pfeg’s mission
Vanessa Bailey and
Alison Terry
Consultants
all young people
leaving school have
the confidence, skills
and knowledge in
financial matters to
take part fully in
society.
5th July 2008
Personal Finance in Mathematics
The one stop shop
for all your pfe
needs
Aims of this workshop:
• Opportunities for Financial Capability in the new maths
curriculum from Sept 2008
• Motivating students through money related activities
• Exploring some sample resources
• Questions
www.pfeg.org
Money Maker Deals – Which One’s For You?
I have three deals on offer. You give me £100 and at
the end of a year I give you…
Deal One
Deal Two
Deal Three
Your £100 gets you
£110 at the end of a
year
Your £100 gets you
£150 at the end of a
year
Your £100 gets you
£200 at the end of a
year
Deal One
Deal Two
Deal Three
Invests in a small local
firm giving training and
skills to local
unemployed young
people.
Imports cocoa beans
from developing
countries and sells
them to sweet
manufacturers
Invests in companies
making armaments
and selling them to
countries in the
developing world
Mathematics Programme of Study - 2008
Mathematical skills are needed to compare
different methods of borrowing and paying
back money, but the final decision may include
other dimensions, such as comparing the
merits of using a credit card that promotes a
particular charity with one offering the lowest
overall cost.
1
Activity
… what references are there to
Personal Finance in the new
Programme of Study
The Savings Habit …
• You start at 18 and save £1 a day – how much is it
worth at age 60?
Answer: £118 025
Functional Skills – how will Financial
Capability help?
• Real life contexts
• Financial data available in a variety of tables,
graphs and diagrams
• Caters to need for high levels of literacy and
comprehension
• Opportunities for cross-curriculum work
QCA Study Plus Initiative
• Targeting the C/D borderline
• Separate option blocks for Maths and English
• Project style work
• Example - Delivering the Goods KS4 resources
(available from pfeg consultants)
Activity: How might these be differentiated?
Sometimes, always or never true?
Maths Mini Activities
• An annual percentage rate of 5% is better than 4%
24 free activities to cover a range of abilities
• An offer of buy one get one free soap powder is always
better than the same powder at 50% off
• Pick 2 from the 5 in your pack – how would these
be useful for you in class?
• Use feedback form for comments
• Money = security
(all the mini activities are available from your local
consultant on registering for support with pfeg)
2
Use Your Expertise
A dating service between schools and financial services
volunteers.
By registering on the website (www.useyourexpertise.org)
you gain access to all of the volunteers in your local area.
We can help you with:
£
£
£
£
units of work
teaching resources – including Quality Marked
staff INSET
financial volunteers in the classroom
Useful enrichment of the curriculum, bring a ‘real’ element
that is often appreciated by students.
Questions …
and lastly…
Using Personal Finance in maths is motivating for
both teachers and students.
For pfeg support - simply register for the
Learning Money Matters project on
www.pfeg.org or call 020 7330 9481
3
Coffee Shop
Teacher
This activity is designed to follow or form part of a series around statistics. Student will
need to know how to carry out some statistical calculations before they begin. The aim of
the activity is for students to consider which calculations might be most useful rather
than simply calculating a given series of them for the sake of it, e.g. if they want to know
the average amount spent, then which average would be the most helpful? It also
encourages students to think about what other information might also have provided
valuable data, e.g. there are several people who each spent £1.99 but there is no
information about what they bought; was it the same product each time? Similarly the
most popular products, either overall, or at a given time of day can’t be identified.
Students
Student to consider which calculations might be most useful rather than simply
calculating a given series of them for the sake of it.
Resources
None.
Keywords / Key Phrases
Statistics, independent thinking, reasoning, problemsolving
Running a business, markets & competition,
entrepreneurship,
KS3 Statistics 3.3b
KS4 Statistics 3.3b
Maths Keywords
Financial Keywords
Maths PoS Ref.
Ability range
KS3
KS4
Links
None.
2-3
ELC-G
4-5
E-F
9
6-7
D-C
9
8+
B-A*
9
Coffee Shop
The information below was collected by a coffee shop at the edge of the town centre
between 9 and 11 am on a Wednesday morning in late September.
