Managing my money
Managing my money

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.

Free course

Managing my money

Tuesday, 18 Jan 2022, 01:35
Site: OpenLearn
Course: Managing my money (MMM_1)
Glossary: Managing My Money Glossary


The process of establishing a fund to cover the costs of any potential financial loss.

State additional pension

A state pension available mainly to employees. The amount received varies from one person to another depending largely on their average earnings while the pension was building up.

Symbolic consumption

Consuming products or lifestyles for social meanings attached to those products or lifestyles for others to see.


Two or more people who own a property together. Each has a distinct share.


The period of time over which a debt is to be repaid.


A sacrifice of something in order to have something else.

Unit trusts

Collective funds that allow private investors to pool their money in a single fund.

Working life

An official definition meaning the tax years from age 16 to pension age. For example, a person whose state pension age is 68 will have a working life of 52 years.

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