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Managing Money for Real

KS3 Money & Financial Literacy · Ages 11–14

Understand income and deductions, build a budget, learn how banks and interest work, and avoid scams.

Name: Date:

Gross vs Net Pay

🦜 Rosie: "Gross pay is before deductions; net (take-home) is after tax and National Insurance." Work it out.

Gross £1,200 − deductions £240 = net £

One thing deductions pay for (e.g. NHS, schools):

🦔 Gary: "Income minus outgoings = what's left to save." Income £600.

Needs (rent, food, transport): £

Wants: £

Left to save: £

🦎 Elvis: "Savings can earn interest; borrowing usually costs interest." Try simple interest.

£100 saved at 5% for one year earns £ interest.

Borrowing £100 at 20% for a year costs £ in interest.

Which direction do you want interest to go?

🦜 Rosie: "Some borrowing is planned (like a mortgage); some can trap you (like high-interest loans)." Tick wise habits.

🧾 Only borrow what I can repay 🔍 Check the interest rate (APR) ⏰ Pay on time to avoid extra charges 🙋 Ask for help early if I struggle

🦔 Gary: "If it seems too good to be true, it probably is." Choose the red flags.

Guaranteed big returns

Pay a fee to "unlock" winnings

Urgent pressure

Asks for PIN/passwords

If I'm unsure about money online, I'll:

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Great work, !

You worked out net pay, built a budget, understood interest and debt, and learned to spot scams. 💰

Signed by Rosie 🦜, Gary 🦔 and Elvis 🦎 · Date: