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

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

12 A model for financial decision making

You’re close to the end of the course now and we’re finishing with a simple model that can be used for making all your important financial decisions – both now and in the future.

The four-stage model provides a framework for evaluating a financial issue, deciding on a plan of action, acting on that plan and then subsequently reviewing the outcome.

The video explains these four financial planning steps and the links between them.

Download this video clip.Video player: ou_futurelearn_money_vid_1222.mp4
Copy this transcript to the clipboard
Print this transcript
Show transcript|Hide transcript
Interactive feature not available in single page view (see it in standard view).

If you need help when applying this model to major financial problems – for example how to get out of problem debts – you will find that it is offered free of charge by organisations like the Money and Pensions Service, StepChange and Citizens Advice.

See also

Money and Pensions Service

Money and Pensions Service provides impartial and free financial guidance direct to consumers, online or by telephone.

Citizens Advice

Citizens Advice provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities on a range of topics, including personal finance.

StepChange Debt Charity

Known in the past as the Consumer Credit Counselling Service (CCCS), StepChange Debt Charity is an independent charity dedicated to overcoming problem debt, providing a wide range of free advice on the subject.

Take your learning further

Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.

If you are new to University-level study, we offer two introductory routes to our qualifications. You could either choose to start with an Access module, or a module which allows you to count your previous learning towards an Open University qualification. Read our guide on Where to take your learning next for more information.

Not ready for formal University study? Then browse over 1000 free courses on OpenLearn and sign up to our newsletter to hear about new free courses as they are released.

Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.

Request an Open University prospectus371