Wednesday, November 4, 2020

Personal Finance Illustrated® Homeschool Edition course by PEM LIFE Review

{Disclaimer:  I received a FREE copy of this product through the HOMESCHOOL REVIEW CREW in exchange for my honest review.  I was not required to write a positive review nor was I compensated in any other way.}

For the past few weeks, A has been taking the Personal Finance Illustrated® Homeschool Edition course offered by PEM LIFE.  We were blessed to receive this online subscription with 6 month access for review.  I was hoping for her to be further along in this course but we had to push pause so that she could study for her PSAT.  Now that that's over, she is back at it!  I do want to mention this is a rigorous course.

This one semester, self-study personal finance course has two instructional paths for you to choose from:  the Proctored Path or the Instructional Path.  In the Proctored Path students move through this course on their own watching the lesson videos and completing all the reading, quizzes and other assignments, while parents just oversee the process.  


Instructor Guide for Unit 1

The Instructional Path is a more hands-on approach for the parent providing access to instructor guides, lesson plans, key points, coaching videos, etc.  You can feel confident in teaching without feeling like you have to be a financial expert (and you will learn a lot!).  These two methods can be combined or mixed to suit your needs as you wish.  This customization is a huge perk for this program in my opinion as we are really using it both ways.

This course contains over 60 lessons broken down into 18 Core Units covering topics like the Personal Economic Model, Time Value of Money, Lifetime Capital Potential, Opportunity Cost, The Tax Filter, Lifestyle Regulator, Temperament & Finances, The Importance of Protection, Debt, Pay Cash or Finance, The Investment Tank, Savings Tank, Access to Capital, Qualified Plans, Mortgages, Why Go To Work, Principles of Work, and The Dangers of Riches.  


Above you can see the Personal Economic Model, the picture that's worth a thousand words.

I love how the Personal Economic Model is designed to help you find a balance between your current lifestyle and your future lifestyle requirements.  You can increase your wealth by putting money into your future tanks (investments and savings) while managing your standard of living.  I really wish that I had learned this in high school.  It wasn't until after college that this hit home for me personally.  If A really understands this, she will be ahead of me at her age when it comes to finances and that's encouraging.

Income Tube - Career Choice Video Lesson

The lessons contain the same basic layout.  There is a video lesson which introduces the material and teaches the topic using charts, graphs and other visuals.  There is reading from an online textbook.  There are interactive resources to be used as well.  There are writing assignments, reflection posts and discussions, and a vocabulary and concept quiz.  PEM LIFE takes care of all the grading of quizzes and writing assignments.  Your course will show your grades and the percentage of course completion as well.

Above you can see some of the Interactive Resource Library

I really like the Interactive Resource Library!  There are so many models that let you explore various aspects about finance.  One of my favorites is the Budget Builder.  This handy tool lets you make a budget based on your income and monthly expenses.  I think it's a great way to visualize monthly expenses and cost of living and really learn to manage a budget.

In the tutorial above, it walks you through how to make a monthly budget.  This is such a great resource tool!

I'm super impressed with the content that we have seen so far!  The lessons are fun and engaging.  I really like the colorful illustrations shown throughout the course.  And there is hours of video instruction to bring all the material home.  While we have just dipped our toes into this program so far, we are preparing to dive in head first now and I'm excited to see what A and I learn together!  If you are looking for a complete personal finance course, we highly recommend looking at PEM LIFE.

Be sure to click on the banner below to visit the Homeschool Review Crew blog to read even more reviews of PEM LIFE.

Personal Finance Illustrated® Homeschool Edition {PEM LIFE Reviews}
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