How can we manage money well?

In this lesson, we will explore what money is, the choices we have in relation to money, and how we can manage our money responsibly. We consider the idea of financial responsibility in relation to spending and saving, and what this means for us as individuals, members of families and communities, and in relation to wider society.

In this lesson, we will explore the different ways in which we can purchase and pay for goods and services. We consider the different payment methods available, including cash, online payment such as Paypal and Apple/Android Pay, debit and credit. We then look at practical steps to creating a budget and how this enables us to plan and manage money well.

In this lesson, we will consider what borrowing is and how it can be used to help us manage money well both within our personal lives and in wider society. We will explore the different kinds of borrowing available including loans, overdrafts and credit, and what each is used for. We will also learn about interest rates and the implications of short, medium and long term borrowing in relation to a range of situations.

In this lesson, we will explore different types of online banking, prepaid cards and other tools that can help us keep track of money. We then explore how we can keep safe online, in relation to digital citizenship, and how to be aware of different kinds of online money crimes. This includes fraud, such as phishing, pharming, money mules and other types of common scams.

In this lesson, we will explore what saving means and how different kinds of savings products help us manage our money well. We consider the pros and cons of different approaches to savings and investments with different levels of risk and reward.

In this lesson, we will explore citizens as consumers, including the rights and responsibilities we have and what consumer choice is. We will look at the rules and laws that apply to the buying and selling of goods and the role of trading standards. We will then explore whether the increased use of online shopping has led to companies and individuals taking greater advantage of consumers.