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Week 1 u23

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Unit 23

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Week 1 u23

  1. 1. Unit 23 MANAGING YOUR OWN MONEY Week 1 Session 1
  2. 2. LEARNING AIM
  3. 3. OBJECTIVES OF THE LESSON All students will be able to: 1)Identify sources of income and expenditure 2)Explore how to complete a monthly budget plan 3)Demonstrate their understanding of mathematical calculations Many students will be able to: • Discuss the different types of income they have. Some students will be able to: • Evaluate their own skills in preparing a monthly budget
  4. 4. STARTER ACTIVITY • Identify the different currencies from around the world.
  5. 5. WHY LEARN ABOUT MANAGING MONEY? • http://www.bbc.co.uk/skillswise/topic/money
  6. 6. INCOME AND EXPENDITURE • Discussion time Complete the income and expenditure handout
  7. 7. HAVE YOU MET YOUR OBJECTIVES YET?
  8. 8. BOARD BLAST • Why do we need to budget
  9. 9. ACTIVE LEARNING • Use the scenario given to complete a budget planner
  10. 10. TASK •Make a budget planner showing your own income and expenditure
  11. 11. KNIT ME A SCARF Throughout this year we will be creating a learning scarf. We will each have a turn at knitting a stitch which signifies what we have learnt in a lesson. Lets see how long this scarf will get and lets see which group has the longest by the end of the year
  12. 12. HAVE YOU MET YOUR OBJECTIVES YET?
  13. 13. REFLECT • Do you know the price of: • A pint of milk • A loaf of bread
  14. 14. HOMEWORK • Research task- • Find out how much is the national minimum wage • What is a living wage?
  15. 15. MANAGING YOUR OWN MONEY Week 1 Session 2
  16. 16. OBJECTIVES OF THE LESSON All students will be able to: • Outline ways to save money • Describe a range of money saving practices. • Apply mathematical understanding to work out calculations Many students will be able to: Explain how to ensure expenditure does not exceed income Some students will be able to: • Define the benefits of saving money
  17. 17. STARTER ACTIVITY • Matching pounds and pence
  18. 18. RECAP • On your white boards…… • Name a source of income and • A source of expenditure • Feedback on homework
  19. 19. GRAFFITI BOARD • Name ways of saving money • Move sheets after 1 minute
  20. 20. LOOK AFTER THE PENNIES AND THE POUNDS WILL LOOK AFTER THEMSELVES • http://www.moneysavi ngexpert.com/ • http://www.gocompar e.com/ps.aspx?Media =GG003&PST=1&gcli d=CN3G- 7uxlbMCFSXHtAodD 1YA3w Lets look at these websites which help us to save money, Why are these effective?
  21. 21. WAYS OF SAVING MONEY 1. Spending less 2. Finding special offers, bargains and sales 3. Setting a spending budget 4. Saving some money each week 5. Using cash only
  22. 22. WAYS OF SAVING MONEY 1. Putting spending limit in your credit card 2. Walk/cycle to college 3. Buy a student rail card 4. Shopping around the find the cheapest deal 5. Get details information of the offers to see long term hidden affects before you make a decision
  23. 23. WAYS OF SAVING MONEY 1. Get financial advice 2. Research more income avenues 3. Finding out about bank, building society, post office’s young person / student saving accounts
  24. 24. POSTER • Complete a poster highlighting ways to save money • To ensure expenditure does not exceed income
  25. 25. HAVE YOU MET YOUR OBJECTIVES YET?
  26. 26. Welcome to the tearoom The class will split into two. Group 1 - Will sit down and order some food and drinks. Then individually pay for their items Group 2 – Will take the orders prepare the food and then take the payment from a single person THEN WE WILL SWAP Demonstrate two methods of paying when you settle your bill Let’s practice your maths skills
  27. 27. What did you learn from the tearoom task? What did you find hard? What did you find easy? Why was this task important?
  28. 28. REVIEW-WHY IS IT IMPORTANT TO SAVE MONEY? What could you save money for? When would you need savings or back up money? Why is it sensible to save money? Answer these questions individually on a piece of paper
  29. 29. MANAGING YOUR OWN MONEY Week 1 Session 3
  30. 30. OBJECTIVES OF THE LESSON All students will be able to: • Identify different bank and building societies • Describe the facilities of a current account Many students will be able to: Explain the benefits of having a current account Some students will be able to: • Give detailed information about banking facilities
  31. 31. TIME TO THINK……. • How many words from the letters in • NATIONWIDE • Timer- http://www.classtools.net/education- games-php/timer
  32. 32. RECAP • Money wordsearch
  33. 33. FAMILY SUPPORT WORKER You are a family support worker for the local children’s centre. You will be working with your colleague to support parents to find suitable financial organisations. You will present these to the parents of the children's centre.
  34. 34. PAIRED TASK • Identify a range of financial institutions • What benefits does a current account offer • What other accounts are offered by banks and building societies • http://www.youtube.com/watch?v=n-Y6V5sqf0U
  35. 35. PRESENTATION •Present your findings to the parents of the centre •Feedback and reflect
  36. 36. REVIEW OF LEARNING On your post it write down three things you now know that you didn’t prior to this session
  37. 37. HAVE YOU MET YOUR OBJECTIVES YET?
  38. 38. HOMEWORK • Use Pinterest to find images relating to Managing Money.

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