Introduction
You make thousands of decisions every day
Some of these decisions are trivial.
For example, you may find it very easy to decide whether to have cereal or pancakes (or both) for breakfast on Friday. Moreover, your choice of breakfast on a particular Friday is unlikely to have a significant impact on your future.
Some decisions are hard and could affect your future. For example, you may find it difficult to decide whether to go to a university or choose an apprenticeship. Moreover, your choice in this case is likely to affect your future prospects.
Personal financial decisions – that is, decisions related to your income, spending, savings or investing – are usually hard and could have a significant impact on your life.
This 5-hour course is divided into 9 short sessions and provides an introduction to the knowledge and skills that are essential for good financial decision making.
Enrol on the course and a digital badge and course certificate are awarded if you complete all nine sessions of the course.
Authored by The Open University, this course has been funded by the Harrison Foundation [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] and supported by the Harrison Centre for Social Mobility.
Course learning outcomes
By completing this course, you will:
Understand the basics of how an economy works.
Discover the importance of financial planning and budgeting.
Learn about the benefits of opening and using a bank account.
Compare the difference types of savings accounts.
Explore what inflation and interest rates are.
Understand the basics of how the stock market works.
Know what income tax and National Insurance (NI) contributions are.
Learn how to protect yourself against fraud and scams.
Consider the relationship between money and happiness.
Introductory educational content only
Personal financial decision making and financial planning are broad subject areas.
This short course provides only a brief introduction to selected topics which, in the author’s opinion, are useful for young adults to start learning how to make good financial decisions and think about financial planning.
The course is not a substitute for full-length courses on finance, economics or financial planning. Additional resources are mentioned for learners who wish to study the topics discussed in more detail.
Moreover, this short course is for educational purposes only. The contents of this course should not be considered as financial advice or endorsement of any financial products mentioned.
