analyzing your tolerance for risk, choosing a retirement age, and much more. Professor Finke ties it all together with the most up-to-date financial data and trends.

Create Your Long-Term Financial Plan

The tricky thing about financial management is that our instincts are often unreliable. Scientific evidence suggests that humans are hard-wired to make emotional decisions that prevent us from making good decisions under stress. For instance, we might be tempted to sell stock when the market falls, or we might overestimate certain risks while ignoring greater threats. The key to sound money management is to develop patience and discipline for the long haul.

Money Management Skills gives you a rational blueprint for setting financial goals, managing debt responsibly, setting aside money for retirement, taking advantage of tax benefits, navigating end-of-life issues, and much more. You’ll discover a host of basic rules of thumb, such as:

  • Education is one of the most valuable investments you can make for yourself or your children.
  • Choose passive, low-expense mutual or index funds for long-term investing, and be sure to diversify your portfolio.
  • Term life insurance is a great value, but depending on your tolerance for risk, comprehensive auto insurance might not be such a good deal.
  • Retiring just a few years later can leave you with significantly more money to spend annually during your retirement.

While everyone’s life is different, the information and sound advice in this course will empower you to create your own financial plan to reach your goals. Professor Finke provides a worry-free approach to handling all aspects of money management.

Hide Full Description
12 lectures
 |  30 minutes each
  • 1
    Understanding Your Financial Brain
    Begin your course with an examination of the brain to explore the tension between conscious decision-making and the automatic emotional response of our limbic systems. This tension affects many of our approaches to financial management, including our innate aversion to loss, our tolerance of risk, and our investment confidence. x
  • 2
    Managing Money with Life Cycle Theory
    In this lecture, you will reconsider your entire approach to your finances. Life cycle theory is a framework for making financial decisions at different stages in your life, and it offers sound guidance for saving, borrowing, and investing across time. In other words, it's about making sure you get the most out of your money from young adulthood through retirement. x
  • 3
    Basic Investing: Keep It Simple
    You don't have to be a financial guru to make wise investment choices. In fact, as you will learn in this lecture, a few basic rules of thumb are all most of us need to make solid financial choices. Review the basics of investment and risk, the importance of diversification, and a simple theory for building a profitable investment portfolio. x
  • 4
    The Key Financial Instruments
    Tour the range of investment options, from liquid assets such as cash and checking accounts to long-term assets such as mutual funds, stocks, and bonds. See what fees and returns you can expect from each type of instrument - and what tax obligations you may incur. Then build a strategy of investment for the long haul. x
  • 5
    How to Use Credit Optimally
    Debt can be intimidating, but when used appropriately, it is a powerful tool. Psychology plays a key role when we take on debt, so it is important to recognize bad habits such as impulsiveness. After getting an overview of credit and credit history, you'll survey the variety of loans available, from credit cards to auto loans to mortgages. x
  • 6
    Investing in Education
    Most economists would agree that education offers one of the highest returns of any investment; however, paying for college often involves taking on student loans. Whether you're a high school student or a parent preparing to pay for your child's tuition, learn the key risks of student loans, and see what tax advantages you might apply toward a college education. x
  • 7
    The Economics of Home Ownership
    After education, home ownership might be the most important financial decision we make in our lifetimes. Is home ownership really a great investment? When should you buy a house versus renting? Examine these questions as well as the basics of obtaining a mortgage. Key considerations include types of loan, mortgage insurance, points, and taxes. x
  • 8
    Managing Risk with Insurance
    Insurance is really about risk management." The world abounds with perils, and insurance is about estimating the probability of a loss and weighing the cost of insurance versus potential out-of-pocket expenses. Fortunately, some elementary principles help guide you toward critical coverage and help you avoid less beneficial policies." x
  • 9
    Essential Tax Principles
    No discussion of finances can evade the topic of taxes. In this lecture, Professor Finke provides a clear and concise overview of the U.S. income tax system: how our income is taxed, as well as the myriad credits and deductions that are available. His discussion also includes payroll and state taxes, as well as other taxes the average American pays. x
  • 10
    Saving for Retirement
    When should you retire? And how do you save enough to ensure that you're financially covered for the future? This lecture demystifies the retirement savings process with continuing guidance from the life cycle theory of managing money. Explore the different investment options at your disposal - including 401(k)s, IRAs, and annuities - and build a strategy for retirement. x
  • 11
    Fundamentals of Estate Planning
    The goal of estate planning is to prepare your financial affairs to save your relatives from a confusing mess of assets, liabilities, and property transfers after you've passed. Here you'll discover a roadmap for sorting out your affairs, setting up trusts for your assets, and creating a plan for your end-of-life care options. x
  • 12
    Putting Your Financial Plan Together
    Wrap up the course by building a solid and realistic financial plan. You'll learn how to set up a cash-flow statement, prepare a budget for future expenditures, and make a balance sheet for your estate planning process. Then, apply the fundamentals of this course to achieving your financial goals. x

Lecture Titles

Clone Content from Your Professor tab

What's Included

What Does Each Format Include?

