SHS1 Social Studies · Semester 2 Week 16: Financial Literacy

Lesson notes

Learning Objectives

Indicator: 1.6.4.LI.2 - Examine strategies for ensuring financial security

By the end of the lesson, learners can:

State at least five strategies that individuals and households can use to ensure financial security.
Explain how budgeting helps a person live within their means and plan for the future.
Differentiate between needs and wants, and demonstrate how this distinction guides spending decisions.
Analyse how impulse buying and lack of financial planning undermine personal financial security.
Evaluate a sample household income and propose a spending plan that includes saving, using the 50/30/20 rule.

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Curriculum details

Strand: Production, Exchange and Creativity (Strand 6)
Sub-strand: Financial Literacy (6.4)
Content standard: 1.6.4.CS.1 - Demonstrate understanding of the need to be financially literate and apply it in establishing a secure personal and public financial security 1.6.4.LO.1 Examine the concept of financial literacy and efficient ways of using individual and public finances and managing individual finances in ways that can ensure financial security
Indicator: 1.6.4.LI.2 - Examine strategies for ensuring financial security
Suggested placement: Semester 2, Week 16 (Week 36 of the year)
Our suggestion, laid out in curriculum order across three terms of twelve weeks. NaCCA does not fix the week, so follow your school's scheme of learning.
Curriculum reference: NaCCA curriculum document, p. 48

Exemplars (from the NaCCA curriculum)

Problem-Based Learning: Learners research and discuss strategies (budgeting, avoiding impulse buying, saving, etc.) to ensure financial security
Collaborative learning: In small groups, learners discuss how lack of financial planning affects individual financial security
Teaching and Learning Resources:
- Stationery
- Smartphone/Tablets
- YEAR TWO
- Computers/ laptops
- Internet access
- Standard textbooks
- Resource person
Assessment (1.6.4.AS.2). The document marks these depth-of-knowledge levels for this indicator: Level 2 Skills of conceptual understanding; Level 3 Strategic reasoning.