The Open University has joined forces with MoneySavingExpert (MSE) to produce this new free course to give you the skills and knowledge to master your finances. The course was written by The OU, with MSE providing support and guidance.
Packed with videos, audios, quizzes and activities, the course covers all the key aspects of personal finance in six sessions of study that each take around two hours to complete.
The course starts by looking at how to be savvy when spending money and at the behavioural and marketing pressures that try to influence what consumers buy.
It then looks at budgeting and the impact of tax on household finances.
Borrowing money is something virtually all households are familiar with but it can cause financial problems. The course explains how to borrow money sensibly if necessary, whether it’s a loan to buy a car or a mortgage to buy your home.
Do you want to save or invest money? The course looks at simple savings accounts but also investments such as shares, commodities or property. It explains what is involved and the risks you expose yourself to as you look for a higher return on your money.
The course finishes by getting to grips with the complexities of pensions. It will help you to think about your options when retiring, such as how much your state pension will amount to, supplementing this with an occupational or personal pension, and what you can do if your pension provision falls short of what you need.
The current cost-of-living crisis arising from the surge in energy prices and exacerbated by the rising cost of other essentials has made it even more important to take a tight grip of your personal finances. This course will enable you do that.
Enrolling on the course will give you the opportunity to earn an Open University digital badge – this, together with the OpenLearn statement of participation, constitute the qualification Martin Lewis refers to in the video. Badges are not accredited by The Open University but they're a great way to demonstrate your interest in the subject and commitment to your career, and to provide evidence of continuing professional development.
If you’d like to discuss this course, then check out the course discussion thread on the MSE website.
Once you are signed in, you can manage your digital badges online from My OpenLearn. In addition, you can download and print your OpenLearn statement of participation – which also displays your Open University badge.
This course is endorsed by the CPD Standards Office. It can be used to provide evidence of continuing professional development but is not accredited learning. We are unable to provide formal learner verification services for participation in our open online courses, which are provided freely by The Open University as self-directed CPD.
The Open University would really appreciate a few minutes of your time to tell us about yourself and your expectations for the course before you begin, in our optional start-of-course survey. Once you complete the course we would also value your feedback and suggestions for future improvement, in our optional end-of-course survey. Participation will be completely confidential and we will not pass on your details to others.
Earn this free Open University digital badge if you complete this course! The badge can be displayed, shared and downloaded as a marker of your achievement. The badge is awarded for completing the course and passing the quizzes.
Course learning outcomes
After studying this course, you should be able to:
- budget effectively and know how to make good spending decisions
- understand how income is taxed
- understand how and when to borrow money responsibly
- understand savings and investment products – including their different risks
- plan for retirement and know what to do if a projected pension is insufficient.
First Published: 19/05/2020