1. Miss Allen- Unit 3 personal and Business finance.
Year 12 business
Miss Allen- Unit 3 personal and Business finance.

2. Aims of today Recap over Personal Finance
Sixth form assessments will take place next week. Timetable to be confirmed for all subjects.

3. Importance of managing personal finance
Different ways to pay
Different types of bank accounts.
Managing personal finance
Different types of savings and investments
Functions and role of money.
Unit of account, means of exchange, store of value and legal tender.
Also relate to life stages and the financial needs/implications.
Methods of payment e.g. cash, debit card, credit card, cheque, electronic transfer, direct debit, standing order, prepaid card, contactless card, charge card, store card, mobile banking, BACS or CHAPS.
Must know advantages and disadvantages of each.
Standard
Packaged (premium)
Basic
Student.
Overdraft
Personal loan
Hire purchase
Mortgage
Credit card
Payday loan
Individual Savings Acccounts (ISAs)
Desposit and Savings Accounts.
Premium Bonds
Bonds and Gilts
Shares
Pensions

4. Savings vs Investments Different types of insurance
Features of finance institutions
Communicating with Customers
You need to be able to state the risks and rewards of both savings and investments.
Types of insurance e.g. Health, Pet, Travel, Car, Home and Contents, Life assurance and insurance.
Must know advantages and disadvantages of each.
Bank of England
Banks
Building Societies
Credit Unions
National Savings and Investments (NS&I)
Insurance Companies
Pension Companies
Pawnbrokers
Payday Loans
Branch
Online Banking
Telephone Banking
Mobile Banking
Postal Banking

5. Consumer Protection
Information, guidance and advice.
Financial Conduction Authority (FCA)
Citizens Advice
Financial Ombudsmen Service (FOS)
Independent financial advisor (IFA)
Financial Services Compensation Scheme (FSCS)
Price comparison websites
Office of Fair Trading (OFT)
Money advice service
Legislation: consumer credit
Debt counsellors
Individual Voluntary Arrangements (IVAs) Bankruptcy.