Finance planning, also known as financial planning, is a systematic approach to managing finances to achieve specific goals. It involves evaluating one’s financial situation, setting realistic objectives, and creating a comprehensive plan encompassing budgeting, saving, investing, and tax planning. In this article, we will explore the concept of finance planning and delve into some of the best online finance planning courses available for those looking to enhance their financial planning expertise.
Importance of Finance Planning
Finance planning is a vital guiding force, especially in the uncertain seas of economic challenges. It empowers both individuals and organizations to chart their financial courses with precision. The tangible benefits of finance planning are evident in the findings by Gitnux, which indicate that 43% of those with a financial plan save a remarkable 50% more each month. In essence, finance planning acts as a well-structured map to financial security, offering a reliable route for individuals and businesses to navigate the intricate terrain of contemporary fiscal landscapes, ultimately leading to long-term prosperity.
A career in financial planning can be rewarding, both financially and personally. Financial planners have the opportunity to help people achieve their financial goals and improve their lives. If you are interested in a career that is both challenging and rewarding, financial planning may be the right choice for you.
Table of Content
- 1 Best Finance Planning Courses, Certification, Tutorials, Training, Classes Online
- 1.1 Personal & Family Financial Planning [Coursera]
- 1.2 Financial Planning for Young Adults [Coursera]
- 1.3 Planning your Client’s Wealth over a 5-year Horizon [Coursera]
- 1.4 Fundamentals of Financial Planning, with Goldman Sachs 10,000 Women [Coursera]
- 1.5 Financial Planning & Analysis: Building a Company’s Budget [Udemy]
- 1.6 Introduction to Financial Planning – CFP Certification [Udemy]
- 2 FAQ
Our product recommendations are unbiased and based on an independent review process. We may receive a commission for links to recommended partners. See our advertiser disclosure for more information.
Best Finance Planning Courses, Certification, Tutorials, Training, Classes Online
Personal & Family Financial Planning [Coursera]
This Coursera Personal & Family Financial Planning course online provides a comprehensive and practical exploration of essential personal financial management concepts. Throughout nine modules, spanning topics from the path to financial security and time value of money to credit basics, income tax, and risk management, this course equips learners with the knowledge and skills needed to make informed financial decisions.
Course Instructor
The financial planning class is instructed by Dr. Michael S. Gutter, a renowned expert in the field of financial planning, affiliated with the University of Florida, making him a trusted guide in the realm of financial planning.
What you’ll learn
This course includes the following 9 module:
- Understanding Personal Finance: This foundational segment equips them with the fundamental concepts and principles necessary to navigate the world of money management with confidence.
- Path to Financial Security and Time Value of Money: This delves into the path towards achieving financial security, an aspiration shared by many.
- Financial Statements, Tools, and Budgets: Managing one’s financial resources effectively requires a structured approach.
- Managing Your Income Taxes: Understanding income taxes is a fundamental aspect of personal finance. This offers an introduction to income tax basics, helping students comprehend their tax obligations and how to navigate the tax landscape.
- Building and Maintaining Good Credit: This focuses on credit, a crucial element of personal finance. Students are introduced to the basics of credit, including how to establish and maintain a favorable credit history.
- Managing Risk: Risk management is a cornerstone of financial stability. This delves into risk management basics and offers an overview of insurance, emphasizing the significance of protecting one’s financial well-being.
- Investment Fundamentals: Investing is a key pathway to building wealth, and this explores the fundamental principles of investing. Students learn the rules of investing, including the distinction between debt and equity.
- Investing Through Mutual Funds: This delves into the world of mutual funds and managed portfolios.
- Personal Plan of Action: The final encapsulates the entire learning journey, prompting students to assemble their personal financial plan.
- Bonus: The content of the bonus is not specified in the provided information, but it likely offers additional insights, resources, or tools to further enhance students’ understanding of personal finance.
Pros & Cons
Pros
- Diverse Content
- Time-Efficient
- Real-World Application
- University-Backed Certificate
Cons
- No Personalized Feedback
Key Highlights & Learning Objectives
- The course includes videos, readings, and quizzes in each module, promoting active engagement and understanding of the subject matter.
