The new Welsh language version of the Open University’s MSE Academoney course is launched

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How the course works

The course consists of six two-hour study sessions that cover all major aspects of personal finance:

  1. Make good spending decisions: You will examine what behavioral and marketing pressures influence purchasing decisions and look at a simple four-step decision model. Developing your approach to money management will underpin this session and the rest of the course.
  2. Budgeting and Taxation: This session examines how net income is calculated. You will examine spending patterns, how social security and income tax work, and planning a successful budget.
  3. Lend money: This session examines how different types of debt work, what are the differences between them, and what are the dangers. It examines the concept of “bad debt, good debt” and ultimately teaches you how to take out reasonable loans.
  4. Understand mortgages: Mortgage products are complex. This session provides a basis for how it works, interest rates, repayments, and possible penalties. It also examines mortgages from a lender’s perspective to explain why your cellular plan may only dictate how much you can borrow.
  5. Save and invest: This session will explain the difference between saving and investing, as well as understanding different types of saving vehicles and the fundamentals of investing such as stocks, bonds and commodities and the risks involved.
  6. Planning for retirement: In this final session, you will understand how state, occupational and personal pension systems work and the differences between them. They are intended for both those who are about to retire and those who have many years left.

As with the English course Academi Arian is completely flexible and allows students to study at their own pace and maybe even pick just one topic to brush up on. It is available to anyone who wishes to improve their personal finance knowledge of their own interest and financial capacity, or it can provide an academic foundation for those who work in the consumer aid industry to support their work.

In addition to a free downloadable declaration of attendance, course enrollment gives students the option to earn a free digital OU badge when they have completed all six sessions. This is a way to show interest in the topic and commitment to your career as you continue to grow professionally.

The course was translated as part of the Wellbeing and Mental Health collection for OpenLearn in Wales. a selection of free, bilingual resources in Welsh and English sponsored by the Higher Education Funding Council for Wales. The collection was supplied by the Open University in Wales in collaboration with the Open University Students’ Association, Wrexham Glyndŵr University and Adult Learners Wales.



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