Introduction

This course is designed to help participants understand the impact of financial decisions on their personal, professional, and community lives. More specifically, the course will discuss personal finance and quantitative reasoning concepts, frameworks, and techniques to plan, implement, and evaluate financial strategies and tactics. Topics will also include the time value of money, major consumer purchases (e.g., home, car, student loans, credit cards), retirement planning, investment options and their interrelationship with psychological, sociological, and economic factors. The course will culminate with the development of a comprehensive personal financial plan and simulate investment, retirement, tax, insurance, credit, and other financial decisions. The long-term objective is for students to develop a critically-reflective and adaptive capacity for life-long financial decision-making.

Duration

10 Days

Who should Attend

• Project Managers and other Finance Professionals
• Chief Financial Officers and Financial Controllers
• Treasury Team Members
• Capital Investment and Project Staff
• Managers involved in Financial Decision-Making

COURSE LEVEL: Foundation

Course Objectives

At the end of this IRES training course, participants will learn:

• Demonstrate techniques, calculations, and procedures necessary for building a personal financial model, including a budget.
• Demonstrate knowledge of the basic definitions, terminology, concepts, and frameworks for planning, implementation, evaluation of personal financial decisions.

Course Outline

Module 1;Foundations of Financial Planning
1. Defining success
a. Financial versus life success
b. Quantitative and qualitative measures
c. Money and happiness, family, and community
2. Importance of planning
a. Individual attitudes towards money
b. Personal and social financial values
c. Effects of wealth and debt
1) Psychological
2) Emotional
3) Social
4) Physical
3. Planning across the lifespan
a. Career choice and development
b. Life stages and financial concerns
4. Role of financial advisors
Module 2;Money Management Skills
1. A system for personal financial records
2. Net worth/personal balance sheet
a. Assets
b. Liabilities
c. Calculating and evaluating net worth
d. Evaluating net worth
3. Income/cash flows statement
a. Income sources
b. Discretionary and non-discretionary expenses
c. Measuring, recording, and evaluating financial activity
4. Personal budget
a. Savings/investments/purchases
b. Payroll and taxes
1) Primer on payroll system, forms, processes
2) Primer on federal and state income taxes
c. Expenses
1) Categorizing expenses
2) Estimating dollar amounts
d. Evaluation
1) Budgeted versus actual amounts
2) Variance analysis
3) Financial performance
4) Goal re-evaluation
5) Budget adjustments
Module 3;Cash and Credit Management
1. Consuming versus investing
2. Checking accounts
3. Savings accounts
4. Revolving debt (credit cards)
5. Credit
a. Types of credit
b. Establishing and maintaining a credit history
c. Credit ratings
d. Credit bureau reports
e. Getting out of debt
Module 4; Major Life Events/Purchases
1. Auto
2. Home
3. Education
a. Career planning
4. Retirement
Module 5;Basics of Insurance
1. Purpose
2. Types
Module 6; Investment Basics
1. Risk and return
2. Diversification; portfolio mix and stage of life
3. Time value of money
4. Bonds
5. Stocks
6. Mutual funds
7. Other types (e.g., real estate)
Module 7; Retirement and Estate Planning
1. Psychological, physical, and sociological effects of aging and retirement
2. Retirement planning
a. Estimating income in retirement
b. Estimating financial needs in retirement
c. Retirement savings/investment vehicles
3. Estate planning
a. Wills
b. Trusts
c. Estate taxes
4. Social security and medicare
5. Pensions
6. Retirement savings accounts
Module 8; Personal Financial Plan
1. Excel primer
2. Web calculators
3. Other software
4. Reference Information (e.g., current interest and tax rates)

Course Administration Details:

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).

TRAINING VENUE

The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION AND AIRPORT PICKUP

Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

Email:[email protected]/[email protected]

Mob: +254 715 077 817/+250789621067

TAILOR- MADE

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 715 077 817/+250789621067

Mob: +254 792516000, +254 792516010 , +250 789621067 ,or mail [email protected]/[email protected]

PAYMENT

Payment should be transferred to IRES account through bank on or before start of the course.

Send proof of payment to [email protected]/[email protected]

DOWNLOADABLE DOCUMENTS: