What type of insurance is this?

Package in which an insurer provides protection against a possible eventuality which are related to situations that involve your vehicle such as theft or an accident.​

What type of insurance is this?

The customer pays for an insurance policy that cover them against the risk of damage to the place they live.​

What type of insurance is this?

Insurance that covers what is in someones home from theft or damage

What type of insurance is this?

Can protect both groups and individuals whilst abroad.

What type of insurance is this?

Helps to limit the costs of going to a vet.

What type of insurance is this?

Covers individuals, families or employees against medical expenses including assessments, treatments ad loss of earnings​.

This is the legal minimum insurance you need to drive a car and will only cover injury to others and damages to their property caused by you. It doesn’t cover any of your costs as a result of the accident​

True or False

Young people are more likely to be in a car accident so pay higher insurance premiums.

True or False

Older people are more likely to have existing health problems so pay lower insurance premiums.

If you borrowed £12,000 at 5.6% interest over 1 year how much would you repay in total?

True or False

Using Hire Purchase you can pay a deposit and and use a car straight away but if you dont keep up with your monthly payment the seller will take it back as it is theirs until you pay for it in full.

True or False

Mortgages are a suitable form of borrowing for low value items that fluctuate in price often.

True or False

Pay day loans are the best form of borrowing as they offer the highest interest rates.

What am I?

I can be paid off at the end of the month or you can just pay a minimum amount for now. Then pay some interest in addition to the outstanding balance. 

Placing money in a secure place so it grows in value and can be used in the future such an ISA is the description for....

Making a commitment to a project in the hope that it is successful and gives you a healthy return​ such as shares is the description for....

True or False

A benefit of an ISA is that you do not have to tax on interest earned

Up to _____ per person is protected in UK regulated financial institutions.

What am I?

Money leant for a set period of time to goverments or companies in return for a fixed return and some risk of losing some or all the value of the investment.

What am I?

I pay dividends if you own me and the company I am from makes a profit. I go up in value if more people want to buy me but go down in value when people sell me.

What am I?

I do not pay interest but I am entered into a regular draw for cash prizes. The more of me you have the more change you have to win. 

Money that is paid out is referred to as?

Overspending now will put you at risk of financial difficulties...

How many reasons are there to plan expenditure?

You should control costs to avoid ________ in the future

When debt builds up it becomes expensive because ________ is charged on the money owed.

If debts are not paid back on time it will affect your ________ rating.

A poor credit rating will affect your ability to borrow money in the future. If debts spiral out of control a individually may be declared ____________.

What is meant by solvent?

What can you earn on money saved?

Planning expenditure helps to counter the effects of...

Planning expenditure provides insurance against loss or .....

Planning expenditure can help an individual set...

Planning expenditure can help an individual generate income and ....

Planning expenditure can help manage money to fund...

Planning expenditure can help avoid...

Identify the benefits of planning expenditure

Identify the risks of not planning expenditure

Identify the four functions of money

Identify the function of money being explained

Money can be placed in a bank and then used in the future to buy goods and service.

Identify the function of money being explained

Money is the official method of payment for goods and services and the national currency of a country.

Identify the function of money being explained

Places a value on goods and services. In the UK this is pounds and pence.

Identify the function of money being explained

Used to buy or trade goods and services.

Identify the factor influencing your view of money being described below.

Your background including religious beliefs or ethical principles.

Identify the factor influencing your view of money being described below.

Events outside of your control, such as the state of the economy.

Identify the factor influencing your view of money being described below.

When they are low they are good for borrowers but not savers. When high they make it more expensive to borrow but savers receive more on their deposits.

Identify the factor influencing your view of money being described below.

Some people prefer to take a chance to make money, while others prefer to play it safe.

Identify the factor influencing your view of money being described below.

There are five main periods of life, and your financial priorities and needs will change through each one.

Identify the factor influencing your view of money being described below.

Things that occur in life such as being made redundant or moving house can all have an impact on how you view money.

Identify the five main life stages

Identify the financial need of a young adult

Identify the financial need of a child

Identify the financial need of a person in middle age

Identify the financial need of a person in old age

What is this method of payment?

Money is uploaded onto a card with transactions then being withdrawn to reduce the balance.

What is this method of payment?

Written order to a bank, to make payment for a specific amount of money, from one person's account to another.

What is this method of payment?

A card only accepted by a specific store.

What is this method of payment?

This is when an agreement is made with a bank, allowing a third party to withdraw money from an account on a set day to pay for goods or services for a variable amount.

What is this method of payment?

A system that allows the transfer of payments directly from one bank account to another within 3 days​.

What is this method of payment?

A system that allows the transfer of payments directly from one bank account to another on the same day with no limit on the amount transfered.

What is this method of payment?

A system that allows the transfer of payments directly from one bank account to another within 2 hours​

What is this method of payment?

An agreement made with a bank to transfer a fixed sum of money to a third party account on a set date on a regular basis​ for a set amount

True or False

A disadvantage of using cash is that it can be lost or stolen

True or False

An advantage of using debit or credit cards are that they are widely accepted.

True or False

An advantage of using a credit cards is that the S75 Cpmsumer Credit Act gives you protection on purchases.

True or False

An advantage of using a credit cards is that the S75 Cpmsumer Credit Act gives you protection on purchases.

What type of Current Account is this?

The most common account, you can pay in and withdraw money, you will receive a debit card, be able to pay for things online and set up a prearranged overdraft. ​

What type of Current Account is this?

This account has a monthly fee in return for additional benefits such as breakdown cover, cashback on purchases, home insurance and payment protection.

What type of Current Account is this?

Mainly used by people who have a poor credit rating and struggle to open a standard account​. It will have very limited features.

What type of Current Account is this?

Designed to benefit students. Especially useful for students attending university as they often provide interest free overdrafts, rail cards and discounts on eating out.

True or False

Offering students easy access to overdraft facilities encourages them to be spend sensibly.

True or False

The benefit of a a premium account is that all the extra features are very useful for everone in all circumstances so is great value for money.