You and your money: personal finance in context
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| 3 Tutor-marked assignments (TMAs) | |
| End-of-course assessment | No residential school |
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This course is available for study in the countries shown. Fees may vary by country.
Summary
Are you interested in making more informed decisions about your personal finances? You and your money is a practical course to that will develop your financial skills and improve your understanding of the changing social and economic environment in which financial decisions are made. You’ll explore questions such as: Why do people borrow so much? How can I plan for my retirement? By the end of the course, you’ll have a detailed understanding of some key personal finance issues that affect people’s lives, and the skills and knowledge needed to improve your own financial capability. The course also prepares you for higher level study.
Course content
This course covers four broad themes. The first theme is the importance of the changing economic and social environment to your personal finances. This is taught by placing financial topics – such as borrowing and debt; savings and investments; the housing market; and pensions – within the context of social and economic change. So, for example, you’ll examine not just the different types of mortgages available, but also explore the underlying social and economic changes currently affecting home ownership, interest rates, and borrowing.
The second course theme is the relationship between individuals and households in financial matters, a relationship that is crucial to situating financial decisions in their real context. This relationship can include various issues, from thinking about how a couple manages their money, to the financial implications of having children, or of caring for an elderly parent.
The third course theme considers the importance of change over the course of a lifetime. This means thinking not only about how your own income and spending plans might change, but also how such change interacts with broader social and economic change. For example, as the government and employers reduce pension provision, it’s increasingly likely that individuals will have to think ahead in order to plan and provide for their old age: this course discusses some of the options.
The final theme is financial planning. This is a crucial element of personal finance and you will explore the financial planning process, working through the four key stages: assessing your financial position; deciding upon a financial plan; acting upon this plan; and reviewing the plan. You will also learn about –and practise using – all the main tools used in personal financial planning, from personal balance sheets, to budgeting and cash-flow statements. These tools can be kept and used for your own personal use after the course.
Taken together, the knowledge and understanding you gain from studying You and your money will deliver two types of skills: skills that are highly practical and relevant in your everyday life, and academically-relevant skills that are useful for further study, particularly in social sciences, economics and business courses.
Vocational relevance
DB123 has particular relevance for anyone working in, or thinking about working in, the financial services industry such as banking and insurance. It will provide important background and contextual knowledge for anyone working in financial services. It is also relevant for people who may be offering more general financial guidance to people in their everyday lives.
The Association of Chartered Certified Accountants (ACCA), the largest and fastest growing global professional accountancy body, supports and endorses You and your money: personal finance in context as making a major contribution to the development of financial literacy and its education across the UK. The ACCA supports the development of a financially intelligent society, and believes that this Open University course can play a major role in helping to educate people about the crucial issues of personal financial management.
Entry
You are strongly advised to start your OU studies with a Level 1 course that provides the study skills needed for higher education and distance learning. DB123 provides core subject knowledge and academic skills that will help prepare for studying at a higher level, particularly in social sciences or business courses.
If you have any doubt about the suitability of the course, please contact our Student Registration & Enquiry Service.
Qualifications
DB123 is a compulsory course in our
- BA/BSc (Honours) Criminology and Psychological Studies (B48)
- Foundation Degree in Financial Services (G16)
- Diploma of Higher Education in Financial Services (E54)
It is an optional course in our
- BA (Hons) Leadership and Management (B54)
- BA (Honours) Business Studies (B04)
- BA/BSc (Honours) Social Sciences (B06)
- BA/BSc (Honours) Economics and Mathematical Sciences (B15)
- BA/BSc (Honours) Environmental Studies (B19)
- BA (Honours) Politics, Philosophy and Economics (B45)
- BA/BSc (Honours) Social Policy and Criminology (B57)
- Diploma of Higher Education in Business (E42)
- Diploma of Higher Education in Leadership and Management (E43)
- Diploma of Higher Education in Social Sciences (E50)
- Foundation Degree in Business (G07)
- Foundation Degree in Leadership and Management (G08)
- Certificate in Business Studies (C63)
- Certificate of Higher Education in Social Sciences (C95)
The degree in social sciences is available with a number of subject strands and this course would be particularly helpful for the economics strand. It can also count towards most of our other degrees at bachelors level, where it is equally appropriate to a BA or BSc. We advise you to refer to the relevant qualification descriptions for information on the circumstances in which this course can count towards these qualifications because from time to time the structure and requirements may change.
If you have a disability or additional requirement
Written transcripts of any audio components and Adobe Portable Document Format (PDF) versions of printed material are available. Some Adobe PDF components may not be available or fully accessible using a screen reader and musical notation and mathematical, scientific, and foreign language materials may be particularly difficult to read in this way. The books are available in a comb-bound format. Other alternative formats of the course materials may be available in the future. Our Services for disabled students website has the latest information about availability.
If you are a new student, or new to courses using a computer or the internet, you will need to inform us of your particular needs as soon as possible, as some of our support services may take several weeks to arrange. Details of how to do this and our range of support services are described in our booklet Meeting Your Needs which you can download or request from our Student Registration & Enquiry Service.
You can also find information about accessible course materials, financial support and the Disabled Students' Allowance, equipment and other services, on our Services for disabled students website. It also includes our contact details for advice and support both before you register and while you are studying.
Course materials
What's included
Course textbook, DVD-ROM, study guide and course website.
Computing requirements
This course includes online computer activities – you can access these using a web browser that can play Flash and Shockwave. Some of your course software will be provided on disk.
You will need internet access and a computer. If you have purchased a new Windows computer since 2002 it should meet your course computing requirements. Check our Technical Requirements section if your computer is older than this or is otherwise unusual. Please note that you cannot use an Apple Mac or Linux computer unless it is running windows Boot Camp or similar.
Teaching and assessment
Support from your tutor
You will have a tutor who will help you with course material and mark and comment on your written work, and whom you can ask for advice and guidance with your studies. If you are new to the OU, you will find your tutor is particularly concerned to help you with your study methods. There will also be group tutorials which you are encouraged but not obliged to attend. Where your tutorials are held will depend on the number of students doing the course locally to you.
Contact our Student Registration & Enquiry Service if you want to know more about study with The Open University before you register.
Assessment
The assessment details for this course can be found in the facts box above.
You can choose whether to submit your tutor-marked assignments (TMAs) on paper or online through the eTMA system. You may want to use the eTMA system for some of your assignments but submit on paper for others. This is entirely your choice. The end-of-course assessment (ECA) must be submitted on paper.
Your tutor will mark and provide feedback on your TMAs. The end-of-course assessment (ECA) will be marked by another tutor on DB123. You will be given guidance and support in preparing for these assignments.
Students also studied
Students who studied this course also studied at some time:
Future availability
The details given here are for the courses that start in May and November 2010. We expect it to be available twice a year.
How to register
To register a place on this course return to the top of the page and use the Click to register button. For more information and advice about registration see OU Study Explained.
About this page
An undergraduate course in Business and Management and Social Sciences.
Study explained
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