Teaching Personal Finance
SQA Personal Finance Award SCQF Level 4
ifs Certificate in Personal Finance Level 2 (SCQF Level 5)
 Principal Teacher: Mathematics & Numeracy
 Queen Margaret Academy, Ayr
 Involved since 2010 with SQA
 Involved in development of assessments for
Solar
 Involved in development of formative questions
for Solar Open Assess
Learning Intentions
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What do we offer?
Why is it offered?
Who is it offered to?
How do we deliver it?
Give an overview of the ifs Units
Indicate some useful resources and links
What do we offer?
SQA Personal Finance Award SCQF Level 4
ifs Certificate in Personal Finance Award Level 2
(SCQF Level 5)
Why is it offered?
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Alternative to National 4 Maths
Additional qualification to National 4 Maths
Qualification for Christmas leavers
Additional qualification for any pupil
Who is it offered to?
Any pupil in S5/6
How do we deliver it?
 6 period a week
 50 minute periods
 Joint delivery of SQA and ifs courses
 Deliver using the ifs Certificate in Personal
Finance Award Level 2 (SCQF Level 5)
materials
Overview of ifs Units
 ifs Certificate in Personal Finance Award Level 2
(SCQF Level 5)
Consists of 3 units
 Unit 1: Personal Financial Encounters
 Unit 2: Money Management Solutions
 Unit 3: Personal Financial Management
August to November
Unit 1 : Personal Financial Encounters
1. Understand the features of legal tender.
2. Understand the sources of money.
3. Understand the documentation linked to different sources of money.
4. Be able to carry out pay slip calculations.
5. Understand different types of bank account.
6. Understand the various choices available for storing money.
7. Understand the true costs of spending.
8. Be able to work out the true cost of spending.
9. Understand the concept of using money to make money.
10. Understand the concept of using money abroad.
11. Be able to work out foreign exchange calculations.
December to February
Unit 2: Money Management Solutions
1. Understand the tools used in managing money.
2. Understand different types of payment card.
3. Understand different types of borrowing products.
4. Be able to work out the cost of borrowing.
5. Understand the benefits of paying in advance
6. Understand the issues surrounding the provision of insurance
7. Understand the purpose of bank statements.
8. Be able to create a medium-term budget.
9. Know where to go for different types of financial advice.
March to May
Unit 3: Personal Financial Management
1. Be able to use calculations to make spending choices.
2. Understand the link between personal financial budgets and spending choices.
3. Understand the sources of personal financial protection.
4. Know the consequences associated with spending.
5. Know the consequences associated with borrowing.
How do we teach it?
 Deliver using the ifs Certificate in Personal
Finance Award Level 2 (SCQF Level 5)
materials.
 Pupils access ifs website for materials and case
studies
 Use of ifs printed materials
 Role playing scenarios
 Use of websites
Resources
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ifs website
Download pdfs from SQA
www.scotbanks.org.uk
www.pfeg.org.uk
www.moneymadeclear.org.uk
www.rbsmoneysense.co.uk
www.moneysavingexpert.com
https://www.wonga.com
http://www.scotwest.co.uk
Resources
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Holiday company websites
Airline websites
Insurance comparison websites
Youtube clips, Ross Kemp in Glasgow,
The Scheme (needs to be watched first to make
sure content is suitable), The Debt Collector
 Existing textbooks
Assessment
 SQA Personal Finance Award SCQF Level 4
 Pupils are given practice assessments on SQA’s
Solar OpenAssess.
 When the pupil is ready they are assessed on
Solar.
Assessment
 ifs Certificate in Personal Finance Award Level 2 (SCQF
Level 5)
 Pupils are given practice assessments downloaded from
ifs website.
 These are 20 multiple choice questions with short case
study questions at the end
 Assess after each unit or at the end of the course
 Book written multiple choice exam papers
3 weeks before exam
Awards
 Pupil is awarded a certificate from ifs
 This is worth 14 SCQF credit points
 This qualification is also recognised
on Insight
Next Steps
 We hope to deliver the SQA Personal Finance
Award SCQF Level 4 to all S1–S3 pupils through
the CfE courses currently delivered within the
department.