Personal finance at heart is managing income, investment, insurance, and loans. Economy and finance are often discussed in the news but rarely from the perspective of an individual's student debt, home mortgage, or stock portfolio. Converting all the marketing words to knowledge is frustrating, leading to short-term decision-making.
Personal finance is about knowledge of diverse instruments like gold, cryptocurrencies, and real estate, as well as fundamentals like inflation, debt, and banking.
The main objective of this course is to create awareness about the bigger picture of the finance ecosystem. The massive diversity in regulations across countries and the financial goals of individuals makes it impossible to come up with one solution that will work for all. Hence, understanding the basics will provide a solid personal finance decision-making framework for the rest of your life.
The course uses real-life financial decisions based on my experiences from three recessions across two countries (US and India).
Some of the questions the course helps in answering
Are ESOPs the best way to get rich?
Who needs life insurance?
Why care about medical insurance?
How is inflation affecting my expenses?
What is the role of economy and finance in daily life?
How loans are interrelated?
How do banks work as a business?
Who prints the currency notes?
How does the government get its income?
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Key Takeaways:
As a student, a framework to understand the financial factor that will allow shaping your career.
As an early-stage professional, a sound argument is to start building moats to increase the risk-taking capacity to pursue dreams.
As a sole breadwinner, a set of tools one could use to amplify their capacity without burning out.
For all, personal finance is a duty, not a choice.
Ability to ask relevant questions based on your current responsibilities at your stage of life.
What doesn't the course offer?
The course does not promote any specific investment advice or product promotion.
The course does not recommend any foolproof solution to any personal finance-related problem.
The course does not provide any stock or trading-related advice.
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