Financial Literacy is a MOOC (Massive Open Online Course) that is run by Open2Study and contributed by Macquarie University. The free to take class is one that explores what it means to be financially literate. The course starts on the 9th of February (2015)* and explores a number of topics that include, saving money, debt, and investments.
The course is broken up into four weeks with each week containing twelve of activities. The way in which the class is conducted is via short video lectures that are released in a tiered fashion. The course is structured with roughly ten video lectures each week, followed by a one question quiz. At the end of the lectures is a small five question assessment.
The lecturer is Peter Mordaunt who is the Finance Lecturer at Macquarie University. Mordaunt has a casual way of discussing the topics and explains financial concepts in a simple way that financial novices can easily understand. The course also has a quest lecture by Paul Clitheroe, Professor of Financial Literacy at Macquarie University and television presenter.
I have previously taken this course and found it very informative, so much so I am taking a refresher on it this year. There are a number of strategies that I have taken from this course and implemented in my financial life. Strategies such as the 10% rule, whereby you put 10% of any incoming money into a savings account, has seen me actively saving throughout the year. Where previously I was a residual saver, this strategy has seen me save no matter what circumstances in my life.
Financial Literacy is a particularly great course to do for any Australian residence, as unlike a large number of courses available online, it is made for the Australian market. I would encourage anyone who has ever been interested in their personal finance or is just looking for ways to save money, to consider taking this course.
*Please note that the times and dates are correct at the time of writing this post. If you are interested in taking this course at another time, please check the Open2Study website for different start dates.