How can financial planning support independent living?

Citizenship

How are financial products changing the way we manage money?

How do financial systems affect access to housing in the UK?

How can investment and finance transform communities?

Using the example of housing, pupils explore a range of different financial decisions, products and services. They consider how they can prepare to become financially independent and what advice is available to them.

How can we prepare well for financial decision making?

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

to find out what your friends are spending

Which is a good reason to create a budget before signing a tenancy agreement?

Your {{}} is the money you receive, usually earning it from a job, benefits or both.

this means you must stick to agreed dates or face consequences

this outlines your rights and responsibilities as a renter

this explains why it is important to be aware of more than just rent

Match the statement with its correct explanation.

When should you start thinking about financial planning?

When you live in a house that is not yours and pay a monthly fee, it is called ...

to support your future financial stability

What is the main reason for saving a portion of your income regularly?

What is the most expensive area of the UK to rent a property?

Social housing is offered at {{}} rents than private renting.

Why might someone choose to rent privately instead of buying a home?

What is most likely to make it harder for first-time buyers to get on the property ladder?

People with limited savings or income might consider {{}} ownership, where they part buy and part rent a home.

someone who needs flexibility for moving in future

someone who cannot afford to buy, but needs lower rent

someone who wants long-term stability and to build equity

Match each housing option with the goal of someone who chooses it.

This lesson was made for home learning during the pandemic.

How can financial planning support independent living?

Lesson outcome

Content guidance

This lesson was made for home learning during the pandemic.