My Money & Me —Part 1: Know the Flow

Date: September 10, 2013
Time: 11: 30 a.m.-1 p.m.
Location: Webinar
Contact: Wanda Roberts, repke@msu.edu, 248-858-1008

This webinar is the first in a four-part series and is faciliated by Michigan State University Extension. You can follow the event by visiting the eXtension website. The webinar will be recorded. The My Money & Me webinar series has been accepted by the Association for Financial Counseling and Planning Education (AFCPE®) continuing education (CEU) Department for six (6.0) hours of credit. AFCPE will enter this information into their database towards 2012/2013 CEU requirements once members provide proof of completion. Member account status can be checked anytime. Read more about AFCPE continuing education details.

During this session participants will learn how to create a household assets, liabilities and net worth statement and cash flow statement. Going beyond the numbers, they will learn about the interrelationship between assets, liabilities, income and expenses and how each may affect their perceived and actual net worth. Participants will also learn the difference between consumption, saving and investing. Within this context, participants will learn about the three basic financial asset classes: stocks, bonds and cash; their risk and return attributes and potential contribution to income and net worth.

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Learning Targets

  • Identify and categorize various types of assets
  • Identify and categorize various types of liabilities
  • Know how to calculate personal net worth
  • Know how to create a personal assets, liabilities and net worth statement
  • Identify and categorize cash inflow (money in) and cash outflow (money out)
  • Know how to create a personal cash flow statement
  • Know the differences between consumption, saving, and investing
  • Know the three basic asset classes: stocks, bonds, cash, and their risk and return attributes

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