What information can you deduce about the area, the shop and the shop’s clientele? Is there
a particular market that the coffee shop should aim at? What other information would have
been useful to collect?
Sex
M
M
F
M
F
F
F
F
F
M
M
F
M
F
F
F
M
M
M
F
F
M
F
M
M
F
F
F
F
F
F
F
F
F
M
F
M
M
F
F
N
F
F
M
F
M
M
F
Age
24
45
68
45
12
17
89
56
45
78
12
56
35
12
65
23
24
29
35
40
41
48
50
58
56
25
23
21
18
17
15
19
21
28
38
41
35
31
41
44
46
55
33
28
54
20
24
21
Occupation
admin assistant
accountant
solicitor
mature student
schoolgirl
shop assistant
retired
market trader
salesperson
retired
schoolboy
unemployed
nurse
schoolgirl
legal secretary
unemployed
self employed
electrician
Teaching assistant
nurse
nurse
nurse
nurse
office
shop manager
secretary
admin assistant
student
student
trainee cashier
schoolgirl
shop assistant
admin assistant
legal executive
surgeon
housewife
solicitor
electrician
housewife
manager
nurse
shop assistant
brick layer
site foreman
writer
student
student
student
Arrival time
08:00
08:02
08:05
08:06
08:10
08:11
08:13
08:14
08:16
08:17
08:20
08:21
08:22
08:25
08:28
08:32
08:37
08:40
08:42
08:50
08:51
08:52
08:53
08:57
09:05
09:12
09:18
09:24
09:25
09:34
09:38
09:44
09:50
09:58
10:02
10:12
10:15
10:18
10:20
10:26
10:31
10:37
10:43
10:50
10:53
10:55
10:56
10:57
Amount spent
£2.55
£1.99
£2.50
£1.99
£3.50
£4.25
£1.99
£3.50
£7.55
£2.50
£2.50
£1.25
£2.25
£1.25
£2.80
£3.45
£8.75
£6.50
£3.50
£6.25
£6.25
£6.25
£6.25
£4.25
£1.99
£10.98
£5.50
£3.50
£2.50
£1.99
£2.65
£3.30
£4.20
£5.25
£4.75
£7.60
£1.99
£2.99
£7.75
£5.50
£2.50
£2.25
£5.00
£4.25
£7.25
£5.00
£2.50
£2.50
What’s Your Problem (in the Bank)?
Teacher
All these expressions come from the world of banking but what problem are they
solving?
This could be run as a simple team quiz game - 1 mark for each correct problem.
Further elaborations are possible:
• Each team must think up one or more expressions like those below.
• With brighter students teams could win points for all expressions the other teams
can't put problems to.
• Teams lose points if their answer does not fit the expression … double if it was an
expression they proposed.
Homework could be to think of some tough ones for next lesson … with matching
problems of course!
Possible matching problems are given on the right of each. Don’t show these to
students.
Students
Imagine you are working in a shop and you found all this maths stuff in a drawer. Can
you suggest what these expressions are working out?
Resources
None.
Keywords / Key Phrases
Percentages of quantities using decimal multipliers,
multipliers with powers
Balance, interest
KS3 Number and algebra 3.1b
KS4 Number and algebra 3.1b
Maths Keywords
Financial Keywords
Maths PoS Ref.
Ability range
KS3
KS4
Links
None.
2-3
ELC-G
4-5
E-F
6-7
D-C
8+
B-A*
9
9
What’s Your Problem (in the Bank)?
Expression
Possible problem
150 x 0.06
What interest do you gain in a year on
£150 in a savings account paying 6%
per annum?
150 x 1.06
What's the balance after a year?
150 x 1.06 x 1.06
What's the balance after 2 years?
150 x 1.062
ditto
150 x 1.063
What's the balance after 3 years?
250 x 1.072 + 250 x 1.07
What's the balance after putting away
£250 p.a. over 2 years at 7% interest?
250 x 1.073 + 250 x 1.072 + 250 x 1.07 What's the balance after putting away
£250 p.a. over 3 years at 7% interest?
250 (1.073 + 1.072 + 1.07)
ditto