• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

If You Were a Teacher How Would You Teach Personal Finance and What Lessons Would You Want Your Pupils to Learn

Extracts from this document...

Introduction

If You Were a Teacher How Would You Teach Personal Finance and What Lessons Would You Want Your Pupils to Learn Personal Finance [1] is a term which is used to describe when people manage all of their financial decisions whether they are transactions, borrowings and or transactions. This is an important lesson for pupils because they are at the stage of their personal life cycles when they have a lot of demands such as new phones and games. This makes personal finance ever so important as pupils will be looking to spend. I would make my lessons entertaining as well as give them responsibility. Firstly, the key lessons I would want my pupils to learn will be about managing their money wisely and not being rash to spend it. Another lesson I would want my pupils to learn would be about what need and wants are because a lot of pupils will buy things that they think are good without think about the longevity and the use of the product. ...read more.

Middle

However, the pupils will have some money left over which they can then use to live a healthier, more social or entertaining life. All of their actions will have consequences ie. If they went out for clubbing and consumed alcohol then they would have a negative impact on their health. The purpose of this would be to teach the pupils that they cannot have everything and that money is a limited resource which must be used with great care. It will teach them to make choices with the greatest benefit to them. Moreover, I will make sure that the pupils will be exposed to the current economic situation which is of economic recovery. This will help the pupils to understand the severity of the current economic situation that even though it is improving it is still quite bad. Hence, helping them to realise the importance of personal finance and managing their money. ...read more.

Conclusion

The reward system will be there to promote a good working ethos within the class and make sure that the pupils are working hard at all times. I believe that this is the best method because it allows the students to have fun and learn at the same time [1]- http://www.investopedia.com/terms/p/personalfinance.asp ________________ Summary The essay is all about how I would like my lessons to be much more interactive than how the current lessons are on personal finance. I would like to use power points and application rather than worksheets as I believe that students will retain more information. Moreover, I would like to apply a lot more application to the current economic status of the UK so that the students can relate to the current situation rather than an old case study. Finally, I want the students to learn the basic lessons of personal finance such as borrowing, saving and spending which will mean that they will be better prepared for the future. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Accounting & Finance section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Accounting & Finance essays

  1. Personal budget

    How much money should you save for unexpected emergency e.g. natural disasters, medical. A personal budget suits different types of people and a personal budget is more common among younger, single people as it becomes more complicated for working adults. A student's budget would include the following: * Lunch.

  2. The Purpose of Keeping Accurate Accounts

    Larger companies: need quick automated consolidation of numbers- branch results sent daily via WAN to head quarter's data centre. 11. Decision making: this is made simplified by the fact that software packages can compare previous accounts automatically. Summarised accounts are available immediately after the end of any period.

  1. What does Finance involve.

    The start-up costs which will occur in my business are stock, decoration, equipment, general (marketing, advertising, daily bills etc.) and miscellaneous costs. 2. FIXED COSTS - Fixed costs are the expenses which have to be paid either I make a lot of profit in my business or none at all.

  2. Comsat case

    Equity Risk Premium A proper equity risk premium would be one that reflects Comsat's financial risk and business risk. The financial risk of Comsat is practically zero because of its 100 percent equity capital structure, which was considered unreasonably conservative given that debt is less costly than equity.

  1. ways of finance (bussiness studies)

    4 Trade credit (short term) Trade credit is where a business customer can have a product or asset and can arrange for it to be paid for at a later date. The disadvantage is have 28 days to pay. The advantages are doing not have to pay for a lot of time.

  2. Free essay

    planning personal finances

    Who or where you borrow your money from also depends on what you are going to sped the money on. For example if I was going to buy a house I would get a mortgage because it is a long term loan.

  1. Business and finance

    Advantages. Disadvantages. You have control over your money. Unwanted money could be spent. It can save you money and time. Tend to have fewer savings. Can limit the amount you spend. Wouldn't have complete control. Below is an example of an personal budget (cashflow forecast) JANUARY FEBRUARY MARCH APRIL BANK BALANCE � - � 80.00 �160.00 � 240.00

  2. This report has been produced as evidence for Unit 9 - 'Financial Services' - ...

    If you work in the public sector, like the NHS, you may receive a tax-free lump sum automatically in addition to your pension at retirement. However, with other schemes you may be required to give up or 'commute' part of your pension income if you want to take some cash.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work