Finance - 02. Making the Most of Your Money
ACT Training
Created on July 29, 2024
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Transcript
- Borrowing money & credit.
- Saving money & interest rates
- Payday loans
- Finding the best deals.
- Financial Wellbeing.
"Do not save what is left after spending, but spend what is left after saving."
Warren Buffett- Businessman
Borrowing Money
Interactive Question
- You will be matching various types of lenders with their descriptions.
- You'll be discussing the pros and cons of different lenders.
- You'll also be discussing financial scenarios and choosing the most suitable type of lender.
Activity 1: Borrowers
This activity will explore different types of lenders, giving you the chance to understand their characteristics.
Time to reflect...
- What did you learn about the different types of lenders and their uses?
- How can this knowledge help you make informed decisions about borrowing money?
Financial Independence
EmergencyFund
Finding thebest deals
Achieving Personal Goals
Discuss the importance of:
Why Save Money?
- You will be going to different stations set up as different shops.
- You will be given play money to shop around and choose the best deals.
- Let's see who can find the best deals and make the most of their money!
This activity looks at shopping around for the best deals on products, using play money to make informed purchasing decisions.
Activity 2: Bargain Hunters
Time to reflect...
- What did you learn about comparing prices and making informed purchasing decisions?
- How can these skills help you manage your money better in everyday life?
What steps do you take to save money for something special?
Have you ever wanted to buy something but didn't have enough money?What did you do?
How do you decide what to spend your pocket money / earnings on?
Financial Issues
- You will be analysing scenarios where people are facing financial issues.
- You will come up with practical advice to help them manage their money better.
- Afterwards, you will be discussing your solutions.
Activity 3: Scenarios
This activity will allow you to step into the role of financial advisors.This will help you develop problem-solving skills and understand how to address common financial challenges.
Time to reflect...
- What did you learn about analysing financial issues and providing advice?
- How can these problem-solving skills help you manage your own money better
- What did you find surprising or unexpected about the financial challenges presented in the scenarios?
Debt advice
Citizens advice
Further Information & Support
MIND CYMRU
- Borrowing money & credit.
- Saving money & interest rates
- Payday loans
- Finding the best deals.
- Financial Wellbeing.