Wilmington Grammar School for Boys, Common Lane, Wilmington, Dartford, DA2 7DA
01322 223090

FINANCE

FINANCE

Department Vision

Our aim is the make our students financially aware of the decisions they will have to make later in life. Through the studying of finance, we want to equip them with the knowledge to make sound financial decisions as a young adult to enable them to prosper in life. Through our lessons they will be posed with many problems, mature in nature in which we will seek to find the appropriate solution and be financially literate with their oracy.  

Years 8 & 9

Year 8

TermTopicLearning outcome
Term 1What is money-Explain the purposes of money; and
-Understand the sources and features of money
What is means to be a citizen-Understand the term ‘citizen’;
-Describe how being citizens affects our identity;
-Understand the role and duties of a citizen in the UK
Term 2Personal finance and the economy-Describe how government policies influence personal finance;
-Describe the impact of values held by UK citizens on
personal financial choices
What is income-Define income;
-Describe the difference between money and income
-Understand the different sources and features of income
Term 3How the economic system works-Explain the nature and role of money in society; and
-Describe the different ways in which businesses and other
organisations contribute to the economy of a country
Term 4The economic impact of personal financial choices-Describe how good personal financial choices affect society; and
-Explain how poor personal financial choices affect society
Term 5How inflation and interest rates impact on
personal finance
-Describe the features of inflation;
-Define interest;
-Describe the features of interest; and
-Explain the impact of inflation and interest on investments and loans
Term 6The impact of economic cycles & demographic changes -Outline the short-term and long-term effects of economic cycles; and
-Understand the impact of demographic changes on personal finance

Year 9

TermTopicLearning outcomes
Term 1 Budgeting-Understand what is meant by the term ‘budgeting’;
-Be able to describe the importance of budgeting as part of money management;
-Understand how an individual can manage budgets
What can affect a budget-Explain how external factors can impact on a budget;
-Understand the impact of inflation on the UK economy and personal
budgets;
-Explain the impact of changes in interest rates and exchange rates;
-Calculate the effect of changes to interest rates and exchange rates
Term 2Personal budgets and spending choices-Carry out simple calculations relating to budgets and spending;
-Explain how to use a budget to identify what can be spent now;
-Explain how to cope with unexpected spending needs;
-Outline the impact of personal spending on the economy
The real cost of spending-Explain the term ‘value for money’;
-Explain hidden charges and their effect on purchases;
-Explain the principles of VAT and its relevance to the cost of spending
Term 3Borrowing products-Describe the different reasons for personal borrowing;
-Understand the level of personal debt in the UK;
-Understand how borrowing costs are calculated;
-Explain the main features of borrowing products
Term 4The implications of borrowing-Explain the factors to consider when deciding whether to borrow;
-Calculate borrowing costs;
-Explain the impact of borrowing on a personal budget;
-Describe the impact of borrowing on the economy;
-Describe the impact of payment default from both personal and
societal perspectives
Term 5Enterprise and entrepreneurs-Explain what the term ‘entrepreneur’ means;
-Outline the main skills and behaviours that are needed to be a
successful entrepreneur;
-Describe the importance of these skills for a thriving economy
Term 6People and Business-Describe the impact on a business of individuals’ behaviours;
-Explain how the performance of an individual impacts on customers
and thus on a business;
-Describe the impact of a successful business on individuals