People often do not fully understand the consequences of their choices when it comes to their money, leaving them vulnerable to overspending and financial crises. Financial literacy contributes to alleviating this problem. Good financial decision making has a positive influence on overall wellbeing, allowing people to maximize their opportunities and lead more fulfilling lives. Personal finance teaches individuals financial skills so that they can manage their money better.

Personal finance encompasses many areas and core topics such as decision making, cash-flow management, savings, credit, debt, housing and planning for the future. Useful websites and appendices are provided for additional information and reading.

Contents include the following:

• The macroeconomic environment, economic variables and personal finance
• Your relationship with money
• Time value of money
• Introduction to investments
• Investments: equity/stocks (shares); fixed equity; listed property; unit trusts/collective investment schemes
• Personal finance: banking services and products
• Managing your credit
• Insurance and assurance
• Retirement