2. why we might lend and borrow money about some of the possible risks when lending and borrowing money

3. Lending and Borrowing… 3 How do you feel when you lend or borrow something? book toy DVD console money Have you ever lent something to a friend? Or borrowed something from them? Would you borrow or lend …

4. Thinking about borrowing money Write down two reasons why you might want to borrow something Write down three reasons why you might need to borrow money Who can we borrow money from? Is borrowing money a good idea? Give a reason for your answer. What is the ‘golden rule’ about borrowing?

5. Why borrow? because it’s something new you would like to try before you buy e.g. a new game to share for a short period of time e.g. a DVD or a book to tide you over in an emergency e.g. your pen breaks because you can’t afford to buy the item yourself

6. Why borrow money? because you’ve lost the money that you were going to use to buy something because the item costs more than you have because you want something now rather than saving up for it because the unexpected happens e.g. the car breaks down because you’ve spent more than you should have done and now need money to buy things you actually need.

7. Who can you borrow money from? family a friend a bank or building society a credit union

8. What do you do? What problems might there be when you lend or borrow things? Look at the cards and decide what you would do in this situation.

9. Making an agreement… 1.Agree how long the item is going to be lent or borrowed for 2.Agree on how it might be used and looked after 3. Agree what happens if it gets broken or isn’t returned If you borrow you must always give it back

10. Lending and Borrowing… discussion points “Lending something to a friend is a good thing to do.” “You need to take care of things when they are not yours.” “If you borrow you must always give it back.” “Borrowing something can make you worry if you are scared it will get lost or broken.” “If friends don’t give back the things lent to them you’re not bothered.”

11. “It’s alright to borrow money whenever you need it.” “There’s no need to worry about spending too much money because you can always borrow some.” “If you borrow money you might not be able to afford to pay it back.” “It’s ok not to pay back money you’ve borrowed.” Lending and Borrowing… discussion points cont.

12. that there may be circumstances when we might need more money than we already have about different reasons we might choose to borrow money and how it can make us feel that we may experience problems when borrowing and lending money