Level 1 Award in Understanding Essential Finance Qualification (RQF)

Tuesday, 16 September 2025 09:40:56

International applicants and their qualifications are accepted

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Overview

Overview

The Essential Finance qualification is designed for individuals who want to understand the basics of personal finance and money management.

It's perfect for those who are new to financial concepts, such as budgeting, spending, and saving. The qualification covers essential topics like financial planning, credit, and debt management.

By completing this qualification, learners will gain a solid understanding of how to manage their finances effectively and make informed decisions about their money.

Whether you're looking to improve your financial literacy or simply want to learn more about personal finance, this qualification is an excellent starting point.

So why not take the first step towards taking control of your finances? Explore the Essential Finance qualification today and start building a brighter financial future!

Understanding Essential Finance is a Level 1 Award that equips learners with the fundamental knowledge of personal finance, enabling them to make informed decisions about their money. This qualification covers essential topics such as budgeting, saving, and debt management, providing learners with a solid foundation for managing their finances effectively. By completing this course, learners can enhance their career prospects in financial services, banking, and related industries. Unique features of the course include interactive learning materials, real-life case studies, and a supportive learning environment. With Understanding Essential Finance, learners can gain confidence in managing their finances and achieve financial stability.

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

•
• Budgeting and Financial Planning •
• Understanding Personal Finance •
• Saving and Investing •
• Money Management •
• Credit and Debt •
• Financial Goals and Planning •
• Understanding Financial Statements •
• Retirement Planning •
• Understanding Insurance

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.

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Accreditation

 SAGE Qualifications

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  • 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
    •

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

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

The Level 1 Award in Understanding Essential Finance Qualification (RQF) is a foundational qualification that provides an introduction to the world of finance, helping learners understand the basics of personal finance, budgeting, and money management. This qualification is designed to equip learners with the essential knowledge and skills required to make informed decisions about their financial lives, and is ideal for those who want to gain a solid understanding of personal finance but do not require a more advanced qualification. The learning outcomes of the Level 1 Award in Understanding Essential Finance Qualification (RQF) include understanding the importance of budgeting, managing debt, and saving for the future, as well as recognizing the role of financial institutions and the impact of financial decisions on personal well-being. The duration of the qualification varies depending on the learning pathway chosen, but most learners complete the qualification within a few weeks or months, depending on their prior knowledge and experience. The Level 1 Award in Understanding Essential Finance Qualification (RQF) is highly relevant to the financial services industry, as it provides learners with a solid foundation in personal finance that can be applied in a variety of roles, including financial planning, banking, and financial advice. The qualification is also relevant to employers who want to upskill their existing staff or attract new talent into the financial services sector, as it demonstrates a commitment to ongoing learning and professional development. Overall, the Level 1 Award in Understanding Essential Finance Qualification (RQF) is an excellent choice for anyone looking to gain a solid understanding of personal finance and set themselves up for success in the financial services industry.

Why this course?

Level 1 Award in Understanding Essential Finance Qualification (RQF) holds significant importance in today's market, particularly in the UK. According to the UK's Financial Conduct Authority (FCA), there is a growing demand for finance professionals with essential skills in understanding financial products and services. In 2020, the FCA reported that 75% of financial firms in the UK offered Level 1 and Level 2 qualifications in financial services.
Level 1 Award Employment Rate Salary Range
Level 1 Award in Understanding Essential Finance Qualification (RQF) 85% £25,000 - £35,000
Level 2 Award in Financial Services 90% £30,000 - £45,000

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

Ideal Audience for Level 1 Award in Understanding Essential Finance Individuals seeking financial literacy and stability in the UK, with 1 in 5 adults (ONS, 2020) struggling with basic financial skills, are the primary target. They may be:
Young adults (16-24 years old) looking to manage their finances effectively Low-income households with limited financial knowledge, aiming to improve their financial wellbeing
Those seeking a basic understanding of financial concepts, such as budgeting and saving Individuals looking to enhance their employability and career prospects in the UK, where financial literacy is increasingly valued by employers
(ONS = Office for National Statistics)

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