- The course covers a variety of financial areas, from investment strategies to income tax, ensuring a well-rounded education in personal finance.
- The course helps you develop prudent financial habits that are applicable both during your time in school and throughout your lifetime.
- Concepts taught in this course are directly applicable to everyday financial decision-making, empowering learners to make informed choices.
- This course comprises a total of 32 videos, 8 readings, 16 quizzes, and upon successful completion, awards a certificate from the University of Florida.
Who is it for?
This online financial planning course is best suited for individuals at various stages of life who aspire to enhance their financial literacy and make informed financial decisions. It is particularly valuable for students, young professionals, and anyone seeking to build a solid foundation in personal finance.
Rating: 4.6/5
Students Enrolled: 192,875
Duration: 315 Hours, 3 weeks at 5 hours/week
Financial Planning for Young Adults [Coursera]
The Financial Planning for Young Adults, is a comprehensive introductory financial planning course designed to equip young adults with essential financial planning skills. Spanning nine modules, this course covers a wide range of topics, including financial goal setting, budgeting, saving, investing, managing debt and credit, understanding the time value of money, risk management, and even career opportunities in financial planning.
Course Instructor
The online finance planning class is instructed by a team of experienced educators from the University of Illinois at Urbana-Champaign, including Nicholas Paulson, Kathryn L. Sweedler, and Charles R. Chaffin, who collectively bring their expertise in financial planning to guide learners through this comprehensive program.
What you’ll learn
This course includes the following 9 module:
- Orientation: In the Orientation module, participants are introduced to the world of personal finance. It’s the starting point of the course, encouraging individuals to reflect on their financial situations.
- Setting Financial Goals and Assessing Your Situation: This module delves into the personal aspect of personal finance. It guides participants in using financial tools to assess their current financial status and encourages them to set realistic and meaningful financial goals for the future.
- Budgeting and Cash Flow Management: Budgeting is a cornerstone of sound financial planning. In this module, learners discover the importance of budgeting and explore various methods and tools to manage cash flow effectively. Real-world insights from practicing investment advisors enhance the understanding of this crucial aspect.
- Saving Strategies: Building a saving habit is paramount for financial security. This module explores best practices for saving and addresses common barriers to saving. It also introduces the concept of mental accounting and its potential impact on saving behavior.
- The Time Value of Money: The Time Value of Money module focuses on a fundamental financial concept. Participants gain an understanding of how the value of money changes over time, empowering them to make informed decisions about investments, loans, and more.
- Borrowing and Credit: This module dives into the advantages and disadvantages of using debt and credit for financing purchases. It also addresses topics related to loan repayment and the potential impact of borrowing and credit use on credit reports.
- Investing: Investment terminology and key strategies are introduced in this module, providing a solid foundation for understanding investment options and information encountered throughout one’s financial journey.
- Risk Management: Risk management is an integral part of financial planning. This module covers topics related to insurance and introduces the concept of personal risk tolerance.
- Financial Planning as a Career: The final module offers insights into the career opportunities in financial planning.
Pros & Cons
Pros
- Real-World Scenarios
- Career Insights
- Real-World Career Exposure
Cons
- Time Commitment
Key Highlights & Learning Objectives
- This course offers a well-rounded education in financial planning, covering crucial topics like goal setting, budgeting, saving, investing, debt management, and more.
- Designed for beginners, the course assumes no prior financial knowledge, making it accessible to young adults looking to build a solid financial foundation.
- With a flexible schedule, learners can complete the course at their own pace, making it convenient for those with busy lifestyles
- The course incorporates real-world scenarios and vignettes, challenging participants to apply financial concepts to practical situations.
- The course includes a total of 54 videos, 15 readings, 4 quizzes, 7 assessments, and offers a shareable certificate of completion upon successfully finishing the course.
Who is it for?
This finance planning training is best suited for individuals in their early adulthood who are looking to establish a solid foundation in financial planning. It is ideal for those with little to no prior experience in finance and who seek a comprehensive introduction to essential financial concepts.
Rating: 4.6/5
Students Enrolled: 166,093
Duration: 20 Hours, 3 weeks at 6 hours/week
Planning your Client’s Wealth over a 5-year Horizon [Coursera]
This comprehensive finance planning online course, part of the esteemed Investment Management Specialization, equips learners with the essential knowledge and skills needed to effectively plan and manage their clients’ wealth over a 5-year period.
