2. Risk and Reward: Money’s a risky business! In the next two lessons we shall ask: Money- is it important or not? What are the ways to capture money? What is Credit and why is this risky? What is high and low risk? Why can we end up in trouble – like debt or gambling if we’re not careful? Tutors – please play this song as students enter: http://www.youtube.com/watch?v=KbVHbEGerRA

3. Name as many songs or rhymes you can come up with about money! Did you get any of these? Sing a song of six pence, a pocket full of rye!!! Money, money, money in a rich man’s world! ABBA Money’s too tight to mention – (Simply Red) Price tag (Jessie J) And of course I need a dollar (Aloe Blacc) TUTORS – this time just play 30 seconds of it http://www.youtube.com/watch?v=nFZP8zQ5kzk&feature=fvst OR you could use this countdown timer (choose the music!) http://www.classtools.net/education-games-php/timer You’ve got 30 seconds – go!!!

4. So why is money so important? Why are there so many songs referring to it?! Basics – without money you can’t survive for long in our MEDC (more economically developed country) e.g. UK. But do we need to spend as much as we do?

5. Oh dear! We’re spending crazy  The UK is turning into a zone of ‘spendaholics!’ Why? Why are we spending beyond our means? Why aren’t we being a bit more careful with our cash?!

6. Did you know?! The British public borrowed £46.7 billion in 2009 alone.

7. Did you know?! In 2011 we have debt bombshell… http://www.debtbombshell.com/ The UK is in debt by over £900 billion with forecasts it may hit £1.1 trillion in late 2011 / 2012

8. Read the article on: Shopping Addiction & Men are shopaholics too! (In your workbooks)

9. Have a go at answering the following questions… Title: Shopping Addiction: 1.What is compulsive shopping? 2.How common is it? 3.What are the signs you’ve got it? 4.How can it be cured? 5.What is the common expression for it… CBD? Not central business district! 6.What is binge buying?

10. How can you make money Bruce? Bruce: You need regular earnings aka: Income Bob: Right so I need INCOME… Bruce: That’s right, you then need to invest that INCOME.. Bob: What does invest mean? Bruce: You don’t spend it, you put it somewhere safe like a bank account and have it that there for a rainy day! Bob: What if I want to make more on that investment, and I don’t just want the same amount back, but more!! Bruce: Well you can invest it in different ways.. Bob: Tell me more (rubs his hands together!)

11. How can you make money? Make a list of 5 ways… Work Save Invest Inherit Win the lottery (unlikely!!) What ways are there to increase the return on your money: Invest in a property (carefully seek a good investment) Put in savings account with high interest rate Put in bank – lower interest rate, so not make as much Put on the stocks and shares – bit of a gamble Put on the horses – BIG GAMBLE – not a good plan 

12. But you don’t want to invest, you just wanna spend spend spend… Here comes Mr or Mrs. Visa Card… This is a credit card… What does it allow you to do? That’s right, buy your goods now and pay later.. Excellent I hear you say, but not so good really... you pay back with INTEREST!!

13. Watch out – credit cards look almost identical to debit cards … but they are very different things! Debit cards are linked directly to your bank account. You can use them to buy goods or withdraw cash and the amount is taken from your account right away. You may be offered a debit card by a bank if you are over the age of 16 and have an account with them. Under 16s are allowed to use a cashcard which is attached to their account. Although there are more controls on this type of card. A credit card is a form of borrowing Credit cards allow you to 'buy goods now and pay later' – called 'buying on credit'. They aren't linked to your bank account. If you take cash out with a credit card you're charged daily interest from the moment you take out the cash until the credit card bill is paid in full. This is an expensive way of borrowing money. A debit card will always say what it is!

14. Mr and Mrs Visa Card have just posted their monthly bill and those fab Nike trainers and new bike have got to be paid for… OH NO!!! HELP!!! If I don’t pay it all off in one go, then the remaining amount plus interest is charged… If I still don’t pay it all off next month, or the next month, then you can see I shall get into a right old pickle and end up with a heap of debt!!! This is when people get themselves in trouble – spending beyond their means!!

15. What might we start to do then to try and pay off that credit card debt? Do more work and get more money in Go and gamble some on the gee gees and oh dear, then lose more!! Try now to explain and answer this question in just a minute!!! ‘How are credit and gambling interlinked?’

16. Who is there to help give advice when people get in money difficulties? Citizens advice bureau Bankruptcy helpline Banks themselves Consumer credit counselling service

17. & finally… What does Mr. Money have to say about Money in the world? Read the drama script in your booklet, showing a conversation between a presenter and Mr. Money. See if you can find out what the hidden message is behind the play. What is this telling you about money around the world?