During Key Stage 4, pupils learn about financial decision-making and money management and to use a range of financial tools and services, including budgeting and saving, in managing personal money. They learn about, and how to assess the different sources of financial help and advice available to them. They learn about how the economy functions and the rights and responsibilities of consumers, employers and employees. They learn about the different risks and returns involved in savings and investments. They develop an understanding of the wider social, moral, ethical and environmental consequences of personal financial decisions. They continue to learn to solve complex numerical problems involving money including calculating percentages, ratios and proportions.

The aims of Financial Capability are relevant in all key stages. A number of statutory and GCSE specifications address these aims. Below you will see how Financial Capability is incorporated into the various programmes of study.

Thinking Skills and Personal Capabilities

Skills and capabilities such as self-management, decision-making and personal responsibilities are important when dealing with the various financial issues we face in our lives. For example, consider the financial decisions they will face, such as choosing an appropriate mortgage or dealing with debt within a household including managing and repaying the debt, as well as the strain it can place on family members.

The Relevance of Learning to Everyday Life and Work

Financial capability is stated alongside employability and entrepreneurship.

Attitudes and Dispositions

The teaching of financial capability promotes and encourages a number of attitudes and personal dispositions, for example, the need for ‘personal responsibility’ in the management of personal finances and ‘community spirit’ when giving to charity.