Financial skills help you thrive in life

Financial skills course

Our financial skills course aims to give you a basic understanding of personal finances. The more you know, the better you are able to manage your money. You will also get useful tips for managing your everyday spending. The financial skills course consists of four topics: financial terminology, saving, budgeting and housing. After you have watched each video, there are a few questions about the topic for you to think about.

Financial terminology

Learn more about basic financial terms that you might have heard in the news and in discussions about saving and housing.

Watch the video about financial terminology and think about the following:

1. What effect does inflation have on your daily life?
2. How does the European Central Bank’s monetary policy affect you as a consumer?

Saving

This episode of our financial skills course deals with different ways to save and helps you find the most suitable form of saving.

Watch the video about saving and think about the following: 

1. What do you gain from saving?
2. How can you make saving a regular habit?
3. How can investment decisions contribute to positive change in society?

Budgeting

This episode of our financial skills course will introduce you to the basics of budgeting. In the video, you will learn about how emotions affect our spending decisions and about the advantages of making a budget. You will also get tips on how to get started with budgeting. 

Watch the video about budgeting and think about the following:

1. In what situations would a budget be helpful?
2. How do emotions affect your spending decisions?

Housing

This episode of our financial skills course will give you an overview of different forms of housing and take you briefly through the steps of a home buying process. In the video, we will also discuss how your personal circumstances might change during your loan period and how you can prepare for these changes.

Watch the video about housing and think about the following:

1. What do you need to consider when preparing to buy a home?
2. Does a housing company loan offer you flexibility when your circumstances change?

Take control of your finances in just 30 minutes

In order to make ends meet, you need to keep track of your income and expenses. When you go through your spending, you may also notice you have some unnecessary expenses. Cutting your expenses helps you save money and reach your goals.

1. Make a 10-minute budget.
2. Watch the video in which Pinkku Pinsku shares her ideas about budgeting
3. Find budget templates here:
   

• Budgeting tips and the Martha Association’s budget templateOpens new window
• Guarantee Foundation’s budget template Opens new window

Banking services from young age to adulthood

Which banking services do you use? It is wise to start using our digital services for daily banking already at a young age. You can easily track your finances and check the balance on your current account in Nordea Mobile or Netbank. 

In Nordea Mobile and Netbank you can also apply for a loan, so you don’t need to visit a branch to take out a student or home loan, for example. You can learn more about the services banks offer by visiting their website, by following their social media channels or by contacting their customer service.

Watch Janne Karjalainen and Minna Nuolijärvi discuss which banking services young people use and how banks can support their customers at different stages of life.

Saving gives you peace of mind

Many of us save to build a financial buffer or when we're dreaming of buying something valuable.

The sooner you start saving, the faster you will reach your goal. The most important thing is that you don’t postpone the decision to start. In the short term, you can save money in your account, but in the long term you should consider more profitable options.

Over a number of years, your savings will accrue compound interest. For instance, the capital you invest will double in about 15 years if the return on your investment is 5%. Try it out yourself and see how your savings could grow.

• Savings calculator that shows you the power of compounding
• Calculator for a one-time investment

See also

• How you can save and build up wealth while paying off your loan
• Our glossary of savings terms
• Learn about savings and investments
• Saving for your child

How can I make some extra money?

If you know your strengths, follow your passion and set goals, there’s no limit to what you can achieve. For example, you may have a hobby that can be transformed into a stream of extra income if you start a side business. You don’t need to be the first, the best or the only business to do what you do to succeed, as long as you are the best fit for your particular customers.

Watch a series of videos on YouTube in which young entrepreneur Arttu Kortelainen explains what leading yourself means and why entrepreneurship is a viable career path (available in Finnish).Opens new window 

Listen to tips by Nikolas Jokisalo, CEO of Poikain Parhaat, and Toni Ramponen, Financing Manager at Nordea, on how to advance your career and run your own business.