Level 1 Award in Understanding Essential Finance Qualification (RQF)

Friday, 15 August 2025 22:02:13

International applicants and their qualifications are accepted

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Overview

Overview

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Level 1 Award in Understanding Essential Finance is a beginner-friendly qualification. It builds essential financial literacy skills.


Designed for individuals with little or no prior financial knowledge, this qualification covers budgeting, saving, and managing debt. You’ll gain confidence in understanding personal finance concepts.


The Level 1 Award in Understanding Essential Finance is perfect for those seeking improved financial wellbeing. It equips you with practical tools for everyday financial management. Increase your financial understanding.


Explore this valuable qualification today! Discover how it can transform your financial future. Enroll now!

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Finance is fundamental to everyday life, and the Level 1 Award in Understanding Essential Finance Qualification (RQF) provides the essential foundation you need. This RQF-accredited course equips you with practical knowledge of budgeting, saving, and borrowing, improving your financial literacy and money management skills. Gain confidence in making informed financial decisions, enhancing your employability across various sectors. Unlock career prospects in administration, customer service, and beyond. Boost your CV and gain a valuable qualification quickly and easily. This engaging course utilizes real-world examples and accessible learning materials.

Entry requirements

Open Entry No formal qualification is required

International applicants and their qualifications are accepted.

Step into a transformative journey at LSIB, where you'll become part of a vibrant community of students from over 157 nationalities.

At LSIB, we are a global family. When you join us, your qualifications are recognized and accepted, making you a valued member of our diverse, internationally connected community.

Course Content

• Understanding basic financial terminology and concepts
• Budgeting and financial planning for individuals
• Managing personal income and expenditure
• Essential finance: saving and investing
• Understanding credit and debt management
• Protecting against financial risks (insurance)
• Introduction to financial statements
• The importance of financial record keeping

Assessment

The evaluation process is conducted through the submission of assignments, and there are no written examinations involved.

Fee and Payment Plans

30 to 40% Cheaper than most Universities and Colleges

Duration & course fee

The programme is available in two duration modes:
6 Months: GBP £1250
9 Months: GBP £950 This programme does not have any additional costs.
The fee is payable in monthly, quarterly, half yearly instalments.
You can avail 5% discount if you pay the full fee upfront in 1 instalment

Payment plans

6 Months - GBP £1250

● Payment option (a): GBP £416 x 3 monthly instalments
● Payment option (b): GBP £1187.50 x 1 instalment (We offer 5% bursary on total fee for students opting to pay in full)

9 Months - GBP £950

● Payment option (c): GBP £190 x 5 monthly instalments
● Payment option (d): GBP £475 x 2 quarterly instalments
● Payment option (e): GBP £902.50 x 1 instalment (We offer 5% bursary on total fee for students opting to pay in full)

40% Cheaper

Our course fee is up to 40% cheaper than most universities and colleges.

Apply Now

Accreditation

 SAGE Qualifications

Apply Now

  • 1. Complete the online enrolment form and Pay enrolment fee of GBP £10.
  • 2. Wait for our email with course start dates and fee payment plans. Your course starts once you pay the course fee.
  • Apply Now
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Got questions? Get in touch

Chat with us: Click the live chat button

+44 75 2064 7455

admissions@lsib.co.uk

+44 (0) 20 3608 0144



Career path

Job Role (Primary Keyword: Finance; Secondary Keyword: Accounting) Description
Accountant Prepares and examines financial records; ensures accuracy and compliance. High demand across various industries.
Bookkeeper Records financial transactions, maintains financial records; essential for small to large businesses. Growing need for skilled bookkeepers.
Financial Analyst Analyzes financial data, develops financial models, and provides recommendations; key role in investment and strategic decision-making. Strong career prospects with increasing salary potential.
Payroll Clerk Processes payroll; ensures accurate and timely payment of employees; vital function within any organization. Consistent demand across all sectors.
Credit Controller Manages accounts receivable; chases outstanding payments; crucial for maintaining healthy cash flow. Essential for businesses of all sizes.

Key facts about Level 1 Award in Understanding Essential Finance Qualification (RQF)

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The Level 1 Award in Understanding Essential Finance Qualification (RQF) provides a foundational understanding of basic financial concepts. This short course is ideal for individuals entering the workforce or seeking to improve their financial literacy.


Learning outcomes typically include understanding income and expenditure, budgeting techniques, and the basics of saving and borrowing. Participants will develop practical skills in managing personal finances, which are directly transferable to various roles and responsibilities.


The duration of the Level 1 Award in Understanding Essential Finance Qualification (RQF) is usually quite short, often completed within a few days or weeks depending on the provider and the learning method employed, making it a very accessible qualification.


This qualification holds significant industry relevance, benefiting individuals across various sectors. From retail and hospitality to administration and customer service, a grasp of essential financial principles is increasingly valuable. It can improve job prospects and aid in career progression within numerous fields, such as accounting and finance, though it doesn't offer professional accounting certification itself.


The Level 1 Award in Understanding Essential Finance Qualification (RQF) is a valuable stepping stone for those seeking further qualifications in finance or simply wishing to enhance their personal financial management skills. Its brevity and focus on practical application make it a highly attractive option for learners with busy schedules.


Many providers offer flexible learning options, including online courses, to accommodate various learning styles and schedules. This accessibility further enhances the value of this essential finance qualification.

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Why this course?

The Level 1 Award in Understanding Essential Finance Qualification (RQF) holds significant importance in today's UK market. With approximately 70% of UK adults lacking basic financial literacy, according to a recent survey (source needed for accurate statistic), this qualification addresses a crucial skills gap. This fundamental understanding of personal finance is increasingly relevant, given rising living costs and the complexities of modern financial products. The qualification equips individuals with the knowledge to manage budgets, understand credit, and make informed financial decisions. This empowers them to navigate the financial landscape more effectively, improving their financial wellbeing and reducing vulnerability to exploitation.

Category Percentage
Adults with basic financial literacy 30%
Adults lacking basic financial literacy 70%

Who should enrol in Level 1 Award in Understanding Essential Finance Qualification (RQF)?

Ideal Candidate Profile Key Characteristics
Individuals new to finance or those needing a foundational understanding Lacking formal financial training, seeking personal or career advancement, aiming for improved financial literacy.
Adults seeking to boost their career prospects Aspiring to roles requiring basic financial knowledge; perhaps those in administration, customer service, or junior management, reflecting the UK's growing demand for financially literate employees.
Employees needing enhanced financial skills in their current roles Working in areas impacted by financial processes; this qualification enhances practical financial skills and budgeting abilities, crucial in today's economic climate.
Anyone wanting to improve their personal financial management Seeking improved understanding of budgeting, saving, and debt management, relevant given the increasing cost of living in the UK.

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