explain the role of work in society and distinguish between paid and unpaid work
explain how saving money in a financial institution can earn interest
explain why similar goods and services may vary in price
identify, explain and prioritise different needs and wants
recognise that different countries use different currencies.
Competence
Students can:
use money to buy basic goods and services in ‘real-life’ contexts
create simple budgets for specific purposes
accurately complete simple financial forms, including for online transactions
classify and compare goods and services
order and discuss reasons for spending preferences
discuss some options for paying for goods and services such as: cash, debit card, credit card and direct debit
identify key features of a range of advertisements.
Responsibility and enterprise
Students can:
identify and describe the impact that the consumer and financial decisions of individuals may have on themselves and their families, the broader community and/or the environment
identify and explain how some influences, such as advertising and peer pressure, can affect what you buy
apply consumer and financial knowledge and skills in relevant class and/or school activities such as student investigations, charity fundraising, business ventures and special events
exercise a range of enterprising behaviours through participation in relevant class and/or school activities
describe safe, ethical and responsible behaviour in online and digital consumer and financial contexts
explain the role played by the voluntary sector in the community to help those in financial need
demonstrate awareness that family, community and socio-cultural values and customs can influence consumer behaviour and financial decision-making.
