Managing My Money for Young Adults
Duration 8 weeks
Weekly study 3 hours
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?
This course will not run again on FutureLearn; however, a version of the course is available on OpenLearn.
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.
Who is the 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.
This course has been generously funded by The Chartered Accountants’ Livery Company Charity.
Who developed the course?
The Open University (OU) is the largest academic institution in the UK and a world leader in flexible distance learning, with a mission to be open to people, places, methods and ideas.
- LocationMilton Keynes, UK
- World rankingTop 510Source: Times Higher Education World University Rankings 2020