Managing my money for young adults
Managing my money for young adults

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Managing my money for young adults

1  To borrow or not to borrow?

Described image
Figure 1

Philip wants to purchase a new Sonos sound system costing £1000. If you assume that he cannot simply fund the purchase out of his monthly budget, his options include:

  1. using existing savings
  2. building up savings first, then purchasing the item later
  3. using a mixture of savings and debt
  4. borrowing £1000.

Activity 1  What are the deciding factors?

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Activity 2  And what are the deciding factors now?

By signing in and enrolling on this course you can view and complete all activities within the course, track your progress in My OpenLearn. and when you have completed a course, you can download and print a free Statement of Participation - which you can use to demonstrate your learning.

Click on 'SIGN IN to enrol' to get started.

You can find out more about registering and OpenLearn in our FAQs.
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