Use Case: Student

Actor:

• Name: Sarah
• Age: 20
• Occupation: College Student
• Goal: To gain knowledge and skills in personal finance management to make informed decisions about budgeting, saving, investing, and building wealth for the future.

Scenario: Sarah is a sophomore student majoring in Economics at a local university. She has always been interested in understanding how money works and wants to take control of her finances early on. When she learns about the Personal Finance and Wealth course being offered next semester, she sees it as an excellent opportunity to enhance her financial literacy and skills.

Preconditions:

• Sarah is enrolled as a student at the university.
• The Personal Finance and Wealth course is being offered as part of the curriculum.

Main Flow:

1. Registration: Sarah registers for the Personal Finance and Wealth course through the university’s online registration system.

2. Attending Classes: Throughout the semester, Sarah attends lectures, participates in discussions, and engages in hands-on activities that cover various topics related to personal finance and wealth management. These topics may include:

   • Basics of budgeting and managing expenses.
   • Understanding different types of income and taxes.
   • Saving strategies and the importance of an emergency fund.
   • Introduction to investing, including stocks, bonds, and mutual funds.
   • Retirement planning and understanding employer-sponsored retirement plans.
   • Managing debt effectively, including student loans and credit cards.
   • Real estate investment and homeownership.
   • Building and protecting wealth through insurance and estate planning.

3. Completing Assignments: Sarah completes assignments such as budgeting exercises, investment simulations, case studies, and research projects. These assignments help her apply the concepts learned in class to real-life scenarios and develop practical skills.

4. Seeking Guidance: Sarah actively participates in class discussions and seeks clarification from the instructor whenever she encounters challenging concepts or questions. She also takes advantage of office hours to discuss her personal financial goals and seek personalized advice.

5. Engaging with Resources: Sarah utilizes various resources recommended by the instructor, such as textbooks, online articles, financial planning tools, and reputable websites. She also joins online forums or student groups related to personal finance to exchange ideas and learn from peers.

6. Evaluating Progress: Sarah periodically evaluates her understanding and progress in the course by reviewing her performance in assignments, quizzes, and exams. She reflects on her strengths and areas for improvement to adjust her learning strategies accordingly.

Postconditions:

• Sarah completes the Personal Finance and Wealth course with a solid understanding of fundamental financial principles and practical skills in managing her finances.
• She feels more confident and empowered to make informed decisions about budgeting, saving, investing, and planning for her future financial goals.
• Sarah applies the knowledge and skills gained from the course to her personal financial situation, leading to improved financial well-being and long-term wealth accumulation.

Alternative Flow:

• In the event that Sarah encounters scheduling conflicts or other challenges that prevent her from attending classes regularly, she may communicate with the instructor to explore alternative arrangements, such as accessing recorded lectures or arranging makeup sessions to ensure she doesn’t fall behind in the course.