In Section 2, students will strengthen their understanding of their relationship with money, including examining where their money comes from, their spending habits and considering personal needs versus wants and budgeting accordingly.
In this lesson students are encouraged to identify the sources of money for young people, whether it comes from income earned in casual work (e.g. babysitting), pocket-money or money received as gifts from relatives. Students will also start to think about what they spend their money on.
Often it is the small day-to-day things that really add up and this is where savings can be made. In this lesson, students will read through a case study to see exactly where the character’s money is going and identify where they can make savings
In this lesson, students will use their completed Weekly Spending Diaries to calculate monthly and annual spending relative to categories such as food and drink, clothes, entertainment etc.
During this lesson, students will consider one money goal in detail. They will consider when they hope to achieve this goal and the steps they are prepared to take to make it happen. Most money goals are realised when people plan and save.
Ideally people are ready to deal with the impact and consequences of life events and circumstances, but this is not always the case. In this lesson, students will consider the financial impacts and the consequences of different life events.
Different people have different needs and wants when it comes to their spending. In this lesson, we will look at what this means for the present and future financial well-being of a range of people.
No matter who you are, life will throw both expected and unexpected events and circumstances your way. In this lesson, students will be asked to list the ‘big’ life events that they may face in the future and review their needs and wants in light of these events.
Some people are savers of money and others are more likely to be spenders. In this lesson, students will take a quiz to identify whether they have saver or spender tendencies. Becoming more familiar with their own attitudes and habits will help them to develop a healthy relationship with money.
Planning for the future helps us to get what we want or need. Managing money can be tricky; it’s easy to lose track of spending and end up not being able to make ends meet. Learning how to budget is a simple way of managing your money.
In this lesson students design their own weekly budget template, refer back to their spending diary and discover whether or not they are living within their means. Their homework task involves using case studies to populate a budget template.
Budgeting and planning can help you save money day-to-day but can also help you plan for a future event. Think of what you may need money for and if the amount you can save would be enough for it.
Students consider how they can get young people to take the time to budget, whether it is for a specific goal (school trip, summer holiday, debs) or just to keep a better track of their spending.
Here you will find a list of all the Worksheets for Section 2