Starter quiz
- I put £10/week into my savings. How many weeks will it take for me to save enough to pay for a £550 holiday?
- '55' ✓
- I put £80 a month into my savings. How many weeks will it take for me to save enough to pay for a £720 holiday?
- '39' ✓
- I put £55 in a savings account. At the end of the year I receive what I put in and an extra 2.4%. How much do I receive?
- '£56.32' ✓
- I put £55 in a savings account. At the end of the year I receive what I put in and an extra 4.3%. How much do I receive?
- '£57.37' ✓
- I put £120 in a savings account. At the end of the year I receive what I put in and an extra 5.4%. How much do I receive?
- '£126.48' ✓
- I put £2000 in a savings account. At the end of the year I receive what I put in and an extra 3.7%. How much do I receive?
- '£2074' ✓
Exit quiz
- Lucas has £200 in savings. He wants to buy a laptop costing around £900. Sam says Lucas needs at least £700. Why did Sam say at least?
- Sam thinks Lucas has underestimated the cost. ✓
- Sam thinks Lucas has overestimated the cost.
- Sam thinks Lucas has the exact cost and it will not change.
-
- Lucas decides to save for 30 driving lessons and assumes the cost is £35 per lesson. This means it will cost him £1050 to prepare for his test.
- True - he has correctly calculated the cost.
- True - the figures are exact and he has correctly calculated the cost.
- False - he is making an assumption so the final amount is not certain. ✓
- False - Lucas does not need any driving lessons to pass his driving test.
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- A Junior ______ (Junior ISA) is a long-term, tax-free savings account for children.
- 'Individual Savings Account' ✓
- A child can take control of their Junior ISA account when they turn:
- 15
- 16 ✓
- 17
- 18
-
- A child can withdraw money from their Junior ISA when they turn:
- 15
- 16
- 17
- 18 ✓
-
- A Junior stocks and shares ISA is where:
- you can pay money in and the interest earned is tax-free.
- the money you pay in is used to invest in the stock market. ✓
- the risk is very low.
- the risk can be low or high. ✓
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Worksheet
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Presentation
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Video
Lesson Details
Key learning points
- By saving or investing money, future needs could be met
- It is impossible to accurately predict all life events
- By considering the level of personal risk versus financial gain, planning can be done for the future
Common misconception
Investing money is a bad choice as it could lead to a loss.
Deciding how and where to invest money is a personal choice and may be better for some.
Keywords
Junior isa - A Junior Individual Savings Account (Junior ISA) is a long-term, tax-free savings account for children.
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