Year 9

What is the best way to look after money?

Year 9

What is the best way to look after money?

Lesson details

Key learning points

  1. In this lesson, we will explore what money is, the choices we have in relation to money, and how we can manage our money responsibly. We consider the idea of financial responsibility in relation to spending and saving, and what this means for us as individuals, members of families and communities, and in relation to wider society.

Licence

This content is made available by Oak National Academy Limited and its partners and licensed under Oak’s terms & conditions (Collection 1), except where otherwise stated.

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5 Questions

Q1.
What was the first version of currency used in China?
Coins
Correct answer: Cowry Shells
Fruit
Sea Shells
Q2.
What phrase on a bank note refers to the "Gold Standard"?
“I promise to gift the bearer on demand the sum of…”
“I promise to never pay the bearer on demand the sum of…”
“I promise to pay the bearer on demand the amount of…”
Correct answer: “I promise to pay the bearer on demand the sum of…”
Q3.
What is a Jam-Jar account?
Correct answer: A budgeting account which allowed you to split your money up.
A jam jar at home to store your money in
A place where you can choose from different jars
Q4.
What is an investment?
When you pay for something to gain ownership of it.
Where you lend money to other people.
Correct answer: Where you put money into something looking to gain a ‘return’ (more money).
Q5.
What is financial responsibility?
Choosing a good bank account.
Giving your money to other people to help them.
Saving all your money.
Correct answer: The process of managing money in the best interest of those involved.