Smart Money Management: Building Financial Literacy and Skills
This course is a 6 week course, delivered in the home to students who are unable to attend on site provision.
This course can be accredited by the NCFE at Level 1 or Level 2
Week 1: Introduction to Financial Literacy
Topics Covered:
Defining financial literacy and its importance in everyday life.
Understanding key financial concepts: income, expenses, savings, and investments.
Week 2: Budgeting Basics
Topics Covered:
Importance of budgeting: tracking income and expenses.
Steps for creating a personal budget: fixed vs. variable expenses.
Week 3: Saving Strategies
Topics Covered:
Importance of saving and different types of savings accounts.
Strategies for building an emergency fund and setting savings goals.
Week 4: Understanding Credit and Debt
Topics Covered:
What is credit? Understanding credit scores and reports.
The impact of debt on personal finances and strategies for managing it.
Week 5: Introduction to Investing
Topics Covered:
Basics of investing: types of investments (stocks, bonds, mutual funds) and their risks.
Understanding the importance of diversification and long-term planning.
Week 6: Planning for the Future
Topics Covered:
Setting financial goals: short-term, medium-term, and long-term objectives.
Importance of retirement planning and understanding pensions and retirement accounts.
By the end of this course, participants will have a solid understanding of money management principles and practical skills to make informed financial decisions, empowering them to achieve their financial goals.