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B1 Money, Debt and Credit

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Aim: To teach young people to be responsible with their money. This activity is best spread over three weeks. Taken from the BB Company Section Discoverer Pro Pack Community Local and National B1


Activity 1
• True or False Money Quiz template
• True or False Money Quiz Answers template
• Pens

Activity 2
• ‘How to Manage Your Money Quiz’ template
• ‘How to Manage Your Money Quiz Answers’ template
• ‘Sample Bank Statement’ template
• ‘Understanding a Bank Statement’ template
• ‘Understanding a Bank Statement — Answers template

Activity 3
• ‘Budget Planning’ template
• Budget Planner’ template
• Pens
• Flipchart paper & pens


Activity 1 - True or False Money Quiz

Aim: To get the group to start thinking about the topic of money and why they should manage the money they have.

• Distribute the quiz sheets around the group.
• Give the group 10 minutes to complete the quiz either individually or in pairs.
• Run through each of the statements asking the individuals or pairs to indicate whether they believe the statement to be true or false.
• The differing responses should be used to initiate discussion.

Activity 2 - How to Manage Your Money

Aim: To learn about what banks do and how to manage your money effectively.

• This activity is aimed at assisting the group in thinking about how operating a bank account effectively can assist in managing personal finances.
• The quiz is the starting point and going through the answers should lead to discussion and sharing of experiences in operating a bank account.
• The ‘Understanding a Bank Statement’ exercise assists the group in learning how they can use a bank statement to help manage their money.
• Distribute the ‘Sample Bank Statements’ together with the questions sheet.
• Ask the group to work in pairs and answer the questions.
• Discuss the answers as a group.
• These activities are probably best undertaken in pairs followed by a time altogether discussing the an answers.

Activity 3 - Understanding Credit

• To understand what is meant by “credit” and to explore the occasions when someone might borrow money & where from.
• To plan and work out a simple budget.

• Explain that in this session we are going to think about what it means to lend and borrow money.
• Split the group in half. Explain that one half is going to play the part of “Lenders” and the other half is going to play the part of ‘Borrowers”.
• Ask the “Lenders” to list all the different groups that may lend money. The list could include — parents, family, banks, building societies, moneylenders.
• Ask the “Borrowers” to list all the different things you might want to borrow for. The list could include — holidays, to buy a house, wedding, car, home or garden improvements.
• Get the groups to share their ideas.
• Instead of splitting the group in half you could ask the group to work in pairs considering both the role of the lender and borrower.
• Ask the group to read the ‘Budget Planning’ case study sheet.
• Again, get the group to play the part of lenders and borrowers.
• The lenders are now the bank. Ask them to write down all the questions they would want to ask before they agree to lend David Evans any money for a car loan.
• The borrowers are now David Evans. Ask them to write down all the questions they expect to be asked by the bank before agreeing the loan.
• One of the key questions will be about affordability.
• Using the handout detailing David’s monthly financial commitments, ask the group to work in pairs to complete the budget planner.
• Use the exercise on budget planning to help the groups decide whether David could afford to repay £180 on a £5000 loan.
• As an additional exercise you could ask the group to work in pairs and role play the interview David would have in the bank, using some of the questions the group came up with earlier in the session and the background information for David Evans.

For full details see the BB Company Section Discoverer Pack Community B1


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