money - lesson 1 lo: to be able to understand how dealing with money changes as you get older
Post on 19-Jan-2016
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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.
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