Personal finance in context

Open University Business School
Milton Keynes, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' Are you interested in making more informed decisions about your personal finances, as well as developing the knowledge and skills required to study at a higher level? If so, then You and your money is an excellent course. It provides a detailed understanding of many of the important personal finance issues that affect people’s lives and delivers the skills and knowledge you need to improve your personal financial capability.

This course covers four broad themes. The first theme is the importance of the changing economic and social environment to your personal finances. This is taught by placing financial topics �such as borrowing and debt; savings and investments; the housing market; and pensions �within the context of social and economic change. So, for example, you’ll examine not just the different types of mortgages available, but also explore the underlying social and economic changes currently affecting home ownership, interest rates, and borrowing.

The second course theme is the relationship between individuals and households in financial matters, a relationship that is crucial to situating financial decisions in their real context. This relationship can include various issues, from thinking about how a couple manages their money, to the financial implications of having children, or of caring for an elderly parent.

The third course theme considers the importance of change over the course of a lifetime. This means thinking about not only how your own income and spending plans might change, but also how such change interacts with broader social and economic change. For example, as the government and employers reduce pension provision, it’s increasingly likely individuals will have to think ahead in order to plan and provide for their old age: this course discusses some of the options.

The final theme is financial planning. This is a crucial element of personal finance and you will explore the financial planning process, working through the three stages of assessing your financial position: deciding upon a financial plan; acting upon this plan; and reviewing the plan. You will also learn about (and practice using) all the main tools used in personal financial planning, from personal balance sheets, to budgeting and cash-flow statements. These tools can be kept and used for your own personal use after the course.

Taken together, the knowledge and understanding you gain from studying You and your money will deliver two types of skills: skills that are highly practical and relevant in your everyday life, and academically-relevant skills that are useful for further study, particularly in social sciences, economics and business courses.

Vocational relevance
DB123 has particular relevance for anyone working in, or thinking about working in, the financial services industry such as banking and insurance. It will provide important background and contextual knowledge for anyone working in financial services. It is also relevant for people who may be offering more general financial guidance to people in their everyday lives.

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Phone:+44 (0)845 300 60 90

School Address:

Student Registration & Enquiry Service
The OU Business School
The Open University
PO Box 197
Milton Keynes
MK7 6BJ
UK

Jobs & Resumes: Milton Keynes
Houses & Roommates: Milton Keynes

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