Their money
UNDERSTAND UN FINANCIAL PAPERWORK
KN KNOW the meaning of important fifin financial information on official pa paperwork such as bank statements, pa payslips and utility bills, and interpret it to plan and set a personal budget.
TAKE TA CHARGE OF THEIR OWN MONEY
AND AN be able to alter their budget g if the their circumstances change.
UNDERSTAND UN SAVING & BORROWING BO
BE able to identify sit situations where things lik like credit cards and loans are suitable options.
RESIST RE PRESSURE
UNDERSTAND UN the ways oth others may try to influence pe people’s saving and spending ing, and demonstrate how to o res resist unwanted pressure to save or spend money unwisely.
APPRECIATE AP VALUE FOR FO MONEY
UNDERSTAND UN there are different diff ways to calculate value va for money, and that price ice is only o one factor.
COMPARE CO COSTS
BE able to compare the overall cost and benefits of a range of goods and services by shopping around and using mental calculations, IT tools and comparison websites.
READ THE SMALL PRINT
KNOW about some of the financial products available, such as insurance, warranties and bank accounts, understand the importance of small print and how to work out which financial products are best, and know that sometimes advice may be necessary.
INSURANCE PROTECTION
KNOW insurance gives financial protection from different types of risk, and appreciate the financial and emotional consequences of not being insured if things go wrong.
BE WISE ON FRAUD
BE able to recognise and avoid potentially fraudulent situations when dealing with money, including how to p protect PINs and passwords and keep c card details and online
iden identity safe.
INVESTMENT IN RISKS
KNOW saving and investing money can increase its value and there are risks associated with these rewards.
BALANCE RISK & REWARDS
A APPRECIATE the relationsh ship between risk and rew reward in different financial conte contexts including saving, investing, borrowing and gambling.
MONEY WORRIES
UNDERSTAND emotions m may drive financial deci decisions and that those de decisions may lead to stress
a and anxiety.
FOCUS ON THE FUTURE
RE ALISE that saving or investing money in the short-term can provide for future needs and wants and act as protection a against unforeseen events li like unemployment.
CHO CHOICES AFFECT FINANCES
BE aware aw of the potential link between qualifications and earnings, and understand that career and personal life choices such as living independently, continuing in education and being employed or self-employed will have financial implications.
TAX BENEFITS
BE aware of taxation and that it’s used to benefit the wider community.