1. Introduction:  

1. Introduction

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Welcome to Managing My Money! Created by the Open University’s True Potential Centre of the Public Understanding of Finance, this guide is designed to help you take control of your finances, decide what you want, and manage your money better. Do you want to afford a holiday, have a debt-free Christmas, or simply stop worrying about money and bills? Whatever your financial goals, this guide can help you achieve them.

Money is a daunting subject, with most of us getting by on a day-to-day basis and not thinking too much about it. However it is far easier to take control of your finances than you may think. This course combines practical tips with a step-by-step process help you manage your money and avoid some of the common pitfalls that millions of us fall into each year. It won’t ask you to make big lifestyle changes but will show you the small, manageable steps that can have a huge impact on your finances.

You will start by creating a simple but effective budget. Budgeting is not about going without things you want. It is about deciding what is most important to you. You will receive some tips on saving money as painlessly as possible, as saving even small amounts of money regularly can help you to achieve your goals. We will finish by covering how to tell the difference between good debt and bad debt and how to avoid the problems bad debt can cause.

Included with this course is our simple budget planner [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] . This is a vital tool to take control of your finances, and this guide will take you step-by-step through completing it and putting it into action. We have also included a “do it today” list of 7 things you can do in 15 minutes or less that can really improve your finance.

If you have any questions about this guide please contact the author Will Brambley at william.brambley@open.ac.uk.