money taken from a bank account and used for payment

money that can be used for payment but it is borrowed from a lender so interest might be charged

a plan for how to spend money and track income and expenditure

the process and plan of sticking to a budget

How can we pay for things?

Citizenship

What is the best way to look after money?

What are the implications of borrowing money?

How can we protect ourselves from fraud?

Where can we save money?

What are our rights as consumers?

Pupils explore how to look after their money considering the implications of borrowing, how they can keep track of their money, what saving options are available to them and what their rights are as a consumer.

How can we manage money well?

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

Depiction or discussion of sensitive content

money that can be used for payment but it is borrowed from a lender

Match the words to the correct definition. 

Budgeting means regularly checking and adjusting spending to avoid {{}}, cover bills and prepare for future costs.

Successful budgeting involves spending within your means and using different {{}} methods wisely.

pay the minimum payment each month to avoid interest

only pay a small amount once a year to avoid interest

make a late payment to reduce your interest charges

pay off the full balance by the end of the month 

What should you do to avoid paying interest on your credit card?

Learning about {{}} money management prepares individuals for future financial stability.

helps teach money management to young people

Match the type of bank account to its purpose. 

choosing a bank that will make you the most money

exploring ways to use your money to support causes you believe in

Which of the following are ways to bank ethically?

Which type of bank account is typically used for everyday spending?

An ethical person focuses on doing what is {{}} right, fair and good for people, society and the environment.

Which of the following would **not** be considered an ethical thing to invest in?

This lesson was made for home learning during the pandemic.

How can we pay for things?

Lesson outcome

Content guidance

This lesson was made for home learning during the pandemic.