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Lesson 1. Money – where does it come from, where does it go?

Introduction 

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.

Resources

Time: Single class period

Materials:

  • Flipchart sheets
  • Markers

Activity One: Money sources

Step-by-step instructions

1. Explain to the class that they will think about how young people get access to money.

2. Divide the class into small groups.

3. Invite each group to discuss where the money in young people’s pockets might come from.

Note: The focus should be on the source of money, rather than the amount young people are given or earn.

Note: Depending on your class, possible sources of income may include some of the following: parents, extended family/relations, part‑time job, gifts, pocket money, babysitting, cutting grass. etc.

4. Distribute a flipchart sheet and markers to each group.

5. Invite the students to graphically represent the sources of money for young people, for example pie chart or bar chart etc.

6. Ask each group to present their completed flipchart sheet to the class.

Activity two: Top three spends

1. Tell the class to think about how they spent money the previous week.

Note: If students say that they did not spend any money the previous week, ask them to think about the money that others, for example their parents, spent on them.

2. Invite each student to write down their three biggest weekly expenses in order of the amount of money spent (where number one costs the most amount of money and number three costs the least amount of money).

Note: Depending on your class you may wish to provide one or more of the following prompts: food and drink, mobile phone credit, clothes, entertainment, etc.

3. Invite students to calculate the total spent on their top three items.  Encourage them to carry out this step individually. Sharing the amount they spent is not necessary.

Note: Students will be asked to revisit their top three spends after they have kept and analysed a weekly spending diary, so remind them to record this information for Lesson 4: Activity 1.

4. Facilitate a whole class discussion using the following questions as prompts:

  • What do young people spend the most money on?
  • What do they spend the least money on?
  • Do you think young people manage to save money on a weekly basis?
  • What stops young people from saving money?  What helps them to save money?
  • How can young people make sure that they have enough money to buy the things they need and not spend more than they have?

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