As an Applied General qualification, the Diploma in Financial Studies (DipFS) provides an in-depth exploration of the key concepts of financial capability and how they are applied to achieve longer-term financial sustainability. Its purpose is to prepare students for further study through the development of the core skills of independent thinking, critical analysis and evaluation, synthesis, verbal communication (through classroom discussion) and written communication. DipFS builds on the skills and knowledge acquired through successful completion of the Certificate in Financial Studies (equivalent to AS, completed in Yr 12) and extends this to include areas such as financial sustainability within the wider financial services system and the long-term impact of debt. Within DipFS the student explores the political, economic, social, technological, ethical and legal impacts of personal finance in the short, medium and longer terms. Through this, a greater understanding of the impact that global events can have upon consumers and the wider financial services industry is developed. DipFS therefore enhances the ability to make informed financial decisions through effective planning to manage the risks and challenges involved in personal finance.
Key content areas
• Importance of financial capability in the immediate, short, medium and long term.
• The impact of external influences at different stages in the personal life cycle.
• Risk and reward in managing personal finance.
• Maintaining financial sustainability and avoiding long-term debt.
• The financial services system and financial sustainability (individual and general).
• Marketing techniques.
A minimum of 5 subjects at Grade 4 or higher including a minimum of a Grade 4 in GCSE Mathematics and a Grade 5 in English
This qualification develops knowledge and understanding of the financial services sector. Students will be in a position to make informed choices, whether this be to pursue a career within the financial services sector or whether to apply the financial skills that they have developed to other careers. For students seeking to continue in education, DipFS provides a foundation for further study in business and finance-related disciplines, as well as a wide range of other commercial or not-for profit sectors. For students who choose to move straight into employment, DipFS may support access to employment in areas such as in insurance, banking, and office administration, or in the voluntary sector such as with Citizens Advice