2. Today we will talk about… Basic Budgeting To spend or not to spend? Opening a Bank Account Tackling Money Problems

3. What is income?

4. What is expenditure?

5. To Spend or Not to Spend?

6. Can you guess what the average adult debt currently is in the UK? (not including mortgages).

7. Ways to borrow money

8. Storecard Typical interest rate Minimum payment Total interest cost Total amount repayable Time taken to clear debt John Lewis Account 13.00%£5 or 5%£38.21£238.213 years 3 months M&S Money Store 18.90%£5 or 3%£94.21£294.214 years 8 months B&Q You Can Do It 26.80%£4 or 4%£139.80£339.805 years 8 months House of Fraser Recognition 29.30%£4 or 4%£163.42£363.426 years 1 month Debenhams Account 29.90%£4 or 4%£169.61£369.616 years 2 months Topshop Privilege 29.90%£4 or 4%£169.61£369.616 years 2 months Argos Store25.90%£2 or 3%£284.79£484.7913 years Homebase Account 25.90%£2 or 3%£284.79£484.7913 years Source: thisismoney.co.uk

9. Opening a Bank Account

10. Current Accounts allow you to: * withdraw money from a cash machine * transfer money to other accounts * earn interest on the money that you have * set up standing orders and direct debits Consider: * when do you need access to your money? * do you want to save money? * do you need a cash card/cheque book? * how would you like to access information about your account?

11. Problems With Money When your expenditure is more than your income you are in trouble. If you find yourself in this situation – don’t bury your head in the sand!

12. Ask for advice from:

13. Today we have talked about… Basic budgeting To spend or not to spend? Opening a Bank Account Problems with Money Just remember: your income should be more than your expenditure.