JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the...
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Transcript of JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the...
![Page 1: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/1.jpg)
JBlack - Financial Capability (APO)
Financial Capability (FC)Financial Capability (FC) within the NI Curriculum
Mrs Jill Black CCEA – Education Manager
Financial Capability
![Page 2: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/2.jpg)
JBlack - Financial Capability (APO)
Learning OutcomesLearning Outcomes To develop a clear understanding
of:
The definition of FC.
The rationale for FC.
FC within the NI
Curriculum
Available
resources/websites
![Page 3: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/3.jpg)
JBlack - Financial Capability (APO)
What is Financial What is Financial Cap?Cap?
Fundamentally:
It’s about being able to
manage your finances now and in the future!
![Page 4: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/4.jpg)
JBlack - Financial Capability (APO)
What is Financial Cap?What is Financial Cap?
Making financial ends meet Keeping track of finances
Planning ahead for financial needs Choosing financial products
Staying informed of economic indicators
Managing Money, 2005: Survey conducted by the NICC & FSA
![Page 5: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/5.jpg)
JBlack - Financial Capability (APO)
Financial capability is more than the ability to add/subtract money and to know what your change should be when shopping. It is about making informed choices based on :-Needs
Wants
Budget
Best Value
What is Financial Cap?What is Financial Cap?
![Page 6: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/6.jpg)
JBlack - Financial Capability (APO)
Financial Knowledge and UnderstandingUnderstanding the concept of moneyWhere does it come from?Where does it go?
Financial Skills and CompetenceKnowing how to look after and manage moneyHow do we plan to look after our spending?How can we evaluate basic risk and return?
Financial responsibility Making personal life choices, and thinking about the ethics of money
Do the choices we make impact on others – and if so, how?
What is Financial Cap- Interrelated What is Financial Cap- Interrelated Themes?Themes?
![Page 7: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/7.jpg)
JBlack - Financial Capability (APO)
Financial Cap. RationaleFinancial Cap. Rationale
•Almost 900 people in Northern Ireland went bankrupt in 2005-2006’ (citizens advice bureau)
•More than a quarter(27%) used no information at all when making financial decisions. (NI Consumer Council/FSA, 2005)
• 1 in 3 people in Northern Ireland did not feel they could manage for more than a month if their income fell.’(NI Consumer Council/FSA, 2005)
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JBlack - Financial Capability (APO)
‘‘
Financial Cap. RationaleFinancial Cap. Rationale -Money in the 21st century
Changes in shopping habits mean children may now be experiencing very different situations:
•paying with ‘plastic’ or a cheque
•‘cash-back’ or cash dispensers
•Pocket money
•Direct debit , standing orders and e-banking.
![Page 9: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/9.jpg)
JBlack - Financial Capability (APO)
Why teach Financial Cap. Why teach Financial Cap. ??
•To develop a generation of financially capable citizens
•Entrepreneurial skills do not necessarily lead to FC.
•Accessibility to debt
•We must prepare the future generation with: - the knowledge and skills to budget / handle money wisely - the ability to make informed and sound judgements
![Page 10: JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager.](https://reader038.fdocuments.us/reader038/viewer/2022103111/5515fec6550346a2308b4af6/html5/thumbnails/10.jpg)
JBlack - Financial Capability (APO)
Financial Cap. Financial Cap. Warnings?Warnings?
•It is very important to recognise that some children’s experience of money is still very much within a cash economy
•Some children may live in a financially excluded society which does not have access to legal financial services
•Cultural diversity can give children varying and different experiences of finance/financial services
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JBlack - Financial Capability (APO)
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JBlack - Financial Capability (APO)
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JBlack - Financial Capability (APO)
Just Some Just Some
Resources!Resources! Talk Money, Talk solutions
Money WeekOn the Money
Making sense of moneyMoneyville.co.uk
Pfeg: www.pfeg.org
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JBlack - Financial Capability (APO)
Reasons for not teaching Financial Capability:-
Not having enough timeOther prioritiesNot appropriate for children of this ageLack of staff timeLack of awareness of the topicParental responsibility
Source: FSA(2002) Personal Finance Teaching in Schools
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JBlack - Financial Capability (APO)
Schools would be helped by:-
•More materials•More training and more advice•More information from financial companies•Exemplar lessons and examples of good practice•Information of how to integrate financial capability into the curriculum
(PFEG)
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JBlack - Financial Capability (APO)
Just Some Just Some
Resources!Resources! www.pfeg.org*
www.nicurriculum.org.uk
www.consumercouncil.org.uk
www.fsa.gov.uk/consumerhelp
www.citizensdvice.co.uk/moneytalks
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JBlack - Financial Capability (APO)
Contact DetailsContact Details
Jill Black – Education ManagerJill Black – Education Manager
Tel: 028 9026 1200 Ext 2616Tel: 028 9026 1200 Ext 2616
Mob: 077 8652 8830 Mob: 077 8652 8830
E-mail: [email protected]: [email protected]