Course Instructor
The online finance planning class is instructed by Michel Girardin, a seasoned professional from the University of Geneva with a wealth of expertise in investment management, who leads learners through the intricacies of wealth planning and portfolio management.
What you’ll learn
This course includes 4 modules:
- Economic Outlook: Students will utilize their understanding of economic changes to determine which assets are most relevant in the current financial landscape.
- Emotional Biases: In this phase, participants will have to evaluate and address the emotional biases of the character they’ve chosen.
- Portfolio Management and Risk: Once the strategy has been devised, students will delve into portfolio management techniques to ensure that the plan is optimized and its associated risks are adequately managed.
- Performance Measurement and Investment Trends: The final stage involves measuring the performance of the wealth plan, optimizing it, and leveraging investment vehicles and industry trends to further the character’s objectives.
Pros & Cons
Pros
- Industry Collaboration
- Optimal Portfolio Building
Cons
- Limited Reading Resources
Key Highlights & Learning Objectives
- Learners will gain knowledge in analyzing economic trends and addressing emotional biases when designing wealth strategies.
- The course equips participants with the skills to construct and manage optimal portfolios while considering risk factors.
- The course is divided into four modules, each covering specific aspects of wealth planning, ensuring a structured and comprehensive learning experience.
- This course includes 16 videos, 1 reading resource, and upon successful completion, learners receive a shareable certificate of achievement.
Who is it for?
This online finance planning certification course is ideally suited for individuals who aspire to excel in the field of investment management and wealth planning. It is particularly beneficial for financial professionals, including financial advisors, portfolio managers, and wealth strategists, who seek to enhance their expertise and practical skills in crafting tailored wealth plans.
Rating: 4.7/5
Students Enrolled: 40,406
Duration: 13 hours
Fundamentals of Financial Planning, with Goldman Sachs 10,000 Women [Coursera]
Gain valuable insights into the world of financial planning with the Coursera Fundamentals of Financial Planning course. In this comprehensive program, designed for entrepreneurs looking to elevate their businesses, you’ll delve into the critical aspects of cash flow analysis, financial assumptions, and cash flow forecasting.
Course Instructor
This financial planning class is led by experienced instructors from Goldman Sachs 10,000 Women, including Edward David and Anne Donnellon, who bring their wealth of knowledge and expertise in finance to enrich the learning experience.
Pros & Cons
Pros
- Financial Assumption Review
- Assessment of Key Financial Measures
Cons
- Preparation Required
- Focused on Specific Business Needs
Key Highlights & Learning Objectives
- Gain insights into the importance of reviewing and refining financial assumptions in the context of potential business opportunities.
- This course is tailored for entrepreneurs, offering practical financial insights and tools specifically designed to help businesses succeed.
- Develop the ability to create and interpret Cash Flow Forecasts, enabling you to make strategic decisions and predict future financial challenges.
- This course consists of 5 videos, 17 articles, 2 quizzes, 1 assessment, and upon successful completion, awards a certificate of achievement.
Who is it for?
This financial planning training is ideally suited for aspiring entrepreneurs and established business owners looking to enhance their financial acumen and improve their business’s financial performance. It caters to individuals who recognize the pivotal role of financial planning in achieving business success.
Rating: 4.7/5
Students Enrolled: 53,693
Duration: 2 hours
Financial Planning & Analysis: Building a Company’s Budget [Udemy]
This comprehensive financial planning certification course equips learners with the essential skills needed in the field of financial planning. The course delves into the intricacies of budget preparation, covering key areas such as revenue forecasting, cost planning, working capital development, fixed assets roll forward, and cash flow calculations.
Course Instructor
The online financial planning class is authored by 365 Careers, a renowned provider of business, finance, and data science courses on Udemy, known for their extensive expertise and a track record of training over 2.5 million students worldwide.
Pros & Cons
Pros
- Specialized Training
- Real-World Case Studies
Cons
- Requires Excel
- No Specific Duration
Key Highlights & Learning Objectives
- This course covers the fundamental aspects of financial planning, from creating budgets to forecasting revenue and calculating cash flows.