Video DVD
Video Download Includes:
  • Ability to download 12 video lectures from your digital library
  • Downloadable PDF of the course guidebook
  • FREE video streaming of the course from our website and mobile apps
Video DVD
Audio Download Includes:
  • Ability to download 12 audio lectures from your digital library
  • Downloadable PDF of the course guidebook
  • FREE audio streaming of the course from our website and mobile apps
Video DVD
DVD Includes:
  • 12 lectures on 2 DVDs
  • 104-page printed course guidebook
  • Downloadable PDF of the course guidebook
  • FREE video streaming of the course from our website and mobile apps
Video DVD
CD Includes:
  • 12 lectures on 6 CDs
  • 104-page printed course guidebook
  • Downloadable PDF of the course guidebook
  • FREE audio streaming of the course from our website and mobile apps

What Does The Course Guidebook Include?

Video DVD
Course Guidebook Details:
  • 104-page printed course guidebook
  • Photos & illustrations
  • Suggested readings
  • Questions to consider

Enjoy This Course On-the-Go with Our Mobile Apps!*

  • App store App store iPhone + iPad
  • Google Play Google Play Android Devices
  • Kindle Fire Kindle Fire Kindle Fire Tablet + Firephone
*Courses can be streamed from anywhere you have an internet connection. Standard carrier data rates may apply in areas that do not have wifi connections pursuant to your carrier contract.

Your professor

Michael  Finke

About Your Professor

Michael Finke
Texas Tech University
Professor Michael Finke is a Professor of Personal Financial Planning and Director of the Retirement Planning and Living Consortium at Texas Tech University, where he leads the doctoral program—considered the premier academic program in financial planning. He has doctoral degrees in Consumer Science from The Ohio State University and in Finance from the University of Missouri. A longtime advocate for ethical...
Learn More About This Professor
Also By This Professor

Reviews

Money Management Skills is rated 4.4 out of 5 by 37.
Rated 1 out of 5 by from Starts with silly premise He begins by expounding the idea that our spending should be flat throughout or life. Borrow when young, repay & invest during prime years, then draw down savings in old age. Crazy. Some sections are crammed with ideas that aren't covered in any depth and others vere into trivia that virtually everyone knows.
Date published: 2017-07-20
Rated 5 out of 5 by from Excellent advice on spending over a lifetime The concept of smoothing your spending over the course of your life. Allows you to be able to enjoy your entire life not just a specific period like retirement. The course also focuses on keeping investing simple which lowers fees and minimizes risk. The professor was informative and able to communicate his message in a positive and succinct manner.
Date published: 2017-05-25
Rated 5 out of 5 by from Road map for my grandson's financial future! I purchased this for my grandson's 18th birthday to provide a road map for his financial future. I look forward to going through the course with him to make sure he stays on the right financial road!
Date published: 2017-03-23
Rated 5 out of 5 by from Great overview course I've listened to this course a couple of times and love it. I mostly listen while I drive to work so sometimes it's helpful to listen more than once. I'm not a financial person, not especially trained in managing finances. I'm in charge of my own life and savings however, so this course I found very instructive. I'd imagine people with financial backgrounds would say it's too simplistic, but that's just the level I needed to start with. if you're looking for an overview type of course, this is terrific. Easy to understand, good examples given from the professor's own life and teachings with his students, and and very helpful. Thank you Great Courses for another winner.
Date published: 2017-02-04
Rated 5 out of 5 by from Money Management Skills This course is superb. I should have reviewed it 30 years ago. Unbiased and many excellentpointers
Date published: 2017-01-01
Rated 5 out of 5 by from Everyone can learn something from this Everyone, regardless of education level can learn something from this course.
Date published: 2016-12-26
Rated 5 out of 5 by from very valuable and easy to understand Great presentation of deep and important information.
Date published: 2016-12-26
Rated 5 out of 5 by from Starting Over I wish I had this 30 years ago. You hear that time and time again. But it rings true today for me. I'm really learning a lot and getting motivated to turn around my financial habbits and lifestyle. The information presented has been a real help to get me started and organized in the right direction. I am making the plans needed for success, and am trying to stay out of the way of this achievement. I'm running low on time now that I'm in my 50's and still have credit card habbits that are so damaging to my future. Cut em up and put em away.
Date published: 2016-12-06
  • y_2017, m_8, d_18, h_3
  • bvseo_bulk, prod_bvrr, vn_bulk_1.0.0-hotfix-1
  • cp_1, bvpage1
  • co_hasreviews, tv_4, tr_33
  • loc_en_US, sid_5231, prod, sort_[SortEntry(order=SUBMISSION_TIME, direction=DESCENDING)]
  • clientName_teachco
  • bvseo_sdk, p_sdk, 3.2.0
  • CLOUD, getContent, 8.28ms
  • REVIEWS, PRODUCT

Questions & Answers

Questions

1-10 of 11 Questions
1-10 of Questions

Customers Who Bought This Course Also Bought

Video title