Financial planning/Cost of living /Financial literacy assignment
• In this task students investigate the typical cost of a range of common personal finance items such as electricity, insurance and rent.
• This initial research is subsequently used to underpin an analysis task where they are required to produce a financial report based upon one of five fictional case studies.
• This is a critical and creative thinking activity that requires students to research, compare and contrast various alternatives, determine the best course of action and then justify their decisions with evidence.
• To complete this task, students are required to possess basic research and IT skills (researching on the internet and producing a pie-chart) as well as an awareness of how a range of common household bills are structured.
• The variety and complexity of the case studies varies; therefore, the task is accessible to a range of abilities.
• I have employed this assignment on numerous occasions and it has always been a hit with students, in addition to providing me with an excellent understanding of the strengths and weaknesses of my students.
Included in this task:
• Teaching guide
• Initial investigation task into the cost of living
• 5 alternative case study scenarios
• Editable assessment rubric that can be modified to be used in a database
• Initial research of average expenditures: 1-1.5 hours
• Case study selection: 20 minutes
• Research: 1.5-2 hours
• Time to write report: 1-2 hours
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