- Engage in hands-on learning with challenges after each major section, where you’ll apply your knowledge to real-world scenarios and receive personalized feedback for an immersive learning experience.
- Gain practical insights through extensive case studies that reinforce the course material, helping you connect theory to real business scenarios.
- This course comprises 43 video lectures, 4 articles, 27 downloadable resources, and upon completion, you’ll receive a certificate of completion.
Who is it for?
This financial planning course with certificate is best suited for individuals with a keen interest in finance and those aspiring to excel in financial planning and analysis roles. It caters to a wide audience, including beginners with no prior experience in finance, as it starts from the basics and gradually builds up knowledge.
Rating: 4.6/5
Students Enrolled: 70,076
Duration: 5 hours
Introduction to Financial Planning – CFP Certification [Udemy]
Explore the foundational principles of financial planning in the Udemy Introduction to Financial Planning course. You’ll delve into the core competencies required for effective financial planning, including ethical considerations and regulatory compliance. Gain insights into the ever-changing economic, social, and technological environments and their impact on financial strategies.
Course Instructor
The online financial planning class is authored by the International College of Financial Planning (ICoFP), a renowned institution with expertise in financial services education, boasting a strong track record in Certified Financial Planner (CFP) education.
Pros & Cons
Pros
- Industry-Relevant Content
- Ethical and Legal Compliance
Cons
- Focused Audience
Key Highlights & Learning Objectives
- Gain the ability to adapt financial strategies to evolving economic, social, political, and technological environments.
- Learn how to identify and assist clients in articulating and achieving their financial objectives.
- Master the basics of financial management and financial mathematics, enabling you to devise practical strategies for goal attainment.
- This course includes 35 video lectures with a total length of 5 hours and 21 minutes, along with a certificate of completion upon finishing the program.
Who is it for?
This financial planning training is ideally suited for a diverse range of learners, including working professionals looking to enhance their financial planning skills, finance students seeking foundational knowledge, and individuals aiming to embark on a career as financial planners or advisers. It caters to mutual fund brokers and financial consultants as well.
Rating: 4.6/5
Students Enrolled: 7,127
Duration: 5.5 hours
FAQ
What is meant by financial planning?
Financial planning is a comprehensive process that involves evaluating an individual’s or organization’s financial goals and creating a structured plan to achieve those goals. It encompasses various aspects of financial management, such as budgeting, saving, investing, and managing debt.
Financial planning aims to ensure that financial resources are effectively allocated to meet current and future financial needs while considering factors like risk tolerance and financial goals.
What is the scope of financial planning?
The scope of financial planning is broad and encompasses various aspects of an individual’s or an organization’s financial life. Financial planning involves the process of setting and achieving specific financial goals while considering one’s financial situation, risk tolerance, and future needs. Here are some key areas within the scope of financial planning:
Budgeting and Cash Flow Management:
Creating a budget to manage income and expenses effectively.
Monitoring cash flow to ensure that there is enough money to cover regular expenses and savings goals.
Investment Planning:
Determining investment goals and strategies based on risk tolerance, time horizon, and financial objectives.
Building and managing an investment portfolio that aligns with these goals.
Retirement Planning:
Estimating the amount of money needed for a comfortable retirement.
Identifying retirement savings and investment vehicles to achieve those goals.
Estate Planning:
Planning for the distribution of assets after death.
Creating wills, trusts, and other estate planning documents.
Tax Planning:
Minimizing tax liabilities by optimizing financial decisions and taking advantage of available tax benefits and deductions.
Insurance Planning:
Assessing insurance needs for health, life, property, and other aspects of life.
Selecting the right insurance policies to protect against risks.
Debt Management:
Managing and reducing debt effectively.
Creating strategies to pay off high-interest debt and improve one’s credit score.
Education Planning:
Saving for educational expenses, such as college or vocational training.
Identifying appropriate savings plans and investment options.
Risk Management:
Identifying and managing financial risks, such as market volatility, health emergencies, or disability.
Implementing strategies like diversification and insurance to mitigate these risks.
Emergency Fund Planning:
Building an emergency fund to cover unexpected expenses or loss of income.
