1. Sources of Financial Information

2. Learning Objectives
To understand that there is a wide range of financial information available
To appreciate the difference between advice and information
To recognise that some financial information and advice might be more impartial than others

3. Sources of financial information
When you are looking for information where do you
go?
Internet
Newspaper/magazines
TV programmes
TV adverts
Teachers
Parents
Other experts
Friends
Forums
Why do you like to use these particular sources of information?

4. Information or advice
Information = facts provided or learned about something or someone
Advice = guidance or recommendations concerning sensible future action, typically given by someone regarded as knowledgeable or authoritative

5. Information or advice
Sort the cards into two piles depending on whether you think they are about providing:
Information or
Advice
Then sort through each pile and identify the cards which would provide impartial information or advice
Impartial = unbiased or neutral

6. What do we need before we buy?
Information about the product or service – impartial if possible but often it is the manufacturer or company that provides this
Advice if we are not sure if a product of service is right for us, or what the best course of action might be for us
Remember sales staff are often paid more to sell particular products or will get commission on how much they sell

7. Where would you go?
There are lots of places we might go to when looking for financial information - many are the same sorts of sources as discussed earlier
In small groups think about the particular information source listed at the top of the sheet – write down if you would use it as a source and why? Then identify how trustworthy you think it is as a source.
Swap sources and add your thoughts to the previous groups

8. Trustworthy?
Why might some sources of financial information or advice be more reliable than others?
What are you looking for when seeking financial information and advice?

9. Financial information and advice
Research
What they do
Audience
Level of Impartiality
Usefulness
Relevancy for young people
The Money Advice Service
Citizens Advice
Which? Magazine
Unbiased.co.uk
Consumer Protection Association
Financial Ombudsman Service

10. Financial information and advice
Report back what you’ve found out to the rest of the class, aim for 5 key facts about the organisation.
Now as a group discuss which of these sources would be the best places to go for good information and advice about money?

11. Top tips!
With a partner suggest 3 tips for other young people when looking for information and advice around money and money management.