Managing Personal Finances

Managing Personal Finances is a comprehensive programme designed to equip you with essential knowledge and skills for effective financial management. The course covers various topics: budgeting, saving, understanding mortgages, interest rates, and inflation.

Requirements

Adults aged 19+ who do not already have a GCSE at grade C (or equivalent) in maths can apply.

Where This Will Lead

This will be a stepping stone qualification which will help you progress to further qualifications such as a Level 2 Functional skills in Maths or GCSE.

Earned Qualifications

Min Entry Age

19

Delivery

Online Learning

Credit Value

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Funding

Multiply Scheme

Duration

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TQT ?Total Qualification Time

12 hours

GLH ?Guided Learning Hours

12 hours

Level

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Location

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Sector

Functional Skills

Qualification Type

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Region

Staffordshire, West Midlands

Awarding Body

Generic Award

“Managing Personal Finances” is a comprehensive programme designed to equip you with essential knowledge and skills for effective financial management. The course covers various topics: budgeting, saving, understanding mortgages, interest rates, and inflation

This programme is particularly beneficial for those who:

Understanding Budgeting:
- Introduction to the concept of budgeting
- Techniques for tracking income and expenses
- Strategies for creating a realistic and sustainable budget
- Tools and resources for budget planning and monitoring
Principles of Saving:
- Importance of saving and building an emergency fund
- Different saving strategies and methods
- Understanding saving accounts and other saving instruments
- Setting and achieving saving goals
Mortgages Explained:
- Basics of mortgages and home buying process
- Types of mortgages available and their features
- How to compare mortgage options and choose the right one
- Understanding the implications of mortgage agreements
Navigating Interest Rates:
- Understanding how interest rates work
- Impact of interest rates on loans and savings
- Strategies to benefit from fluctuating interest rates
- Interest rates and their effect on personal finances
Inflation and Its Impact:
- What is inflation, and how is it measured?
- Effects of inflation on personal savings and purchasing power
- Strategies to protect finances against inflation
- Understanding the relationship between inflation, interest rates, and the economy
Practical Workshops and Case Studies:
- Hands-on sessions for budget planning and analysis
- Simulations of mortgage calculations and comparisons
- Case studies on managing finances in different economic scenarios
Resource Toolkit:
- Access to financial planning tools and templates
- List of recommended apps and software for financial management
- Resource guide for further reading and research

Additional information

Awarding Body	Generic Award
Delivery	Online Learning
Funding Type	Multiply Scheme
Region	Staffordshire, West Midlands
Minimum Entry Age	19
GLH	12
TQT	12
Sector	Functional Skills

Helping you to make decisions on learning, training and work at all stages in your career

Things that affect your choices, for example, skills and experience, money and housing, personal issues such as health, relationships and discrimination.

If you need career advice and support before, during or after you’ve completed your course, our trained advisors can help by providing you with in-depth career information, advice and guidance to make sure you make the right informed choices.