Version as at 24 Aug 2004
Personal Financial Education Learning Module
Concept Map
Uses and limitations
of money
The origin of
money
What is money ?
Different forms
of payment
Personal Financial
Education
Understanding
of personal
expenditure
Saving and
investment
Am I a smart
spender ?
Factors
affecting my
spending
The meaning of
‘rich’
Sources of
money
plan
Risks of
investment
How to be
rich ?
Different kinds
of investment
Spending
skills
The importance
of savings
Types of bank
deposits and the
variations of interest
rates
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Module on Personal Financial Education
Rationale
In recent years, there are increasing cases concerning financial difficulties encountered by tertiary students. Learning
elements about personal finance are deemed to be necessary in school education. Even students at junior level should
acquire the awareness on prudent financial planning. Besides, personal finance involves self-management skills which are
essential for growth. This learning module is designed to foster teenage students self-management skills in handling
money which can be transferred to different contexts such as time and other resources etc.
Aims
In the financial industry that is demanding and diverse quickly, it is important for our youngsters to develop financial
acumen in order to decide what they do to their money and as a result steer the economic market.
Through this module, students learn to manage money, to budget, and to acquire some basic sense to deal with financial
matters such as credit cards, debt, student loans, mortgages and pensions in their future life. They also learn to recognize
the influence of sales in the wider world and to investigate consumers’ choices when facing with different marketing
strategies.
Personal responsibility and positive attitudes are essential in developing self-management skills. They are delivered
through the learning experiences of earning, spending, saving and investment. Through the learning activities, students
are encouraged to set goals and priorities, to plan and manage, to assess risks and be responsible for decision made.
Objectives
By the end of this module, students will
1. understand what money is
2. identify sources of income and expenditure
3. consider the factors that influence personal expenditure
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4. know about budgeting
5. apply spending skills
6. understand the importance of savings and ways of doing it
7. set a saving and investment plan
Level
KS3 (Secondary 3)
Duration
3-4 cycles (around 7-8 periods of 40 minutes each)
Content
What is money?
 The origin of money
 Uses and limitations of money
 Different forms of payment
Am I a smart spender?
 Understanding of personal expenditure
 Factors affecting my spending
 Spending skills
How to be rich?
 The meaning of ‘rich’
 Sources of money
 The importance of savings
 Types of bank deposits and the variations of interest rates
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


Different kinds of investment
Risks of investment
Saving and investment plan
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Continuum of Learning for Personal Financial Education
KS 1 (Primary 1-3)
&
KS 2 (Primary 4-6)
General Studies
 Use of pocket money,
savings
 The different types of work
in society
 The importance of making
rational consumer
→
decisions and ways of
doing it
 Our rights and
responsibilities as
consumers of goods and
services
Mathematics
 Number
 Measures
 Algebra
KS 4
KS 3 (Secondary1-3)
(Secondary 4-5)
Key concepts of the module
 What money is
 Income and expenditure
 Personal budgeting
 Saving up and investing for future
Technology Education
 Home management and Technology
 Resources management
 Consumer Education
 Information Processing and
Presentation
PSHE
 The rights and responsibilities of
consumers
 Services provided by common financial
institutions
 Effective decisions as consumers,
producers, savers and investors
→
Commerce
 Financial Statements
and Capital
 Stock Exchange
 Finance and Banking
 Insurance
 Advertising
(Secondary 6-7)
Business Studies (AL)
 Financial
Management
 Risk Management
Principles of Accounts
(AL)
 Cash Flow Statement
Home Economics
 Budgeting
 Consumer Studies and  Investment Appraisal
Money Management
Economics (AL)
Economics
 Money
 Money and Banking
 The Price Level
EPA
 The Individual as a
Consumer
Mathematics
 Number & Algebra
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Position of Personal Financial Education in Technology Education
Technology &
Society


Information
Processing &
Presentation
Personal
Financial
Education
Consumer Education


ICT
Legal issues
Ethical issues
Consumers’ rights and
consumers’ choices
Consequences of
consumers’ actions
Materials
&
Structures
Strategies &
Management Resources
Management
 Financial
budgeting
(personal &
company) and
reporting
Operations
&
Manufacturing
Technology
Education
Technology & Living –
Home Management &
Technology
 Management of
family resources &
budgeting
System
&
Control
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Personal Financial Education – What is Money?
Key Stage: 3 (Secondary 3)
Duration: 40 minutes
(A) Key Features
In the learning activities, students are expected to:
 Understand the origin of money
 Find out the uses of money
 Find out the limitations of money
(B) Task Definition
 Working in groups of 4 or 5, students try to trade for what they want, e.g. snacks, stationery, etc. They have to share
their feelings after the activity and explain why money is needed for today’s society.
