What is it?
Understanding personal finance is a practical, life-long skill. You will focus on how to manage money effectively using tools such as budgets and cash flow forecasts. As well as understanding the technicalities of savings, mortgages, pensions etc. You will also learn about regulation, consumer protection and the key trends shaping the banking and financial sector.
Why study this subject at Blackpool Sixth?
Our course has been shared with schools and colleges nationally as an example of best practice. You will have a golden opportunity to gain the skills to make informed decisions and manage your finances effectively throughout your life.
What skills will I develop?
- Prepare and interpret budgets and cash flow forecasts
- Understand how financial products work, for example what is the difference between APR and AER?
- Appreciate how personal finance fits within the wider context of the financial services industry
- Analyse an individual’s personal circumstances and present suitable recommendations to address their financial priorities
How will I be taught?
- You will be provided with a free textbook to accompany each of the 4 units
- We will guide you carefully through the course syllabus so that you can focus on absorbing the most important information
- We make use of a variety of activities in class including pair and group work, discussions, video clips, research etc.
How will I be assessed?
100% exams for the 4 units. For each unit there are two exams: one multiple-choice and one written.
- Year 1, units 1 and 2: Certificate in Financial Studies (CeFS)
- Year 2, units 3 and 4: Diploma in Financial Studies (DipFS)
Teacher expertise
Members of the department have taught the qualification for a number of years. There is also extensive experience of working in the Financial Services industry.
Field trips, projects and employability opportunities
- Annual trips to destinations such as Paris and New York
- The opportunity to apply for a place on the exclusive ‘Career Ready’ programme
- The BSIT ‘Employability Award’ for those aiming to secure a job straight after college
Where does it lead?
The qualification can help you pursue a career in banking and financial services such as accountancy, sales and marketing etc. Your next step could be an apprenticeship or a degree course in banking, finance, investment etc.
Equipment
None specific.
Examination board
London Institute of Banking and Finance.
Specific Requirements
- If you have taken a GCSE/BTEC business course at school, then a grade 4 (C) or BTEC pass is required.
What will I study?
• Budget and cash flow forecasts
• Methods of payment such as debit cards, standing orders, PayPal etc.
• Bank accounts
• Savings, investment, borrowing and insurance products
• Sources of information and advice
• Earnings and taxation
• Dealing with debts
• State benefits
• Consumer protection and regulation
• Ethics and sustainability
• External factors and trends
• The financial system
• Marketing in financial services