The course covers 5 main modules of personal finance:
Debt and Finance Budgeting Buying a Home
Protection Savings and Pensions
We believe that getting your finances under control is important before you can think about saving for the future. The modules can be worked through in any order, but there is a natural progression beginning with Debt and Finance. This is because if an individual has problem debts, they won’t be concerned with putting money away for the future when it could be used now to pay off those debts. Similarly, it’s important to learn how to budget your money effectively so that you can money available to pay for the essentials and to save money for the future.
Many young people may also be interested in buying their first home, and our course talks through the process of buying a home and how to manage your finances in relation with that. We also look at Protection and why this is important to consider when planning your finances because an accident or illness can have a huge impact if you don’t have cover in place.
The final module covers saving for the future, with ideas about where to save your money to meet your financial aims. There is also a specific section on pensions to explain how they work and why it is important to save for retirement.
Detailed course coverage:
Debt and Finance
Good debts Vs. Bad debts Compound interest
Methods to work your way out of debt
Priority debts Vs. Non-priority debts
Explaining your credit score Accessing finance
Why we should budget The psychology of spending
Your current spending habits How to tackle overspending
Creating a plan Tips on how to save
Buying a Home
The process of buying a home What you can afford to borrow
What your credit score means Help to Buy schemes
Types of mortgage Costs Choosing an adviser
Why protection is important Types of insurance to consider
Who needs them and why What the State could provide you
Savings and Pensions
Why you should think about saving for the future
Types of savings you could consider Why save for retirement?
State Pensions Other Pensions you may have