 In groups of 6 or 8, students discuss and debate on what money can and cannot buy. Then, they have to conclude the
uses and limitations of money.
(C) Integrated Dimension of Technology
In the learning activities, students will incorporate the following learning elements:
 Resources Management
- Personal financial budgeting
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(D) Intended Learning Objectives
Knowledge Contexts
Students should be able to:
 Tell the origin of money
 Know about different methods of
payment
Process
Students should be able to:
 Find out the uses of money
 Find out the limitations of money
 Apply different methods of
payment in daily life
Impact
Students should be able to:
 Reflect their personal values and
attitudes towards money
(E) Lesson Sequences
1. Students are divided into groups to trade for what they want such as snacks, stationery, etc. They have to share their
feelings after the buying and selling activities. Then, students try to explain why money is needed for today’s society.
2. Students compare the uses of stones, shells, metal and paper as money.
3. In groups of 6 or 8, students discuss and present ideas on what money can and cannot buy in a debate. Teacher helps
students to recognize the uses and limitations of money.
4. Students brainstorm the daily expenses of teenagers and then consider the feasibility of different methods of payment.
(F) Evaluation
Learning Expectation
Assessment
Assessor
Demonstrate analytical ability
Debate/ Discussion/ Observation
Teacher
Organize and present ideas effectively
Debate/ Presentation
Teacher and Peer
Communicate with team members in
completing the task
Observation Checklist
Teacher
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Personal Financial Education – Am I a Smart Spender?
Key Stage: 3 (Secondary 3)
Duration: 120 minutes
(A) Key Features
In the learning activities, students are expected to:
 Prioritize needs and wants on a limited amount of money
 Apply spending skills before making purchasing decisions
 Prepare budgets to plan and manage personal income and spending
(B) Task Definition
 Students identify and prioritize their personal needs and wants within a week or a month. Then, they have to allocate
the money to the items in accordance with their limited budgets.
 In groups of 4 or 5, students are assigned to choose an item for applying comparative shopping skills. They have to
consider the items to be compared. Then, prioritize the alternatives for purchasing decisions.
 Each student works out a budget that supports personal financial goals. Then, follow the planned budget for a period
of time, evaluate and make adjustments.
(C) Integrated Dimensions of Technology
In the learning activities, students will incorporate the following learning elements:
 Home Management & Technology
- Management of family resources and budgeting
 Resources Management
- Financial budgeting
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Consumer Education
- Consumers’ rights and consumers’ choices
 Information Processing and Presentation
- Application of information technology

(D) Intended Learning Objective
Knowledge Contexts
Students should be able to:
 Understand personal spending
pattern
 Realize the influences of
advertisements on spending money
 Realize the influences of peer on
personal expenditure
 Identify the rights and
responsibilities of consumers
 Tell the reasons for maintaining a
budget
Process
Students should be able to:
 Prioritize needs and wants on a
limited budget
 Apply spending skills before
making purchasing decisions
 Prepare budgets to plan and
manage personal income and
spending
Impact
Students should be able to:
 Develop prudent and positive
attitudes in managing their personal
finance
 Realize their personal
responsibilities in using their money
(E) Lesson Sequences
1. Students recall their personal income and expenditure of last week and examine their current spending patterns. Then,
think of categories that might be added in the near future.
2. Students check their personal belongings such as clothing in wardrobe, computer games, stationary etc. and find out
the items which are often or seldom used. Then, work out the percentage of items that are really needed.
3. Students identify and prioritize their personal needs and wants within a week or a month. Then, they have to allocate
the money to the items in accordance with their limited budgets.
4. From videotaped advertisements, students try to discover messages that may affect their purchasing decisions.
5. Students assess the influences of peer on their personal expenditure through case study.
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6. In groups of 4 or 5, students choose an item for applying comparative shopping skills. They have to consider the items
to be compared. Then, prioritize the alternatives for purchasing decisions. Students will present their work in the next
lesson.
7. Teacher helps students to realize other spending skills before making purchasing decisions.
8. Teacher revises with students the rights and responsibilities of consumers.
9. Students share experiences of spending most of the allowance early in the week and having little left for other expenses
later. Then, discuss the reasons of maintaining a budget and the consequences of poor budgeting or not following a
good budget.
10. Each student works out a budget that supports personal financial goals. Then, follow the planned budget for a period
of time, evaluate and make adjustments. Students will share their experiences in class later.
