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Managing My Money for Young Adults'

Learn how to make the most of your money and learn the skills you need.

FutureLearn

Summary

Price
Free
Study method
Online
Duration
8 weeks · Self-paced
Qualification
No formal qualification

Overview

Learn how to make the most of your money and learn the skills you need to navigate the complex world of personal finance.

Course media

Description

Take control of your financial future by learning how to manage your money

Despite the introduction of mandatory personal finance education in UK secondary schools, those aged 18-24 are one of the age groups most likely to be in debt – representing over a fifth of the UK’s debt-burdened population.

In this course you’ll learn to budget effectively, taking into account changes like getting older and leaving the family home. You’ll understand how to choose and manage savings accounts, and you’ll discover how to borrow sensibly and manage debts effectively. Ultimately, you’ll gain the ability to plan ahead and make your goals financially achievable.

What topics will you cover?

  • Week 1 - Savings accounts, bank accounts, and credit cards.

  • Week 2 - The world of work, pay and taxation.

  • Week 3 - How young adults spend their money, possible risks of shopping online, and simple budgeting for young adults living in the family home.

  • Week 4 - Options after secondary education, financial consequences of higher education, and budgeting and financial management when living away from home.

  • Week 5 - Living in a shared rental with other young adults.

  • Week 6 - Effective management of personal debt.

  • Week 7 - Credit ratings: how to attain and maintain an excellent credit score.

  • Week 8 - Property and pensions.

What will you achieve?

By the end of the course, you'll be able to...

  • Demonstrate how to budget effectively, taking into account changes such as getting older and leaving the family home
  • Explore and understand how to choose and manage bank and savings accounts
  • Assess and understand how to finance further and higher education studies
  • Evaluate lending and how to borrow sensibly and manage debts effectively
  • Calculate and plan ahead to make life's goals financially achievable

Who is this course for?

16-18 year olds preparing for life after school or college. It is also relevant to those in their early 20s, preparing to leave higher education - or who have just recently left. This course is aimed at learners in the UK, however many of the subjects covered are relevant to learners in other countries.

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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