The Diploma in Financial Studies (DipFs) is a comprehensive introduction to personal finance. It develops the knowledge and skills required for young people to make informed financial decisions by introducing them to the risks and challenges involved in personal finance and to tools for effective planning. Through developing core skills of critical analysis and evaluation, synthesis and written communication, DipFs provides a foundation for further study in business and finance-related disciplines, as well as a wide range of other fields. Key content areas • Importance of financial capability for immediate, short-term, medium-term and long-term financial needs; • Financial services and products, including sources of help and advice; • Borrowing, budgeting, financial planning and cash flow; • The impact of external influences at different stages in the personal life cycle; and • Risk and reward in managing personal finance; Key skills developed The qualification will encourage students to: • Analyse financial information, financial service products and services and begin to make judgements about suitability for people in different circumstances; • Understand financial concepts and terminology; • Analyse, synthesise, evaluate and reflect; • Demonstrate numeracy skills including the ability to manipulate financial and other numerical data; • Select appropriate data and information to make arguments; • Structure and communicate ideas logically and coherently; and • Increase their ability to work and learn independently. Preparation for further study The financially-related content of this qualification provides a foundation for continued study within finance and business-related disciplines, with many students going on to study subjects such as accounting, business, finance and banking at Higher Education Institutions or through further vocational training. The transferable skills developed are also valuable for further study in unrelated disciplines and the financial capability content and skills support students in making informed decisions about the value of personal, employment and study options and budgeting whilst studying.