Section 3

Introduction

After exploring Sections 1 and 2, students will have a strong understanding of their relationship with money. Section 3 focuses on taking charge and understanding some financial products.

L1: My ideal bank

In this lesson, students will learn about the different types of services and accounts offered by banks, credit unions and An Post.

L2: Opening a bank account

Most people will have a bank account at some stage in their lives. Sometimes parents open accounts for their children when they are very young.

L3: Ways to pay

In our everyday lives we use a variety of methods to pay for the things we buy without giving it much thought. When buying a litre of milk you might pay with cash.

L4: Making a bank statement

Being able to understand what is included in your bank statement (either paper or online) is a really important skill as it helps you to keep track of and manage your money.

L5: Every little helps!

Some people are natural savers, but there are lots of people who never think to put money aside now for the future.

L6: Savings accounts

There are many savings accounts available and people often find it difficult to choose which one is right for their specific needs.

L7: Savings – dos and don’ts

There are plenty of reasons to start saving and no doubt you know them all, but when it comes to actually putting the money aside, some people end up spending it.

Project: Savings – every little helps!

Students to work in groups to design and publicise a tool (e.g. a poster, blog, leaflet etc.) to encourage all young people to save.

L8: Introduction to borrowing

Although students will have no personal experience of borrowing from a financial institution they should be able to explore the reasons for borrowing.

L9: Borrowing options

Most people borrow at some stage in their lives – they use their credit card to buy a book online, they borrow for holidays, for their children’s education, to buy a house etc.

L10: Features of borrowing

As we’ve seen, most people will borrow at some stage of their lives. It is worth taking time to research and to shop around for the best deal when looking for a loan.

L11: Borrowing versus savings

When people have the choice to save or to borrow for a particular good or service, it can be difficult to make up their minds about the best course of action to take.

Project: Board game

Students design a board game to help other young people learn about savings and borrowings.

L12: Introduction to dealing with debt

In Lesson Nine and Lesson Ten we looked at different types of loans and getting a loan.  We talked about questions to ask before borrowing to make sure you can afford a loan.

L13: Spot the signs of debt

Debt is a sensitive topic, while it may not directly impact on you, you may need to support a friend/family member who is struggling with debt.  I

L14: Tackling debt

If people are having problems with debt the most important thing to do is take action and not ignore the problem.

Project: Taking control of debt

Students create a 30-second radio advertisement about taking control of debt – they use a poem, song, rap, rhyme and/or acronym to get their message across to listeners.

Student resources

Here you will find a list of all the Worksheets for Section 3