Starting this fall, students at Kansas University can learn how to effectively manage their money through a course called Personal Finance. The course, offered by the School of Business, will teach students in non-business majors how to avoid major financial pitfalls, such as piling on high-interest credit card debt.

Personal Finance is designed to prepare KU students for financial affairs that will likely occur in their lives. Topics will include financial planning, uses of debt and how to save. In addition, banking, insurance and housing issues – both renting and buying – will be addressed, according to Doug Houston, director of finance, economics and decision sciences at the School of Business.

Students will maintain a monthly diary to assess their spending habits and will develop a budget based on their spending. They will also begin planning for retirement by studying various investments.

The Personal Finance course originated primarily from parents of KU students. The parents wanted to expose their children to healthy financial behaviors and asked the School of Business to develop a course that met those needs.

Two sessions of Personal Finance will be offered next fall, each limited to 60 students. It is a three credit-hour course and is restricted to freshmen and sophomores.