Preparing Lifelong Learning Personal Finance:.  Personal Finance word search.

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<ul><li> Slide 1 </li> <li> Preparing Lifelong Learning Personal Finance: </li> <li> Slide 2 </li> <li> Personal Finance word search </li> <li> Slide 3 </li> <li> To explore the difference between gross and net income To examine the cost of living </li> <li> Slide 4 </li> <li> Your wage every month is your Gross Income From your wage you will need to make income tax contributions usually between 20% and 50%. You will also need to pay National Insurance. Why? After these deductions you will have a Net Income. </li> <li> Slide 5 </li> <li> You earn 20,000 If income tax is 22% work out your net income. Build a spider diagram with what type of monthly bills you may have. </li> <li> Slide 6 </li> <li> You buy a car for 5000 at 7% interest. How much will you pay back in total? How much will you pay per month? What costs does running a car have? </li> <li> Slide 7 </li> <li> Make a table showing what living expenses you have and how much you think they are roughly each month. How much of your net income do you have left? Make a pie chart showing your monthly expenditure. </li> <li> Slide 8 </li> <li> These loans are becoming more and more popular. Why? What do you think the interest on these loans are? Read the article and summarise what has happened to each person Discuss </li> <li> Slide 9 </li> <li> What does net income mean? Name three things you would have to pay for every month What do some people do if they cant afford their monthly bills? Why is this dangerous? </li> </ul>


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