Consumer champion unveils free online financial education course

UK needs to ‘redress the balance’ to get more Brits to understand their finances

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MoneySavingExpert.com (MSE) has teamed up with distance learning institution the Open University to a launch a free online course giving skills and knowledge to master personal finance.

MSE’s Academy of Money is a course prepared and written by the Open University with support and guidance from the consumer champion.

It is open to anyone who wants to improve their knowledge of personal finance.

Details

The course is made up of six two-hour sessions on key aspects of personal finance on the Open University’s OpenLearn platform.

People can choose which sessions to complete; including spending decisions, budgeting and taxation, borrowing money, mortgages, saving and investment, and retirement planning.

Once enrolled on the course, students have the opportunity to earn a free Open University badge and downloadable participation statement.

Redress the balance

Martin Lewis, founder of MoneySavingExpert.com, said: “Companies continually spend billions of pounds on advertising, marketing and teaching their staff to sell.

“Yet consumers don’t get any training. We need to redress that balance. We fought hard to get financial education on the curriculum, but these important lessons can’t just stop when people leave school.

“With such financial turmoil across our society, it’s crucial everyone is properly financially educated, so we can improve our nation’s poor financial capability, entrenched by a lack of early-life money lessons going back decades.

“Our aim is to provide a more formal learning environment for those who want to dedicate their time to improving their financial knowledge.

“Education is a form of financial self-defence, and so we’re delighted to encourage people to tool themselves up in our ‘Academoney’.”

Regulator approved

The course was also welcomed by the Financial Conduct Authority (FCA).

Christopher Woolard, the FCA’s interim chief executive, said: “Navigating financial services can be difficult and making the right choice can feel hard.

“To take control of your finances you need to understand the options open to you.

“As a result, we’re delighted to see this course, which will hone people’s financial skills, being available to all, free of charge.”

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