Investing in my future
Lesson details
Learning outcome
I can understand how my financial choices may provide for my future needs.
Key learning points
- By saving or investing money, future needs could be met
- It is impossible to accurately predict all life events
- By considering the level of personal risk versus financial gain, planning can be done for the future
Keywords
Junior ISA - A Junior Individual Savings Account (Junior ISA) is a long-term, tax-free savings account for children.
Common misconception
Investing money is a bad choice as it could lead to a loss.
Deciding how and where to invest money is a personal choice and may be better for some.
Teacher tip
Many banks have online banking tools to project the final value of different ISAs. Pupils could investigate these to see how different choices (initial deposit, monthly payments) affect the final value.
Content guidance
Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
except where otherwise stated. See Oak's terms & conditions (Collection 2).Lesson video
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Prior knowledge starter quiz
6 Questions
Q1.I put £10/week into my savings. How many weeks will it take for me to save enough to pay for a £550 holiday?
Q2.I put £80 a month into my savings. How many weeks will it take for me to save enough to pay for a £720 holiday?
Q3.I put £55 in a savings account. At the end of the year I receive what I put in and an extra 2.4%. How much do I receive?
Q4.I put £55 in a savings account. At the end of the year I receive what I put in and an extra 4.3%. How much do I receive?
Q5.I put £120 in a savings account. At the end of the year I receive what I put in and an extra 5.4%. How much do I receive?
Q6.I put £2000 in a savings account. At the end of the year I receive what I put in and an extra 3.7%. How much do I receive?
Assessment exit quiz
6 Questions
Q1.Lucas has £200 in savings. He wants to buy a laptop costing around £900. Sam says Lucas needs at least £700. Why did Sam say at least?
Q2.Lucas decides to save for 30 driving lessons and assumes the cost is £35 per lesson. This means it will cost him £1050 to prepare for his test.
Q3.A Junior (Junior ISA) is a long-term, tax-free savings account for children.
Q4.A child can take control of their Junior ISA account when they turn:
Q5.A child can withdraw money from their Junior ISA when they turn:
Q6.A Junior stocks and shares ISA is where:
To help you plan your 9 financial education lesson on: Investing in my future, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your 9 financial education lesson on: Investing in my future, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
We use learning cycles to break down learning into key concepts or ideas linked to the learning outcome. Each learning cycle features explanations with checks for understanding and practice tasks with feedback. All of this is found in our slide decks, ready for you to download and edit. The practice tasks are also available as printable worksheets and some lessons have additional materials with extra material you might need for teaching the lesson.
The assessment exit quiz will test your pupils' understanding of the key learning points.
Our video is a tool for planning, showing how other teachers might teach the lesson, offering helpful tips, modelled explanations and inspiration for your own delivery in the classroom. Plus, you can set it as homework or revision for pupils and keep their learning on track by sharing an online pupil version of this lesson.
Explore more key stage 3 financial education lessons from the Smart spending: budgets and investments unit, dive into the full secondary financial education curriculum, or learn more about lesson planning.