JAMES MADISON UNIVERSITY
Dollars and Sense
Course Number: IS 275
Spring 2012 Semester
Monday 2:30pm – 5:00pm
Burruss Room 139
Instructor: Mr. Brad Barnett, MS, AFC, CPFM
Office:
Warren Hall, Room B504-J
Phone:
540-568-2894
Email:
barnetbd@jmu.edu
Office Hours: By Appointment Only
TEXT & MATERIALS:
Go to the JMU Bookstore or http://www.daveramsey.com/store. If using the website, type the name of the product
in the “SEARCH FOR” box to find it. Materials are not required to be purchased from this site or the JMU
Bookstore if they can be found elsewhere. If purchased from this site, please allow a minimum of 5 business days
to receive the order. Required materials are needed on the first day of class (January 9th).
Required Materials
Foundations in Personal Finance College Edition (Item No: 9781936948000CUR)
COURSE DESCRIPTION:
This practical course will review the affect a personal philosophy on money, influence of societal expectations, and
management of personal finances, has on all aspects of life when it comes to securing the “American Dream.”
Students will learn real life skills in the areas of eliminating debt, creating a budget, understanding investments and
insurance, saving money, planning for retirement, shopping for a house, and other topics dealing with financial
issues faced in daily life.
COURSE INTENDED LEARNING OUTCOMES:
Students completing this course are expected to demonstrate the following competencies:
1. To secure the necessary knowledge and resources that will enable the students to teach this information
from this course to others.
2. To understand through demonstration, discussing and experience, the concept of personal finance as it
relates to saving.
3. To develop the capacity to communicate with others regarding the effects our values have on our
spending and saving habits.
4. To comprehend the basics of developing and maintaining a functional zero-based budget.
5. To refine a personal vision of the “American Dream” and understand the elements needed to make that
vision a reality.
6. To gain the knowledge and skills necessary to make wise decisions in how to handle day-to-day
finances and plan for the future.
7. To secure the tools to properly evaluate all personal goals, needs, and plan of implementation to
financial freedom.
COURSE FORMAT:
This course is based upon:
1. A study of chapters in the workbook.
2. The reading and completion of supplementary in-class and out-of-class workbook and reference
materials.
Dollars and Sense Syllabus 1
3. Students will be required to keep a weekly journal, develop a written financial budget, create a
financial plan, and perform other written assignments.
4. The viewing of pertinent videos.
5. Lectures, in-class discussions, a mid-term and a final examination.
6. The instructor reserves the right to modify parts of this syllabus throughout the term
COURSE EXPECTATIONS:
Students fulfilling are expected to meet the following course expectations:
1. Commit time to READ AND PREPARE for class discussions, participate in class discussions, and
follow through to completion in each class assignment.
2. ATTENDANCE IS MANDATORY FOR A GRADE OF A! Commit to being in attendance in
every class meeting and attending every class meeting on time. Due to the participatory nature of this
class, it is impossible to stay current on assignments and responsibilities if one is not present, even if
the absences are excused. Therefore, a student will receive a grade of zero for any missed class, even it
is excused.
3. All cellular phones and pagers must be turned off prior to entering class.
4. Class participation also includes refraining from talking during all video and other in class
presentations. Mutual respect is paramount.
COURSE ASSIGNMENTS:
Multiple opportunities will be provided for students to demonstrate their intelligence and diligence. These will
include several assignments, described below. Additional information will be provided on each of these in class.
1. Class Participation and Attendance: The wisdom of class commentary, including comments on readings,
viewings, and presentations will be evaluated in terms of its pertinence, clarity and perceptiveness.
Moreover, a series of in-class exercises will be provided in order to elicit reactions to class viewings.
Attendance is truly expected every class. Failure to attend class could result in failure of course. Class
participation and attendance will count as 40% of the final course grade.
Note: Accommodations may be made for religious observances, disabilities, military service, jury
duty, illness, family emergencies, or representation of the university. Please see the instructor if
one of these situations applies to you.
2. Midterm Exam: An examination will be given. More information will be provided in class as the date for
the midterm approaches. The midterm will be a compilation of material covered in every class prior to the
date of actual examination. The midterm will count as 15% of the total course grade.
