A Teacher’s Perspective
Personal Finance Award (GA1Y 44)
Mike Smith
 Curriculum Leader: Mathematics & Numeracy
 Trinity Academy, Edinburgh
 Involved since launch by SQA, ifs, LTS
 Involved in revising Units
 Involved in development of assessments
What do I hope to achieve today?
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Outline changes and/or revisions to the Units
Compare content of ifs/SQA units
Give an overview of the (SQA) Units
Indicate links to Curriculum for Excellence
Indicate some useful resources
Describe a way to deliver the Award
Changes 1: ‘Structure’
Foundation Certificate in
Personal Finance
 Understanding Money
 Managing your Money
Personal Finance Award
 Principles of Money
 Money Management
 Assessment through SQA
 (SOLAR)
 Dual certification
Changes 2: ‘Content’ – Unit 1
ifs
 Principles of Money
– What money is?
– Where the term money comes
from
– Where money can be stored
– How to open a bank account
– Features of current account
– Ways money can be debited
from account
– How to manage cash
SQA
 Principles of Money
– Identify money
– Identify and describe different
forms of income
– Describe ways to store and
access money
– Create and use a budget
– Describe how to open a bank
account
– Foreign exchange
Changes 2: ‘Content’ – Unit 2
ifs
 Money Management
– Sources of income
– Features of different savings
products
– Providers of borrowing
products
– Items exchanged for money
– Different types of spending
– Personal budget
– Protecting items of value
SQA
 Money Management
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In Principles of Money
Costs and calculate bills
Different forms of borrowing
Insurance and long term
financial planning
– Buying and spending
(including auctions)
Comparison
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Has to be ‘comparable’ - for delivery across UK
Mostly same material
Perhaps ordered differently
Changes to fit with CfE
Changes to fit with ‘Scottish cohort’
Principles of Money (SCQF level 4)
 Task 1
Identify Money
» Main features of coins and banknotes
» What is accepted and recognised as money
» Identify what makes money legal tender
 Task 2
Identify/describe different forms of income
» Different ways of earning money
» Payslips
» Minimum wage, benefits, tax credits
 Task 3
Store and access money
» Personal bank accounts
» Accessing money
» Debit/credit cards (including costs)
Principles of Money (SCQF level 4)
 Task 4
Creating/using a budget/open bank account
» Areas to consider in a personal budget
» Short term savings and financial planning
» Opening a personal bank account
 Task 5
Foreign currencies and foreign exchange
» Features of some foreign currencies
» Currency exchange
» Commission or no-commission
Money Management (SCQF level 4)
 Task 1
Investigate costs and calculate bills
» Utility bills
» Mobile phones and packages
» Motoring and travel
 Task 2
Different forms of borrowing
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 Task 3
Sources of borrowing
How products are promoted
Loans and repayments
Credit and store cards
Insurance and long term planning
» Types of insurance, and costs
» State pension, private pension
» Long term savings accounts
Money Management (SCQF level 4)
 Task 4
Buying and spending
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Hire Purchase
Discount schemes
Buying and selling at auctions
Profit and Loss
 More detailed information in Personal Finance Award
section of SQA website where you can download full
Unit specifications.
Links to CfE
 All the “money” type Experiences and Outcomes
are covered over the two Units
 These are to be found in the MNU codes
 There are obvious links to other curricular areas
such as Social Subjects, Technology and Health
and Well-being
 Thus inter-disciplinary working is possible
Mathematics Outcomes
Principles of Money
Experiences and Outcomes
 Task 1
 Task 2
 MNU4 09 b
 Task 3
 MNU4 09 a
 Task 4
 MNU2 09 a
 Task 5
 MNU3 08 a
 MNU4 09 c
Mathematics Outcomes
Money Management
 Task 1
E and O
 MNU3 09 a
 Task 2
 MNU2 09 b
 MNU3 09 a, MNU3 09 b
 Task 3
 Task 4
 MNU2 09a, MNU2 09b
 MNU2 09c
 MNU4 09a
Other Curricular areas
 Social subjects
 SOC2 15, SOC2 16, SOC2 21
 SOC3 04, SOC3 20, SOC3 21
 SOC4 20, SOC4 21
 Technology
 TCH1 03, TCH2 03
 TCH3 02, TCH3 07
 TCH4 07
 HWB
 HWB3 19
 Literacy
 LIT3 14, LIT 3 15
 LIT4 14, LIT4 15
Resources
 Number of on-line resources which can be done
‘interactively’, or worksheets etc can be downloaded for
use in class
 ifs website
 Download pdfs from SQA
 www.scotbanks.org.uk
 www.pfeg.org.uk
 www.moneymadeclear.org.uk
 www.bbc.co.uk/raw/money (now deleted)
 www.rbsmoneysense.co.uk
 www.moneysavingexpert.com
 www.teachers.tv
Other Resources
 General/Intermediate 1 type material/LM4
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HP
Wages
Insurance
Foreign Exchange, etc
All readily available from existing resources
 Glow – Lifeskills mathematics materials
 Spending Sense cd
 Adds up to a lifetime resource
Delivery
 Mixture of online and workbook
 Mini-project (‘case study’ type activity)
 Perhaps do Numeracy Unit (N4 or N5)
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PoM
Aug – Nov/Dec (3 hours per week)
MM
Jan – Easter (3 hours per week)
Gives about 40 hours per Unit
Allows time for Numeracy Unit if desired
Delivery
 My class ‘visits’ four times per week (55 min periods)
 1 visit could be numeracy work (or further research)
 Over about 14 weeks @ 3 visits per week gives a
comfortable 40 hours per Unit
 PoM
Aug – Nov/Dec (3 hours per week)
» Allows about 8 visits per task (5 tasks)
» About 2 visits per ‘bullet point’
» But, obviously, adjust to suit
» Final visit a review time
 MM is similar (Jan – Easter)
Assessment
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Assessment is done on-line through SOLAR
Use ‘OpenAssess’ for formative practice
“Book” a time slot per student
Dynamically generated so students can sit next
to each other – having different questions
 Immediate feedback
Last slide . . .
 Thank you for listening
 mike.smith@trinity.edin.sch.uk