Weekly study3 hours
Finance Fundamentals: Managing the Household Balance Sheet
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Finance Fundamentals: Managing the Household Balance Sheet starts by looking at borrowing and debts. We get to grips with the factors that drive interest levels. We look at the differences between ‘good’ debts and ‘bad’ debts and at the way lenders credit score those seeking to borrow money.
We then move on to examine the array of investments that people can hold – including savings accounts, bonds, shares and holdings in funds. We look at the determinants of investment returns and at the historical evidence about which are the best investments. We also look at how investments are taxed.
Housing is the next topic. We look at the costs of buying and selling property and at the rationale for owning property and the risks involved. This involves understanding the mortgage products that are used to buy property.
The course finishes at examining one very crucial investment: the investment in our pension fund to support use in retirement. We examine how occupational or personal pensions are needed to top up the pension provided by the state and at how to determine how much income you will need in retirement. We also look at the impact of the recent reforms to pensions in the UK.
The facilitated 4-week course is up-to-date and uses an array of audio-visual assets to help you through the subject matter.
Develop fundamental business and finance skills
This course has been developed by The Open University Business School – a pioneering institution that is triple accredited by AMBA, EQUIS and AACSB.
It is one of eight from The Open University, designed to help you gain fundamental business and financial skills, including communication, networking, relationship building, project management, personal financial planning and management, investment and financial services.
You can complete this course as part of one of these two programs:
Finance Fundamentals: four courses, which will give you valuable skills to manage finances at home and at work, and enable you to earn a FutureLearn Award.
Business and Finance Fundamentals: eight courses; holders of FutureLearn Certificates of Achievement for all eight courses can earn 30 UK credits towards The Open University Business School’s BA in Business Management by passing a linked Open University assessment module (requiring separate OU registration and fee).
The True Potential Centre for the Public Understanding of Finance (True Potential PUFin)
This course has been adapted from original material created by The Open University’s True Potential Centre for the Public Understanding of Finance, and was made possible thanks to the generous support of True Potential LLP.
- Different ways of borrowing
- The cost of borrowing
- The lending institutions
- Managing debts
- Savings products and their returns
- Investment products and their returns
- Buying and selling property
- Mortgage products
- The household balance sheet and how to manage it
- Pension planning
- Pension products
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Identify and understand the different forms of borrowing and the cost of debt
- Explore the different ways to invest and the returns provided by different investments
- Identify and understand how to buy and sell property
- Explore the ways to plan for a pension income
- Identify and understand how to compile a household balance sheet and to measure the risks associated with it
Who is the course for?
For further information about registration, the final assessment course, your eligibility and the BA in Business Management, visit the Open University website. The Open University does not operate in Cuba, Iran, North Korea, Sudan and Syria. This means that Learners based in those countries will not be able to convert their participation in this Program to Open University course credits.
Who developed the course?
LocationMilton Keynes, UK
World rankingTop 510Source: Times Higher Education World University Rankings 2020
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