Unit 1 highlights the importance of financial capability in meeting immediate and short-term financial needs. It introduces students to the financial services industry by focusing on the interaction between money, personal finance and the financial services marketplace. Students will gain an understanding of cash flow to meet immediate and short-term financial needs through balancing income against expenditure and will also gain an appreciation of the differentiation of financial products for savings and the key features of interest and charges on borrowing. Students will understand their key responsibilities in terms of earning, income tax, National Insurance and other personal financial considerations depending on the stage of their life cycle whilst also gaining an appreciation of why money is important through focusing on what money is; attitudes to it; and how it can affect life choices.
Grade 4 in English (language or literature)
Grade 4 in maths