How can we pay for things?
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Lesson details
Key learning points
- In this lesson, we will explore the different ways in which we can purchase and pay for goods and services. We consider the different payment methods available, including cash, online payment such as Paypal and Apple/Android Pay, debit and credit. We then look at practical steps to creating a budget and how this enables us to plan and manage money well.
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This content is made available by Oak National Academy Limited and its partners and licensed under Oak’s terms & conditions (Collection 1), except where otherwise stated.
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5 Questions
Q1.
What was the first version of currency used in China?
Coins
Fruit
Sea Shells
Q2.
What phrase on a bank note refers to the "Gold Standard"?
“I promise to gift the bearer on demand the sum of…”
“I promise to never pay the bearer on demand the sum of…”
“I promise to pay the bearer on demand the amount of…”
Q3.
What is a Jam-Jar account?
A jam jar at home to store your money in
A place where you can choose from different jars
Q4.
What is an investment?
When you pay for something to gain ownership of it.
Where you lend money to other people.
Q5.
What is financial responsibility?
Choosing a good bank account.
Giving your money to other people to help them.
Saving all your money.
5 Questions
Q1.
When was the first credit card invented?
1940
1960
1970
Q2.
Which type of payment takes money directly from your bank account?
Cash
Credit
Q3.
What is affordability?
Money which is owed.
Money which is paid out for goods or services.
Q4.
What colour is the suitcase which holds the government budget?
Blue
Green
Orange
Q5.
Who is in charge of the treasury?
Pirates.
The education secretary.
The prime minister.