Money - Lesson 1 LO: To be able to understand how dealing with money changes as you get older.

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Presentation transcript:

Money - Lesson 1 LO: To be able to understand how dealing with money changes as you get older

Match up the definitions... Assets National Insurance Standing Order Dole Credit Income Tax Overdraft Interest Deposit Gross These are things that you own which are worth money Money that is made available to you Initial payment which secure the purchase of something Way of paying bills from your bank account automatically Nickname for the benefit called ‘Jobseekers allowance’ Amount of money before deductions Tax you pay on all money earned Money you earn for putting your money in the bank, building society etc. Government deduction from your wages. It is used to pay for benefits that you might need to claim, like Incapacity Benefit. When a bank allows you to draw out more money than you have in your account Way to make regular automatic payments from a bank account Value Added Tax: a tax paid on goods and services. Set as 20% as of January 1 st 2011 VATDirect Debit

Spend your £20 (be honest!) Give to charity Train/Bus Ticket Chocolate Toiletries Fast Food Cinema Ticket Mobile top up/contract Clothes Itunes Can of coke

What money do you receive or earn? What do you do with your money? How might this change as you get older? Think of yourself in 20 years time. What do you think the main things are that you will spend your money on? How has this changed?

How does this change with time? Using the sugar paper, plot how your dealings with money changes as you get older. Think about when you start earning and where that money goes Getting married Having a family Retirement

When should you start taking responsibility for your money? Child Teenager Adult Pensioner

Money - Lesson 2 LO: To understand the consequences of poor money management

Famous Money Quotes Look at the money quotes... Do you agree with them? Look at the money quotes... Do you agree with them?

Letters to Jade… What do you notice about the letters? Create a role play based on the letters. Think about what happens to Jade financially over time. Think about the future - what options does Jade have?

Advise for Jade In pairs come up with 2 pieces of advice for Jade for her future financial dealings

Money - Lesson 3 LO: To know what the estimated cost of living is.

The future What are you not looking forward to in the future financially speaking?

One Day... What are you looking forward to doing with the money you earn? You are now going to create a ‘One Day’ poster which lists the items you want and the estimated costs for these items.

One Day... Were your estimations correct? Swap your work with your partner and see if they agree with your estimations.

Estimated costs... House in Hedge End = The majority of sales in Hedge End during the last year were detached properties, selling for an average price of £330, Week Holiday all inclusive to Spain = Average £750 Car = Average cost of a new car in 2014 was 27,000

Quiz Create a mini quiz to test a friend or partner on their knowledge of the money unit.