Ideas for school lessons on Money??

Hunter81

Hello, I work in a secondary state school in Bristol and over the Christmas holidays, i am tasked with drawing up some lesson plans for post 16 tutorials (hour long lessons for students of 16-17).

Does anyone have any ideas as to important matters, with regards to money etc. that students should be learning in schools?

Many thanks,


Guy

geordie_joe

How to find the best bank account
How to find the best credit card/how much credit cards really cost you
What happens when you get into debt
How to find the best bargain and not just go by the "headline"
How to spot hidden charges.
How to budget
How to find the best deals on Telephone, gas, electricity etc. i.e. how to work out how much a particular tarriff will really cost you.
How much a house will really cost you when you buy on a mortgage.
How to work out wages, tax, NI etc.
How to choose a pension and why you should.

You don't have to do them in that order

whitewing

I would say that budget is vital. And what to do if you go overbudget (which you can do in varying levels, from spending £5 more than you meant to becoming severely in debt)

Head in the sand/lightbulb moment

Storecards as I assume most will get offered store cards before credit cards?

NickiM

Budgeting sounds like a really good idea - I would have really appreciated that, especially now I am at university.

belfastgirl23

Depending on area and type of school it might also be worth covering car running costs since it's a priority for some young people who consistently underestimate running costs....

It's a great idea tho and very important for them!

MoaningMyrtle

It would be useful to get some examples of the actual cost of borrowing, if you pay the minimum amount on credit cards or store cards. For (non-accurate) example, the £50.00 top that cost £120.00 in real terms.

Try the 'Teen Cash Class Guide' here on MSE too. Plus the Demotivator.

whitewing

I've come back to say FOOD spending (esp at supermarkets where it's easy to add extra stuff like DVDs). Okay at this age, students are likely to have meals cooked by parents, but an awareness of a realistic but not extravagent monthly spend will stay with them. If you look at SOAs on the DFW forum, food is usually one of the most major items that you can make a huge impact on. Also cover eating out at cafes, meals out, taking packed lunch

nopot2pin

belfastgirl23 wrote: »

Depending on area and type of school it might also be worth covering car running costs since it's a priority for some young people who consistently underestimate running costs....

It's a great idea tho and very important for them!

Thats what I was gonna say to...

There was a programme on a couple of months ago..... with Martin himself.
He went into a class of teenagers (think they were about 16). They were split into 3 groups... 6 in each group.
The groups were then tasked to find out the best deals for houshold bills...gas/electric ect. They were also tasked to find the best deal of car insurace.
It was a reall good programme.

There are quite a few videos of Martin on Youtube.... Just do a search for Martin Lewis at Youtube.com.... although I cant find the one I mentioned ...sorry

tru

http://www.moneysavingexpert.com/attachment/teen_cash_guide.pdf

whitewing

May be worth getting them to begin to think about some big 'one-off' costs, such as a wedding, having a baby/planning a family (maybe with the implication of taking leave/deciding to go back to a job or being a Stay at Home mum). How would they decide what is a good budget? Who will pay for it? If parents are paying for it, will they be able to have the wedding they want?

You could talk about 'status' ie why might you want a fancy wedding? What is really important?

How do the 'other half' really live? What is the impact of celebrity magazines on the way these young people view spending?

Martin did a teen guide which is on the main site somewhere. Worth looking at that. Not sure if the link posted above is that or not.

isme_2

budgeting is a must..
what about loans? if some of them are off to uni or something, if someone had showed me what it meant and how to read the small print better and how much i would be paying back in total then that would really have helped me not to get into so much trouble..
how to find the best deals on things like mobile phone contracts and stuff.
income and expenditure sheets!