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Learning About Money in the Secondary Classroom What does personal finance look like in the classroom and why do we need to teach it? Aims for today O To understand what Financial Education involves; O Understand why and how Financial Education can be delivered within Mathematics; O Be introduced to some useful free resources and teaching ideas. What are financial capability and financial education? Being financially capable means you can O make ends meet O keep track of your finances O plan ahead O choose financial products O stay informed about financial matters Money Maker Deals – Which One’s For You? I have three deals on offer. You give me £100 and at the end of a year I give you… Deal One Deal Two Deal Three Your £100 gets you £110 at the end of a year Your £100 gets you £150 at the end of a year Your £100 gets you £200 at the end of a year Deal One Deal Two Deal Three Invests in a small local firm giving training and skills to local unemployed young people. Imports cocoa beans from developing countries and sells them to sweet manufacturers Invests in companies making armaments and selling them to countries in the developing world What is personal finance education? A planned programme of learning opportunities that develops the financial capability of young people What are we trying to achieve? Young people will know/be able to… Four core themes: 1. how to manage money 2. becoming a critical consumer 3. managing risk and emotions 4. how finance plays an important part in our lives Planning Framework Providing financial education means that you are helping young people to... O Build confidence in relation to their personal finances O Develop the financial skills necessary to live independently O Explore personal attitudes towards money and money management Curriculum contexts: 1. Personal, Social, Health and 2. 3. 4. 5. 6. Economic education Citizenship Mathematics Enterprise Work-related learning and careers My Money Week What is a Money Week? O Targeted at all young people O Focused week of learning activities O Flexible to meet individual school needs O Can be done at any time of the year O Enrichment - not a replacement for embedded curriculum learning Why Mathematics? National Curriculum aims for Mathematics All pupils will: O Become fluent in the fundamentals of mathematics O Reason mathematically O Solve problems by applying mathematics Why Mathematics? 1.Personal finance is an excellent context in which to teach mathematics and meet the national curriculum aims for mathematics. 2. Personal finance is in the mathematics curriculum Mathematics Curriculum The new Programmes of Study state that • “Mathematics is an interconnected subject in which pupils need to be able to move fluently between representations of mathematical ideas” • Pupils should apply their mathematical knowledge wherever relevant in other subjects and in financial contexts and be taught to: o Develop fluency o Reason mathematically o Solve problems What is expected of pupils? Further advice and support