1. Preparing Lifelong Learning Personal Finance:

2.  Personal Finance word search

3.  To explore the difference between gross and net income  To examine the cost of living

4.  Your wage every month is your Gross Income  From your wage you will need to make income tax contributions usually between 20% and 50%.  You will also need to pay National Insurance.  Why?  After these deductions you will have a Net Income.

5.  You earn £20,000  If income tax is 22% work out your net income.  Build a spider diagram with what type of monthly bills you may have.

6.  You buy a car for £5000 at 7% interest.  How much will you pay back in total?  How much will you pay per month?  What costs does running a car have?

7.  Make a table showing what living expenses you have and how much you think they are roughly each month.  How much of your net income do you have left?  Make a pie chart showing your monthly expenditure.

8.  These loans are becoming more and more popular. Why?  What do you think the interest on these loans are?  Read the article and summarise what has happened to each person  Discuss

9.  What does net income mean?  Name three things you would have to pay for every month  What do some people do if they can’t afford their monthly bills?  Why is this dangerous?