Taking control of your money
What is Taking control of your money?
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. Students will research ways to manage their money through banks, post offices and credit unions, gain understanding of the financial services available and how these help in day-to-day management of money and making payments. They will learn how to research, consider and compare their available options in terms of finance.
Students will look at the options when planning for future expenses, they will examine savings and compare savings to borrowing by looking at the cost of credit.
Students should arrive at the conclusion that while borrowing is a vital facility it can sometimes be avoided by making adjustments to budgets and saving instead.
Section 3 also includes lessons on dealing with debt, raising awareness of debt, reasons why people might encounter problems with debt and how to get on track. Because debt can be a sensitive topic, case studies and a range of supportive methodologies are included in the lesson activities.
