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Year 9Citizenship

What are the implications of borrowing money?

Lesson outcome

In this lesson, we will consider what borrowing is and how it can be used to help us manage money well both within our personal lives and in wider society. We will explore the different kinds of borrowing available including loans, overdrafts and credit, and what each is used for. We will also learn about interest rates and the implications of short, medium and long term borrowing in relation to a range of situations.