3. Homework Assignments: Each student will be required to complete and submit a series of homework
assignments. These may include weekly journal entries, assigned readings, topical papers, a zero-based
budget, a personal biography (including history, present and future goals for life and personal finance), and
a plan for achieving the “American Dream.” These assignments will be used to create a financial plan that
will be submitted at the conclusion of the semester. Homework turned in late will be docked one letter
grade for each week (or any portion of a week) it is late, regardless of the reason.
4. Final Exam: The final will cover material from the entire course semester. The final exam will count as
15% of the total course grade.
COURSE CONTENT:
The course will focus on the following topics as they relate to the students securing their “American Dream”:
 Savings
Reviews the societal influences on spending and saving habits, the affect our emotional development has in
this area, discusses savings from a historical perspective, and teaches discipline, patience, and goal setting.
 Budgeting
Focuses on the importance of budgeting and challenges students to determine what can be classified as
essential and non-essential expenses for them. The incorporation of planning for short term and long goals
Dollars and Sense Syllabus 2
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as they relate to needs and wants is also part of this lesson, as well as an overview of some basic tax
information.
Debt
Debt is often acquired due to a lack of emotional maturity when it comes to spending (e.g., impulse
shopping, etc.), poor planning skills, and/or succumbing to societal expectations of what the “American
Dream” should be for everyone. Students will learn about these influences as well as discuss methods for
eliminating current debt and avoiding future debt, as well as discuss some key differences between debit
cards and credit cards.
College Student Essentials
The importance of being in touch with your personality and desires as it relates to selecting your career,
finding money to pay for college, and some issues related to the transition of life after college will be
reviewed.
Family, Friends, and Philanthropy
Students will learn how individuals and families relate with money, how emotions affect our purchasing
decisions, and the role our personal and family values play on how we spend and save our money and the
overall quality of our relationships.
Consumer Awareness
The psychology of spending, marketing, and succumbing to personal desires when it comes to purchasing
to “make yourself happy” will be discussed.
Bargain Shopping
Students will discover the benefits of negotiating and ways to save money when shopping.
Credit Bureaus
Students will learn about debt collection practices, gain knowledge about credit bureaus, and learn how to
read a credit report
Insurance
The various aspects of acquiring physical and emotional security by having the right type of insurance for
your situation will be reviewed in this lesson.
Investing
The basic terminology of investing, compounding interest, and a variety of investment methods appropriate
for specific goals will be discussed. Students will be given tools to calculate compounding interest.
Retirement and Savings Plans
The importance of goal setting and long range planning to ensure you are adequately prepared for
retirement and future college expenses will be reviewed, as well as the multitude of options available to
save for these situations.
Real Estate
Reviews the buying, selling, and purchasing aspects of securing a home, including the influence others may
have on the choices we make.
BLACKBOARD USAGE:
 DVD lessons for viewing after class
 Syllabus
 Various worksheets and assignments
 Communication to class (this may be done via e-mail as well)
Dollars and Sense Syllabus 3
WEEKLY JOURNAL ARTICLE FORMAT:
 No more than one typed page.
 Discuss something financial you learned or were more conscious of during the week outside of class. Talk
to the knowledge you gained and the feelings you experienced at that time. For example, did you think
twice about making a certain purchase based on something we discussed in class? If so, describe the
situation and talk about your feelings about the decision you made. Was it hard? Was it easy? Did you
feel proud that you fought off the impulse, or ashamed that you gave into it?
 Grading will be based on the content of the journal.
COURSE GRADING:
The overall course grade will be determined by the following constraints:
Attendance and Class Participation
40%
Homework Assignments
10%
Midterm Exam
15%
Weekly Journal
10%
Financial plan
10%
Final Exam
15%
100%
The distribution of grades will be determined by the percentage value that each student acquires throughout the
course of the semester. The final course grade will be given on the following points scale:
A= 94 - 100%
B= 86 - 93%
C= 78 - 85%
D= 70 - 77%
F= 0 - 69%
MID-TERM AND FINAL EXAMS:
 You will be given a “test” for each topic discussed in class.
