Bank: $2,000 You have $2,000 in the bank. You need to pay for: Rent Car Bills (food, electric etc.) Savings FOR ONE MONTH

Keep your bank in your margin Every time you decide on something to buy, subtract your money Bank: $2,000 - RENT $………. - CAR $………. - Clothes $………. Bank: $2,000 - RENT $………. - CAR $………. - Clothes $……….

TASK 1 – Find somewhere to live

OPTION A – 1 bedroom Contemporary inner city $122.50/week per person OPTION A – 1 bedroom Contemporary inner city $122.50/week per person

OPTION B – 3 bedroom Barn conversion $60/week per person OPTION B – 3 bedroom Barn conversion $60/week per person

OPTION C – 4 bedroom Suburban student $50/week per person OPTION C – 4 bedroom Suburban student $50/week per person

OPTION D – 2 bedroom Small Student $65/week per person OPTION D – 2 bedroom Small Student $65/week per person

OPTION A – Inner city flat – 1 bedroom $490 per month OPTION B – Barn conversion – 3 bedroom $240 per month OPTION C – Student house – 4 bedroom $200 per month OPTION D – Small student flat – 2 bedroom $260 per month

If you chose option A, you should have $1,510 left in the bank If you chose option B, you should have $1,760 left in the bank If you chose option C, you should have $1,800 left in the bank If you chose option D, you should have $1,740 left in the bank Bank: $1,510 Bank: $1,760 Bank: $1,800 Bank: $1,740

TASK 2 – Get a car!

OPTION A – Ford F150 $199/month OPTION A – Ford F150 $199/month

OPTION B – Nissan Juke More expensive to $239/month OPTION B – Nissan Juke More expensive to $239/month

OPTION C – Pivot bike Cheap and $130/month OPTION C – Pivot bike Cheap and $130/month

OPTION D – Fiat 500x Good city $225/month OPTION D – Fiat 500x Good city $225/month

OPTION A – Ford F150 – multi-purpose $199 per month OPTION B – Nissan Juke – More expensive to run – $239 per month OPTION C – Pivot bike – cheap & healthy $130 per month OPTION D – Fiat 500x – good city car $225 per month

If you chose house A and:If you chose house B and: Car ACar BBike CCar DCar ACar BBike CCar D You will now have: $1,311$1,271$1,380$1,285$1,561$1,521$1,630$1,535 If you chose house C and:If you chose house D and: Car ACar BBike CCar DCar ACar BBike CCar D You will now have: $1,601$1,561$1,670$1,575$1,541$1,501$1,610$1,515

TASK 3 – Now you need to take out $300 for bills

TASK 4 – Get saving!

Simple interest Compound interest $1000 saved per month Interest rate of 1% Interest paid monthly Fixed term of 3 years After 3 years how much has been saved? 1% interest on $1000 per month pays you $10 per month - $120 a year $360 saved after 3 years $12,000 saved per year Interest rate of 1% Interest paid annually Fixed term of 3 years After 3 years how much has been saved? 1% of $12,000 after 3 years of time $ saved after 3 years

The money you have left will be monthly E.g. you have $1,000 left over, you have $12,000 a year to save On the next slide is a selection of savings accounts. Work out which is best (and worst) for your money! The money you have left will be monthly E.g. you have $1,000 left over, you have $12,000 a year to save On the next slide is a selection of savings accounts. Work out which is best (and worst) for your money!