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.
In this lesson, students will learn about the different types of services and accounts offered by banks, credit unions and An Post.
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.
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.
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.
Some people are natural savers, but there are lots of people who never think to put money aside now for the future.
There are many savings accounts available and people often find it difficult to choose which one is right for their specific needs.
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.
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.
Although students will have no personal experience of borrowing from a financial institution they should be able to explore the reasons for borrowing.
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.
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.
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.
Students design a board game to help other young people learn about savings and borrowings.
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
If people are having problems with debt the most important thing to do is take action and not ignore the problem.
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.
Here you will find a list of all the Worksheets for Section 3