Money Management Skills : The Great Courses: Business & Economics

  • by The Great Courses
  • Narrated by Professor Michael Finke
  • Series: The Great Courses: Business & Economics
  • 6 hrs and 9 mins
  • Lecture

Publisher's Summary

Money management can be intimidating. Fortunately, most of us only need to know a few basic principles to get our financial houses in order. Learn these principles in this comprehensive overview of what everyday people need to know to make good financial decisions. Using a scientific, evidence-based approach, Professor Finke shows how humans are hard-wired to make emotional decisions that often run counter to the best course of action when it comes to finances - and gives tips for how to avoid these common mistakes.
The goal of money management is to maximize our happiness at every stage of our lives. Whether you are a novice investor or a seasoned pro, starting your first job or contemplating retirement, these 24 straightforward lectures are an excellent primer for making successful financial decisions at every stage of your life. Professor Finke takes you on a tour of some of the most widely available financial products and tools, from mutual funds to life insurance to college savings accounts, and he offers evidence-based guidance for building a financial strategy.
After reviewing the psychology of decision-making - and how our instincts often steer us wrong when it comes to loss aversion, risk tolerance, and information overload - Professor Finke explains the "life cycle theory" of financial planning. This eye-opening theory offers a framework for making financial decisions based on the different stages of your life, and it will give you an entirely new perspective on money management. The goal is simple: to get the most out of your money across time.
While everyone's life is different, the information and sound advice in this course will empower you to create your own financial plan to reach your goals. From setting financial goals and managing debt responsibly to investing in home ownership and preparing for retirement, Professor Finke provides a worry-free approach to handling all aspects of your financial life.

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Customer Reviews

Most Helpful

I thought I knew a lot, but I was schooled

I bought this course because it had so many positive reviews, and I thought "Maybe I might learn something."

I learned far more than I imagined, some of it contrary to what I believed EVERYONE knew.

Professor Finke is obviously well-versed on the subject, and his enthusiasm for it overcomes any boredom that I might have found in what I generally find a pretty dry subject.

Although my knowledge of investments and diversification were strong, Professor Finke helped me reconsider what money is for. He introduced the topic of Life Cycle Theory - which is that you should consider all the money you'll make in your life and apportion it out to provide you with the maximum benefits, including pleasure, throughout your life.

This idea stunned me, as it suggests that perhaps a twenty-something should borrow money to fund her home, education and other life experiences, knowing these debts will be paid by her older self.

I was also stunned to find that home ownership isn't always the best financial decision, how to consider insurance and some good tax strategies.

If these topics sound dull, Professor Finke made them seem interesting and easily understandable.

This is one of my top five Great Courses. I just wish I had bought it 20 years ago.
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- Kindle Customer

Not for non US listeners

The content is very interesting for someone living in the USA, but else it's not so applicable for international listeners.
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- Baza

Book Details

  • Release Date: 12-12-2014
  • Publisher: The Great Courses