(F) Evaluation
Learning Expectation
Communicate and present ideas
effectively
Cooperate with team members in
completing the task
Manage time wisely
Work out a priority plan and allocate
money to the items as prioritized
Apply comparative shopping skills
before making purchasing decisions
Prepare a personal budget, implement,
evaluate and make adjustments
Assessment
Assessor
Verbal and non-verbal responses/
Teacher
Observation Checklist
Observation Checklist and Rating Scale Teacher and Peer
Observation
Students’ plan
Teacher
Teacher and Peer
Work report/ Presentation
Teacher and Peer
Work report/ Self-reflection
Teacher/ Students
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Personal Financial Education – How to be rich?
Key Stage: 3 (Secondary 3)
Duration: 120 minutes
(A) Key Features
In the learning activities, students are expected to:
 Understand the importance of savings
 Realize the risks in investment
 Work out personal saving and investment plan
(B) Task Definition
 Working in groups of 4 or 5, students are assigned to study the cases, and then discuss the importance of savings and
situations in which money is urgently needed.
 In a simulation game, students are given a certain amount of money for investment. They are asked to buy shares or
deposit in various currencies. Then, they have to calculate the gain or loss from their investment after a week.
 Each student identifies his/ her long-term and short-term needs throughout the rest of life. Then, they set their
personal saving goals and work out a reasonable saving and investment plan.
(C) Integrated Dimensions of Technology
In the learning activities, students will incorporate the following learning elements:
 Home Management & Technology
- Management of family resources and budgeting
 Resources Management
- Financial budgeting
 Information Processing & Presentation
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(D) Intended Learning Objectives
Knowledge Contexts
Process
Impact
Students should be able to:
 Discuss the meaning of “rich”
 Identify their possible sources of money
and share how they manage the money
 Realize the importance of savings
 Identify different types of bank deposits
and the variations of interest rates
 Recognize different kinds of investment
instruments such as stocks, bonds, deposits
of various currencies, real estate, business,
etc
 Realize the risks in investment
 Understand the importance of insurance
Students should be able to:
 Search for interest rates for
different types of bank deposits
through websites
 Calculate the gain or loss after
participating an investment
game
 Search for their long-term and
short-term needs throughout
the rest of life
 Set their saving goals
 Work out and evaluate their
personal saving and investment
plan
Students should be able to:
 Have a positive value and
attitude towards richness
 Know their financial situations
 Plan and manage their personal
finance
 Be aware of the return and risk
of investment and be
responsible for their decisions
made
(E) Lesson Sequences
1. Students talk about the meaning of “rich”.
2. Students identify their possible sources of money and share how they manage the money.
3. Students read through case study. Then, they are divided into groups to discuss the importance of savings and
situations in which money is urgently needed.
4. Students search for interest rates for different types of bank deposits through bank websites and teacher briefs the
variations of interest rates.
5. Teacher asks students about kinds of investment that they have heard of and then briefly explains each of them.
6. In a simulation game, students are given a certain amount of money for investment. They are asked to buy shares or
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deposit in various currencies. Then, they have to calculate the gain or loss from their investment after a week.
7. In groups of 4 or 5, student discuss the worthiness of spending money on life and medical insurance or insuring the
home against theft and damage. Each group then present its opinions.
8. Teacher highlights the importance of insurance.
9. Students map out the rest of life and identify their long-term and short-term needs. Then, try to set their saving goals
and work out a personal saving and investment plan.
(F) Evaluation
Learning Expectation
Communicate and present ideas and
information effectively
Search for information and make
informed decisions
Work out a reasonable saving and
investment plan
Assessment
Observation Checklist
Assessor
Teacher and peer
Worksheet
Teacher and peer
Student’s plan
Teacher and peer
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Related Websites:
1.
Federal Reserve Bank of Dallas – Personal Financial Education
http://www.dallasfed.org/educate/pfe.html
2.
Illinois State Treasurer’s Office – Bank at School Lesson Plans
http://www.state.il.us/treas/Education/BASplans.htm
3.
JumpStart Coalition for Personal Financial Literacy
www.jumpstart.org
4.
Personal Financial Education – There’s A Lot To Learn About Money
http://www.federalreserveeducation.org/fined/index.cfm
5.
實用生活理財技巧
http://www.practicalmoneyskills.com/chinese/
6.
兒童理財教育親子同心網
http://www.hkitry.org/money/main.html
7.
香港金融管理局
http://www.info.gov.hk/hkma/cindex.htm
8.
兒童理財教育
http://www.hanna.twmail.org/Home_L1.htm
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