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

What you'll 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
Requirements
None
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. Character2. Capacity3. Capital4. Collateral5. ConditionsLearners 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.
Overview
Section 1: Presentations
Lecture 1 5100 Consumer Credit Overview
Lecture 2 5110 Credit Advantages & Disadvantages
Lecture 3 5115 Closed-End Credit vs Open-End Credit
Lecture 4 5120 Loan Types & Institutions Commercial Banks
Lecture 5 5125 Loan Types & Institutions Consumer Finance Companies
Lecture 6 5130 Loan Types & Institutions Credit Unions
Lecture 7 5135 Loan Types & Institutions Life Insurance Companies
Lecture 8 5140 Loan Types & Institutions Federal Savings Bank
Lecture 9 5145 Loan Options by Expense Level
Lecture 10 5150 5 C's of Credit Credit History
Lecture 11 5155 Credit Scores & How They're Calculated
Lecture 12 5160 5 C's of Credit Capacity
Lecture 13 5165 5 C's of Credit - Collateral
Lecture 14 5170 5 C's of Credit Capital
Lecture 15 5175 5 C's of Credit Conditions
Lecture 16 5180 Equal Credit Opportunity Act (ECOA)
Lecture 17 5190 Options if Denied Credit
Lecture 18 5195 Cost of Credit
Lecture 19 5200 Loan Components and Trade Offs
Lecture 20 5210 Interest Calculation Methods
Lecture 21 5215 Credit Billing Error & Disputes
Lecture 22 5220 Credit & What to do if Identity is Stolen
Lecture 23 5225 Protecting Your Credit From Theft or Loss
Lecture 24 5230 Cosigning a Loan
Lecture 25 5235 Debt Problem Warning Signs
Lecture 26 5240 Financial Counseling Services
Lecture 27 5250 Declaring Personal Bankruptcy
Section 2: Problems
Lecture 28 5110 Home Loan Borrowing Limit
Lecture 29 5122 Debt Payments to Income Ratio
Lecture 30 5162 Calculate APR and Payment Home Loan
Lecture 31 5163 Mortgage Rate (APR) Break Even Point
Lecture 32 5171 Pay Period Comparisons
Lecture 33 5175 APR Simple Interest Examples
Lecture 34 5177 APR Two Installment Loans Comparison
Lecture 35 5179 Add on Interest Rate Loan
Section 3: Excel Problems
Lecture 36 5110 Home Loan Borrowing Limit
Lecture 37 5122 Debt Payments to Income Ratio
Lecture 38 5162 Calculate ARP and Payment Home Loan
Lecture 39 5163 Mortgage Rate (APR) Break Even Point
Lecture 40 5171 Pay Period Comparisons
Lecture 41 5175 APR Simple Interest Example
Lecture 42 5177 APR Two Installment Loans Comparison
Lecture 43 5179 Add on Interest Rate Loan
Individuals,Personal finance professionals


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