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Managing My Money for Young Adults

This course is designed to help young people understand financial management and financial products. Although the target audience is 16-18 year olds the course is of great help to anyone wanting to understand how to manage personal financial matters  and is particularly useful for those who are about to leave the family home or who have recently left home.

The course content matches the timeline of young people’s financial experiences. So the course starts by looking at bank accounts, savings accounts and credit cards. The course then moves on to issues around earning money including understanding tax.

Budgeting and how to be a shrewd shopper – including how to shop safely online are covered.

The course covers the financial consequences of the alternative destinations taken on leaving school and provides detailed guidance on financing further and higher education. There is also a session on living in shared rented property – something a great many young people do when first leaving the family home.

The course also provides guidance on crucial financial matters that young people need to prepare for to help them in later life - how to borrow sensibly, how to manage credit ratings, how to get onto the housing ladder and how to plan for a pension.

After studying this course you will be able to:-

  • Budget effectively, taking into account the changes encountered on leaving the family home
  • Understand how to choose and manage bank and savings accounts
  • Understand tax, national insurance and how state benefits are changing
  • Understand how to finance further and higher education studies
  • Know how to borrow sensibly and manage debts effectively
  • Understand what is involved in buying a home and pension planning

In addition to the module text and extensive audio visual content (including several sessions of guidance from moneysaving expert and TV star Martin Lewis) a full glossary is provided to help you navigate your way through the jargon that is used in financial business. Self-assessment questions - with feedback provided - are included to enable you to ascertain how well you are getting to grips with the issues and subjects explored in the module.

The production and presentation of this course has been made possible by the kind support of the Chartered Accountants' Livery Company. We thank the Company's Charity Trustees for this generous support.

Managing My Money for Young Adults is permanently available on OpenLearn. The course also has periodic presentations on FutureLearn too.

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