Money - Lesson 1 LO: To be able to understand how dealing with money changes as you get older.

Money - Lesson 1

LO: To be able to understand how dealing with money changes as

you get older

Match up the definitions...Assets

National Insurance

Standing Order

Dole

Credit

Income Tax

Overdraft

Interest

Deposit

Gross

These are things that you own which are worth money

Money that is made available to you

Initial payment which secure the purchase of something

Way of paying bills from your bank account automatically

Nickname for the benefit called ‘Jobseekers allowance’

Amount of money before deductions

Tax you pay on all money earned

Money you earn for putting your money in the bank, building society etc.

Government deduction from your wages. It is used to pay for benefits that you might need to claim, like Incapacity Benefit.

When a bank allows you to draw out more money than you have in your account

Way to make regular automatic payments from a bank account

Value Added Tax: a tax paid on goods and services. Set as 20% as of January 1st 2011

VAT Direct Debit

Spend your £20 (be honest!)

Give to charity

Train/Bus TicketChocolate

Toiletries

Fast Food

Cinema Ticket

Mobile top up/contract

Clothes

Itunes

Can of

coke

What money do you receive or earn?

• What do you do with your money?• How might this change as you get older?• Think of yourself in 20 years time. What do

you think the main things are that you will spend your money on? How has this changed?

How does this change with time?

• Using the sugar paper, plot how your dealings with money changes as you get older.

• Think about when you start earning and where that money goes

• Getting married • Having a family• Retirement

When should you start taking responsibility for your money?

Child Teenager

Adult Pensioner

Money - Lesson 2

LO: To understand the consequences of poor money

management

Famous Money Quotes

Look at the money quotes...

Do you agree with them?

Letters to Jade…

• What do you notice about the letters?

• Create a role play based on the letters.

• Think about what happens to Jade financially over time.

• Think about the future - what options does Jade have?

Advise for Jade

• In pairs come up with 2 pieces of advice for Jade for her future financial dealings

Money - Lesson 3

LO: To know what the estimated cost of living is.

The future

• What are you not looking forward to in the future financially speaking?

One Day...

What are you looking forward to doing with the money you earn?

You are now going to create a ‘One Day’ poster which lists the items you want and

the estimated costs for these items.

One Day...

Were your estimations

correct?

Swap your work with your

partner and see if they agree

with your estimations.

Estimated costs...

House in Hedge End = The majority of sales in Hedge End during the last year were detached properties, selling for an average price of £330,154. 

1 Week Holiday all inclusive to Spain = Average £750

Car = Average cost of a new car in 2014 was 27,000

Quiz

• Create a mini quiz to test a friend or partner on their knowledge of the money unit.