Knut Wicksell Center for Financial Studies in cooperation with Folkuniversitetet introduces a new course of Personal Finances for immigrants in Sweden. The aim of the course is to provide necessary information and knowledge that will help individuals make informed decisions now and in the future.
In the modern age, we make financial decisions every day. Do we buy that TV with cash or do we get a loan, do we buy an apartment or rent one, and which pension fund should we place our savings in?
Making good financial decisions is difficult, especially considering the enormous amount of services and products available and the complexity of some of the terms. To navigate this world of finance you need a certain degree of financial knowledge. This is especially important for people coming from outside Sweden, who are coming to a new country with new rules. For them, the institutional and cultural settings are new, and in many cases the language is unfamiliar. Even a simple task of collecting all necessary information can be an obstacle in the way to the sound financial decision. As a result, immigrants become an easy target for high-cost borrowing and end up over-indebted.
One way to help with financial decision making is to share with them necessary knowledge on how to evaluate their financial situation, what kind of products are available for them and what kind of information one should pay attention to while making a financial decision. In cooperation with Folkuniversitet, Knut Wicksell Center for Financial Studies is organizing a series of lectures on making good financial decisions in Sweden. We will hold lectures covering four topics:
Financial behavior and mistakes that people make, How to buy a house in Sweden, how to choose the best pension plan for you, and How to find the right balance between risk and return when saving and investing.