Personal Finance #4-Credit: Sources, Costs, Pros & Cons

Learn about debt and credit related, personal finance decisions, from a Certified Public Accountant (CPA)

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Udemy
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English
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Finance
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Personal Finance #4-Credit: Sources, Costs, Pros & Cons
4,161
students
7.5 hours
content
Sep 2022
last update
$84.99
regular price

What you will learn

Describe and define credit

List and explain credit advantages and disadvantages

Understand closed end credit and open end credit

List different loan types and describe their pros and cons

List types of financial institutions and explain their pros and con

List and explain the 5 C's of credit history

Explain the Equal Credit Opportunity Act (ECOA)

Describe loan components and the trade offs of them

Calculate different interest calculation methods

List and identify debt problem warning signs

Description

This course will focus on tools to help with personal financial decisions related to debt and credit.

Learners will understand the advantages and disadvantages of using credit, as well as the associated costs of using credit.

We will discuss credit-related terms like closed-end credit, open-end credit, and different loan types. Learners will also understand what financial institutions are, the differences in how different types of financial institutions operate, and which financial institutions may be best for their personal debt-related needs.

The course will cover factors that generally have an impact on an individual's ability to access credit, including the 5 C's of credit capacity:

1. Character

2. Capacity

3. Capital

4. Collateral

5. Conditions

Learners will learn about the equal credit opportunity act (ECOA). We will also discuss options for an individual if denied credit.

The course will discuss credit costs, loan components, and trade-offs when making credit-related decisions.

We will also look at interest calculation methods, a critical topic for understanding personal financing and making beneficial financial decisions.

The course will include example problems to make concepts more concrete.

It will also have practice problems, including downloadable Excel Workbooks, which users may also open using Google Sheets.

The Excel Workbooks will generally have at least two tabs. One tab will have the answer key so learners can deconstruct the problem. The second tab is where we work the practice problem step-by-step along with the instructional videos.

Content

Presentations

5100 Consumer Credit Overview
5110 Credit Advantages & Disadvantages
5115 Closed-End Credit vs Open-End Credit
5120 Loan Types & Institutions Commercial Banks
5125 Loan Types & Institutions Consumer Finance Companies
5130 Loan Types & Institutions Credit Unions
5135 Loan Types & Institutions Life Insurance Companies
5140 Loan Types & Institutions Federal Savings Bank
5145 Loan Options by Expense Level
5150 5 C's of Credit Credit History
5155 Credit Scores & How They're Calculated
5160 5 C's of Credit Capacity
5165 5 C's of Credit - Collateral
5170 5 C's of Credit Capital
5175 5 C's of Credit Conditions
5180 Equal Credit Opportunity Act (ECOA)
5190 Options if Denied Credit
5195 Cost of Credit
5200 Loan Components and Trade Offs
5210 Interest Calculation Methods
5215 Credit Billing Error & Disputes
5220 Credit & What to do if Identity is Stolen
5225 Protecting Your Credit From Theft or Loss
5230 Cosigning a Loan
5235 Debt Problem Warning Signs
5240 Financial Counseling Services
5250 Declaring Personal Bankruptcy

Problems

5110 Home Loan Borrowing Limit
5122 Debt Payments to Income Ratio
5162 Calculate APR and Payment Home Loan
5163 Mortgage Rate (APR) Break Even Point
5171 Pay Period Comparisons
5175 APR Simple Interest Examples
5177 APR Two Installment Loans Comparison
5179 Add on Interest Rate Loan

Excel Problems

5110 Home Loan Borrowing Limit
5122 Debt Payments to Income Ratio
5162 Calculate ARP and Payment Home Loan
5163 Mortgage Rate (APR) Break Even Point
5171 Pay Period Comparisons
5175 APR Simple Interest Example
5177 APR Two Installment Loans Comparison
5179 Add on Interest Rate Loan

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Related Topics

4865402
udemy ID
9/4/2022
course created date
9/11/2022
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