Business & Finance

Students at The Hayfield School have the option to start their Business and Finance education in Year 9.

Some Interesting Facts

  • The UK is the fourth wealthiest country on the planet behind – behind Japan, China and the USA.

  • 9 out of 10 startups will fail. However, what’s surprising is the speed of the failure. Many fail within 120 days, around 3 months after launching.

  • At age 18, all UK residents are expected to start managing their personal finances, usually with no formal education or training.

  • Money is arguably one of the most important ‘life’ resources that we have at our disposal that directly relates to the quality of life we experience. Used correctly, we have the ability to not only change our lives but the lives of many others through the creation of new and innovative business enterprises.

  • We have to learn to be the master of this resource otherwise it will be the master of us.

Curriculum

KS3 - Year 9

By the end of Year 9, all of the students that have competed the Personal Finance curriculum will have achieved the Life Award. The Life (Lessons in Financial Education) Award has been created by The London Institute of Banking and Finance and is an industry recognised qualification.

The Life Award has been developed based on the key areas that, as a minimum, children and young people should know in order to be confident and competent in financial experiences.

Topics include:

Your personal finances:

  • Money
  • Sources of money
  • Storing money safely
  • Spending and budgeting
  • Saving and selling
  • Borrowing
  • What is insurance
  • How do we keep our money safe?

Money management for your generation

  • Modern banking
  • Pay and pay calculations
  • Types of payment card
  • The cost of borrowing
  • Using money abroad
  • Financial difficulties and their consequences
  • Financial advice and protection

Useful Links & Revision Pointers

The following links will be useful in your study of Business, Finance, Marketing and Enterprise:

The Curriculum Team

Mr R Ellison
Teacher of Business Studies
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