One of Scotwest Credit Union’s statutory objectives is to help our members in the management of their financial affairs by providing training and education. We are always on the lookout for information, instruction and courses which we feel would be of help in economically empowering our members.

The following three courses, produced by the Open University, are ideal for Members interested in developing their personal finance skills and improving their financial decision making.

Managing My Money – practical guidance to develop your personal finance skills

Managing My Financial Journey – a guide to how the financial industry has changed since the global financial crisis

Managing My Investments – a guide to investment plans, portfolios and pension planning

The courses are free of charge and available through the Open University website here.

Managing My Money

With household budgets under pressure in recent years, there has never been a better time to improve your personal finance skills. This award-winning introductory course is designed to develop those skills by giving you practical guidance in compiling a budget and how to use it to make good decisions about your spending.

The course involves 8 weekly modules involving 3 hours of study per week:

1.    Financial planning and the life-course.
2.    Income, taxation and benefits.
3.    Expenditure and budgeting.
4.    Debt and borrowing.
5.    Savings and investments.
6.    Housing and the household balance sheet.
7.    Pensions.
8.    Insurance.

Find out more about this course and sign up here.

Managing My Financial Journey

The dramatic events of the global financial crisis transformed the UK financial services industry. This course examines the state of the UK financial industry in the aftermath, how the industry has changed from structure to regulation and, most importantly, how the industry is now working for you as a consumer.

This course runs over 4 weeks with three hours of study per week:

1.    The financial services industry – its origins and development in the UK.
2.    The post-crisis financial service industry – new players, new issues, new rules.
3.    What’s on offer? The products in the market place and the current issues.
4.    My rights and my protection – regulation and consumer protection.
Find our more about this course and sign up here.

Managing My Investments

How do you manage your savings and investments? Are you investing money for the future or do you find the array of investment products available baffling? This course will guide you through the investment maze to bring order and focus to your investment plans and help you understand company performance, analyse portfolio risk and plan for your pension.

This 6 week course covers the following topics:

1.    Why and how should we invest for the future.
2.    The spectrum of personal investments.
3.    Devising investment strategies – principles and practice.
4.    Investment in practice: practices, styles. History and performance.
5.    Investing for retirement: planning your pension.
6.    Investment and human behaviour.

Find out more about this course and sign up here.

With thanks to the True Potential Centre for the Public Understanding of Finance.