Ensuring a financial safety net is in place.
Financial Goal Setting:
Defining specific, measurable, achievable, relevant, and time-bound (SMART) financial goals.
Creating a roadmap to achieve these goals.
Real Estate Planning:
Deciding on real estate purchases, including homes and investment properties.
Evaluating the costs and benefits of real estate investments.
Charitable Giving and Philanthropy:
Incorporating charitable giving into financial plans, including donations and philanthropic goals.
Business Financial Planning:
Applying financial planning principles to manage the finances of a business, including budgeting, investment, and risk management.
The scope of financial planning can vary significantly from person to person or from one organization to another. It involves a comprehensive analysis of current financial circumstances, goal setting, and the development of strategies to achieve those goals.
Financial planners, advisors, and individuals can tailor financial plans to meet specific needs and objectives. Additionally, financial planning is an ongoing process, as financial goals and circumstances may change over time, requiring periodic reassessment and adjustments to the plan.
What are the two objectives of financial planning?
The primary objectives of financial planning are to help individuals or organizations achieve their financial goals and ensure financial security. These objectives can be broken down into two main categories:
Wealth Accumulation and Financial Growth: One of the fundamental objectives of financial planning is to accumulate wealth and achieve financial growth over time. This involves increasing assets, investments, and savings to meet long-term financial goals, such as retirement, education, or wealth preservation.
Financial Security and Risk Mitigation: Financial planning also focuses on achieving financial security and mitigating risks that could jeopardize one’s financial well-being. This objective involves protecting assets, managing liabilities, and preparing for unforeseen events.
What are the types of financial planning?
Financial planning encompasses various areas of personal and business finance, and there are different types of financial planning that address specific aspects of financial management. Here are some common types of financial planning:
Personal Financial Planning:
Personal financial planning focuses on an individual’s financial well-being and covers various aspects of personal finance, such as budgeting, savings, investments, retirement planning, and estate planning.
Retirement Planning:
This type of planning is dedicated to preparing for a financially secure retirement. It includes setting retirement goals, calculating retirement savings needs, and developing strategies for achieving those goals.
Estate Planning:
Estate planning involves preparing for the distribution of assets and properties after death. It includes creating wills, trusts, and other legal documents to ensure the smooth transfer of wealth to heirs and beneficiaries.
Investment Planning:
Investment planning focuses on building and managing investment portfolios to achieve financial goals. It includes asset allocation, risk assessment, and selecting appropriate investment vehicles.
Tax Planning:
Tax planning is about optimizing tax strategies to minimize tax liabilities legally. It includes taking advantage of tax deductions, credits, and incentives.
Risk Management and Insurance Planning:
Risk management and insurance planning involve assessing and mitigating financial risks. It includes selecting insurance policies to protect against various risks, such as health, life, property, and liability.
Debt Management:
Debt management planning aims to effectively manage and reduce debt. It involves strategies for paying down high-interest debt and improving creditworthiness.
Budgeting and Cash Flow Planning:
Budgeting and cash flow planning are fundamental to personal finance. It focuses on creating budgets, tracking income and expenses, and managing day-to-day cash flow.
Education Planning:
Education planning is about saving for educational expenses, such as college or vocational training. It includes choosing the right savings plans and investments to fund education goals.
Real Estate Planning:
Real estate planning deals with property investments, including residential and commercial real estate. It includes evaluating the costs and benefits of real estate investments.
Charitable Giving and Philanthropic Planning:
This type of planning involves incorporating charitable giving into financial plans, including donations and philanthropic goals.
Business Financial Planning:
Business financial planning is dedicated to managing the finances of a business. It includes budgeting, cash flow management, investment decisions, and risk assessment for business owners and entrepreneurs.
Financial Planning for Special Situations:
Some individuals may require specialized financial planning, such as divorce financial planning, financial planning for individuals with disabilities, or financial planning for expatriates living abroad.
The specific types of financial planning a person or organization needs will depend on their financial goals, circumstances, and priorities. Many financial planners and advisors specialize in one or more of these areas to provide tailored advice and guidance to their clients. It’s common for individuals and businesses to engage in multiple types of financial planning to address their comprehensive financial needs.
