Unit: How can we manage money well?


6 lessons

How can we pay for things?

This lesson explores 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.

What are the implications of borrowing money?

In this lesson we consider what borrowing is and how it can be used to help us manage money well both within our personal lives and in wider society. We explore the different kinds of borrowing available including loans, overdrafts and credit, and what each is used for. We also learn about interest rates and the implications of short, medium and long term borrowing in relation to a range of situations.

How can we keep track of our money?

This lesson explores different types of online banking, prepaid cards and other tools that can help us keep track of money. We then explore how we can keep safe online, in relation to digital citizenship, and how to be aware of different kinds of online money crimes. This includes fraud, such as phishing, pharming, money mules and other types of common scams.

What are our rights as consumers?

This lesson explores citizens as consumers, including the rights and responsibilities we have and what consumer choice is. We look at the rules and laws that apply to the buying and selling of goods and the role of trading standards. We then explore whether the increased use of online shopping has led to companies and individuals taking greater advantage of consumers.