AIM

Money introduces students to responsible financial planning and management, explores the skills required to identify financial risks, and develops effective personal financial strategies.

Recommended Lesson Duration

2x 45 Minute Lessons

 
Introduction

For many young people the major attraction to entering the workforce is the independence and decision-making power an income provides. However, this can often prove a challenge for new earners, with many falling into well-known money traps. By the end of this module, students will have an increased knowledge about managing their money and will be aware of the implications of their decisions on savings, investment, credit and debt.

Learning Outcomes

On completion of this module students should:

  • Understand the differences between wages and salary
  • Interpret a pay slip, identifying net and gross pay, deductions and entitlements
  • Have a basic understanding of taxation, PAYG, and the need for a tax file number
  • Have knowledge of the lodgment of tax returns, lodgment timeframe and methods of submission
  • Have a basic understanding of superannuation and where to access information on superannuation
  • Choose a financial institution appropriate to their needs
  • Understand the basic accounts, services and products offered by financial institutions
  • Understand what debt is and the differences between good and bad debt
  • Decipher and prioritise needs and wants
  • Be aware of the pitfalls of credit cards
  • Manage a budget, personal finances and strategies for saving
  • Understand the importance of maintaining a good credit rating
Student Activities

HOW MONEY SAVVY ARE YOU? (QUIZ)

MONEY LINGO

WANTS AND NEEDS

YOUR MONTHLY BUDGET

GOOD DEBT VS BAD DEBT

MONEY GENERAL CAPABILITIES TABLE

Money Contents