- Teachers
- Teachers overview
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4-7 Counting on Money
7-11 The Cost of Money -
12-14 Savings & Lifeskills 1
14-16 Savings & Lifeskills 2 - 16-18+ Finance World
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Fact dossiers
The 'Finance World dossiers' contain a wealth of straightforward information about a range of different aspects of financial capability, in age-appropriate language. They are designed to help young people gain a basic understanding of the world of adult finance. A summary of their content is described below:
BUDGETING
Financial Planning:
Why budgeting is important and how to do it; checking and balancing your budget.
Staying Out of Debt:
Recognising debt and dealing with it; budgeting for debt by reducing spending or increasing income; tips and getting advice.
Government Budgets and the Economy: How national and local government is funded; types of tax (e.g.
Income Tax, Council Tax, VAT); how the economy works.
Case Study - Young school leaver: Some of the different income and expenditure considerations of this
individual including different career options to increase income, costs
of buying and maintaining a car and mobile phone contracts vs. prepaid.
Case Study - Single unemployed parent: Some of the different income and expenditure considerations of
this individual including maternity pay, child benefits and child-related expenses.
Case Study - University student: Some of the different income and expenditure considerations
of this individual including applying for a student loan, student accomodation and discounts.
CAREERS
Types of Employment: Full- and part-time work; self-employment; apprenticeships; voluntary/unpaid;
unemployment.
CVs: What to include; how they're used by employers; covering letters.
Example
CVs are provided
as samples on how to write one.
Wages and Salaries: What affects your earning; wages versus salaries; minimum wage;
pay deductions (Income Tax, National Insurance Contributions, company pension).
CURRENCY
Forms of Money and Payment: Different ways to pay (e.g. cheque, credit/debit cards, direct
debit, travel cards, vouchers).
Foreign Currency and Exchange: World currencies; exchange rates; ways to exchange money.
DOCUMENTS AND INCOME
Record Keeping: Why record keeping is important; filing or destroying documents;
examples of financial documents (e.g. account statements, bills, insurance
documents).
Bills: Types of bills (e.g. credit card, utility, telephone); receiving
and paying them.
Sources of Money: Different forms of income (e.g. wages/salary, borrowing, selling,
interest, benefits, pensions, student finance).
RISK
Fraud and Scams: Fraud/scams relating to identity, the internet, credit/debit cards,
cheques, cashpoints, mobile phones, and how to protect yourself.
Manageable Debt: Manageable versus unmanageable debt; choosing lenders; interest
rates; credit rating; getting advice.
Insurance: Types of insurance (e.g. health, home, motor, travel) and tips.
Gambling: Types of gambling; addiction and advice.
SAVING AND INVESTING
Starting a Business: Knowledge/skills needed; researching the product; creating a business
plan and forecast; business finances.
Ways to Save and Invest: Different types of financial institutions (e.g. building societies,
banks, credit unions); types of savings account and interest; types of investment
and tips.
Account Services: Different services available (e.g. cheques, standing orders, direct
debit, interest, overdrafts); types of account and how to set one up.