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Education
Firstplus Financial Group plc, a wholly owned subsidiary of
Barclay’s plc, founded in 1997, is responsible lender that tailors
loans individually with all its customers. The company believes that
it is vitally important for personal finance knowledge to be
acquired by pupils before leaving school to help them make the right
choices in the future.
Teenagers should know about the basics of balancing a personal
budget and he range of money choices open to them, as adults, to
live the lifestyle they choose.
Credit is a fact of life for most people today: if used responsibly
it helps people to achieve their aspirations easily, with little or
no risk to their financial security. However, irresponsible lending
and borrowing can, and
does, have an adverse effect on a small but important minority. This
is why we believe that young people need better understanding of
personal finance that ever before.
Firstplus wants to reach young people to help them develop financial
understanding, acquiring the skills to deal with everyday financial
issues, particularly about borrowing money.
This teaching resource, Borrow Wisely, aims to help introduce your
pupils to the issues that surround all decisions to borrow money.
For photocopiable lesson plans will be found on the reverse of the
enclosed poster and a project response card invites you to let us
know what you think of this teaching resource, as well as what other
personal finance topics you’d be interested in. Please complete and
return it to us.
The poster gives information on the five elements to ask questions
about before committing to a loan-APR, term, set-up fees, early
settlement penalties and payment holidays. By putting this up on the
classroom wall during project work, students will be reminded of the
key factors to look for when seeking a loan.
The project opens with a questionnaire about money for students to
complete. Then, three lesson activities let students analyse and
evaluate the financial options open to the Wisely family. These help
teach students about important personal finance issues, the costs of
borrowing, forms of borrowing and the relevance of the concept of
paying interest. On completion of the lessons, take your students
back to the original project
questionnaire to find out whether or not they have changed their
perspectives about the topic of debt.
We hope you enjoy using Borrow Wisely and that your students lead
the way in learning to ask questions before signing on the dotted
line for debt.
www.firstplus.co.uk |
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