The teaching aims of this lesson are to explain the concept of debt, what it is and how to avoid it, and the consequences of debt.
You will also explain to students the importance of money management and the potential consequences if money is not managed properly, enabling them to understand the possible influences and reasons for debt and what to do if they get into debt.
Students will understand what debt is and how to avoid it, identify the possible reasons for getting into debt, understand the difference between essential and non-essential spending, the importance of budgeting and the potential consequences of not, and what steps need to be taken if they do get into debt.
This resource includes:
- Lesson plan PDF
- Activities PDF
- PowerPoint presentation
Make Money Make Sense has been developed by Eastbourne Citizens Advice Bureau and East Sussex Trading Standards, providing teachers with all they need to teach the financial literacy aspects of the citizenship curriculum. Download more of its resources here or on its website at moneymakesense.co.uk.