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Year 6

Knowledge and understanding

Students can:

  • explain how financial transactions can include using more than notes and coins
  • describe how an individual can influence their income
  • explore the value of unpaid work to the community
  • recognise that families use household income to meet regular financial commitments and immediate and future expenses
  • analyse the value of a range of goods and services in relation to an identified need
  • identify and discuss some rights and responsibilities of consumers and business
  • explain how money can be borrowed to meet needs and wants and that there may be a cost involved
  • recognise that the currencies of different countries have different values relative to the Australian dollar.

Competence

Students can:

  • use a range of methods and tools to keep financial records in ‘real-life’ contexts
  • create simple budgets for a range of purposes and explain the benefits of saving for future needs and wants
  • accurately complete and explain the purpose of financial forms, including for online transactions
  • evaluate the value of a range of goods and services in a variety of ‘real-life’ situations
  • order and justify reasons for spending preferences
  • discuss various payment options for purchasing goods and services such as: cash, debit card, credit card, direct debit and PayPal
  • interpret information from a variety of invoice accounts including information presented graphically such as in electricity accounts
  • identify key features used in advertising, marketing and social media to influence consumer decision-making.

Responsibility and enterprise

Students can:

  • identify and describe the impact that the consumer decisions of individuals may have on themselves and their families, the broader community and/or the environment
  • examine and discuss the external factors that influence consumer choices
  • explain there are ethical considerations to some consumer and financial decisions
  • apply consumer and financial knowledge and skills in relevant class and/or school activities such as student investigations, charity fundraising, product design and development, business ventures and special events
  • exercise a range of enterprising behaviours through participation in relevant class and/or school activities
  • practise safe, ethical and responsible behaviour in online and digital consumer and financial contexts
  • recognise that satisfaction derived from spending money varies according to the nature of the purchase, the context in which it is bought and an individual’s personal circumstances and values
  • recognise that matching household expenditure against income is important
  • 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.

 

Page last updated October 2011    


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