 Your mid-term and final exams will predominantly come from these questions, but Mr. Barnett reserves the
right modify this format.
FINANCIAL PLAN FORMAT:
The plan can be as long as you need it to be, but it must be typed using the template provided by Mr. Barnett. Your
plan should demonstrate how you personally plan to address these areas of your life. Grades will be determined
based on the quality of the content, not necessarily the length of the plan. Include SMART Goals in your plan.
1. Introduction
Personal history including future life goals and financial goals. Discuss how your values play a role in this
and what values those are. Has your American Dream changed since the paper you submitted after the first
class? If so, how? If not, how has it been validated?
2. Saving, Investing, and Retirement
How you plan to save for large expenses (e.g., car, house, etc), develop an emergency fund, invest, build
wealth, and prepare for retirement.
3. Debt and Banking
Credit cards, debit cards, banking, student loans, repayment plans, philosophy on having it, pros and cons
of it, etc.
4. Consumer Awareness
The influence it has had on your purchases in the past and how being cognizant of this will impact your
future purchases
5. Credit Bureaus
Dollars and Sense Syllabus 4
6.
7.
8.
9.
10.
11.
12.
Building credit and/or if that is important, credit report/scores, and dealing with collections agencies (if
applicable)
Budgeting and Taxes
Developing budgets and mechanisms for how you will ensure you stay within budget and ensure your
budget reflects your personal values, how you will try to manage your taxes
Bargain Shopping
Incorporating bargain shopping and/or negotiating techniques
Family, Friends, and Philanthropy
The impact your personal values play on your use of money and how that affects your relationships, now
and in the future.
Careers
Thoughts about your career choice
Insurance
Types of insurance you have, and/or plan on purchasing and why
Real Estate
Plans for purchasing a home and/or investing in real estate (if applicable)
Conclusion
Summary of how this class has affected you and how you think these principles will change your life.
Dollars and Sense Syllabus 5
Date
January 9th
January 16th
January 23rd
January 30th
February 6th
February 13th
February 20th
February 27th
March 5th
March 12th
March 19th
March 26
th
COURSE SCHEDULE, TOPICS, READING SCHEDULE & HOMEWORK:
Class Session
Readings Prior to Class Homework Due Next Class
Intro & Savings
Foundations in Personal
1. American Dream Paper
Finance Introduction and 2. Watch Savings video Blackboard
Chapter 1
3. Watch Budgeting video Blackboard
4. Savings Test
MLK Holiday
Budgeting Part 1
Foundations in Personal
1. Journal
Finance Chapter 2
2. Budgeting Test
3. TBD
Budgeting Part 2 &
Foundations in Personal
1. Journal
Debt
Finance Chapter 3
2. Debt Test
3. February Budget
4. TBD
College Student
Foundations in Personal
1. Journal
Essentials
Finance Chapter 4
2. College Essentials Test
3. TBD
Family, Friends, and
Foundations in Personal
1. Journal
Philanthropy
Finance Chapter 5
2. Family and Friends Test
3. TBD
Consumer Awareness
Foundations in Personal
1. Journal
Finance Chapter 6
2. Consumer Test due 2/22
3. Pull Credit Report for 3/26 class
4. TBD
Mid-Term Exam
Spring Break
Bargains
Foundations in Personal
1. Journal
Finance Chapter 7
2. Shopping Test
3. TBD
Credit Bureaus
Foundations in Personal
1. Journal
Finance Chapter 8
2. Credit Test
Insurance
Foundations in Personal
Finance Chapter 9
April 2nd
April 9th
Hold
Investments
Foundations in Personal
Finance Chapter 10
April 16th
Retirement and Savings
Plans
Foundations in Personal
Finance Chapter 11
April 23rd
Real Estate
Foundations in Personal
Finance Chapter 12
April 30th
Final Exam (TBA)
3.
1.
2.
3.
TBD
Journal
1.
2.
3.
1.
2.
3.
1.
2.
Journal
Investments Test
TBD
Journal
Retirement Test
TBD
Real Estate Test due 4/25
Financial plan
Insurance Test
TBD
Dollars and Sense Syllabus 6