Once enrolled on the course, you can earn an Open University badge and downloadable statement of participation – which can be used to provide evidence of your interest in the subject or continuing professional development.
What does the MSE Academy of Money course cover?
The course is made up of six two-hour sessions on key aspects of personal finance, including explanatory videos by MSE founder Martin Lewis. You can choose to complete one session, more or all of them:
Making good spending decisions. This session develops your approach to money management by exploring the behavioural and marketing pressures which influence buying decisions, and looking at a simple four-stage decision-making model.
Budgeting and taxation. This session looks at how to calculate net incomes. It explores spending patterns, how national insurance and income tax work, and how to build a successful budget.
Borrowing money. This session looks at how different types of debt work, exploring the differences between them and the dangers. It looks at the concept of "good debt, bad debt" and how to borrow sensibly.
Understanding mortgages. This session gives a grounding in how mortgage products work, including interest rates, repayments and possible penalties. It also looks at mortgages from the lender's perspective, explaining why your mobile phone contract could affect how much you borrow.
Saving and investment. This session explains the difference between saving and investing. It looks at different types of savings vehicles and the basics of investments such as shares, bonds and commodities – and the associated risks.
Planning for retirement. This session is designed both for those who are retiring imminently and those who have many years to go. It looks at how state pensions, occupational pension schemes and personal pension schemes work, and the differences between them.
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