Money choices
Needs, wants, saving, budgets, trade-offs and delayed gratification.
Learning progression by age
| Age band | Core knowledge | Classroom outcome | Best resources | Assessment evidence |
|---|---|---|---|---|
| Ages 5-7 | Coins, value, needs, wants, saving patience. | Pupil can sort a simple choice and explain one reason. | Money Basics pack, Coin Spotter, Need or Want, worksheet. | Uses words like need, want, save, wait, cost. |
| Ages 8-9 | Budgeting, trade-offs, goals and opportunity cost. | Pupil can build a small plan and defend a choice. | Money Explorer pack, budget game, printable goal sheet. | Explains what they gave up and why the trade-off was sensible. |
| Ages 10-13 | Earning, simple tax, risk, reward, saving versus investing. | Pupil can separate cash, spending, saving and investing language. | Money and Tax Basics pack, tax vocabulary, risk prompts. | Can define tax, income, interest, investing and risk in plain English. |
| Ages 14-16 | Payslips, net pay, borrowing, fraud, tax drag and decision quality. | Pupil can read a basic payslip and spot one avoidable money risk. | Real-World Money pack, payslip activity, fraud discussion prompts. | Can explain gross versus net and identify a risk control. |
| Ages 16-18+ | ISAs, LISAs, pensions, debt payoff, tax wrappers and long horizons. | Learner can compare flexibility, bonus, access and risk for one goal. | Adult Money pack, calculator bridge, LISA/ISA/pension scenario. | Writes a justified trade-off rather than naming a single perfect product. |
Teaching principle. The goal is not to turn children into investors. It is to give them the vocabulary and confidence to ask better questions before real adult decisions arrive.
Knowledge strands
Work and tax
Income, payslips, National Insurance, tax codes, net pay and why deductions exist.
Risk and protection
Debt, fraud, scams, emergency funds and the difference between risk and recklessness.
Investing language
Shares, bonds, funds, diversification, volatility, fees and time horizon.
Wrappers and goals
ISA, LISA, pension, access, bonuses, tax sheltering and goal matching.
Decision quality
Using assumptions, showing workings, checking sources and avoiding headline-only thinking.