# Money Management Work Scheme

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Money Management Scheme of Work (Pilot)
A suggested work scheme for this Foundation (Level 1) FSMQ is given below. This recommends a total of 60 guided learning hours (e.g. 2 hours per week for 30 weeks,
4 hours per week for 15 weeks, 5 hours per week for 12 weeks). There is plenty of scope for varying the order and time allocation as many of the mathematical techniques can be
covered in several different topic areas. Some techniques should be introduced as soon as possible and used throughout the course. These include:
 money calculations (+, –,  ,  with and without a calculator) rounding values as appropriate (e.g. nearest pence, pound, £100 etc)
 checking calculations using estimates, inverse operations and different methods (e.g. arriving at a total in different ways)
 using tables to record results
 using spreadsheets to carry out calculations and display results in tables and statistical charts and graphs.

The scheme of work below divides the content into topic areas which reflect the Coursework Portfolio requirements which can be found on pages 37 & 38 of the specification.
Allow about 12 hours in total for portfolio work.

Topic Area       Content                                                         Nuffield Resources
Best Buys        Use decimals to make comparisons (putting in order of           Best Buys Examples and worksheet.
(6 hours)        size). Select the best buy in a range of contexts.              Party Time (assignment) Use on-line shopping to find best buys and cost a party. Optional use
Convert between fractions, decimals and %.                      of spreadsheet
Use % to make comparisons.                                      Fractions, Decimals and %
Express two quantities as a ratio, divide a quantity in a       Slideshow shows the relationship between fractions, decimals and percentages. Follow me
given ratio and use ratios to make comparisons.                 game and worksheets provide practice.
(May also require conversion of units e.g. kg to g, litres to   Best Buy (assignment) Assignment with structured section on best buys followed by an
ml)                                                             extension that gives students the opportunity of working independently.

Ratio Bingo & Matching Cards (skills activity)
Activities that give learners practice in simplifying ratios.

Currency         Use British coins and notes to make amounts and give            Convert Currency (skills activity)
(2 hours)        change.                                                         Interactive spreadsheet for practice in converting between £ and euros and £ and dollars
Use exchange rates to convert amounts between
currencies.
Order Forms      Read and use information given in tables.                       Find % (skills activity) Find % without a calculator and on a spreadsheet.
(5 hours)        Express one quantity as a fraction of another (in its           Work out VAT Find VAT without a calculator and on a spreadsheet.
simplest terms).
Have a Holiday (assignment)
Express one quantity as a % of another.
Data sheet giving information about holiday costs, assignment and sample exam questions.
Calculations involving finding % of quantities (e.g.
discounts, VAT)
Ordering from a Catalogue (assignment)
Students choose furniture for a bedroom and complete an order form.
Also includes use of a scale diagram to cover some of the other portfolio requirements for
Application of Number at Level 1.
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   The Nuffield Foundation                                                                             1

Topic Area       Content                                                         Nuffield Resources
Bills and        Calculations involving finding fractions and % of               Mobile Phone tariffs
Invoices         quantities                                                      Enter values onto spreadsheet, explain calculations then choose the most suitable tariff.
(6 hours)        (e.g. discounts, VAT)
Checking Methods (skills activity) superseded by newer resources
Use pictograms, pie charts and bar charts to illustrate costs
Bills to check using a range of methods.
in different categories (drawn by hand and/or spreadsheet).
Calculating VAT (skills activity)
Worksheet to give students practice with working out 5% VAT on fuel bills.
Electricity Bill (skills activity) superseded by newer resources
Table giving information and a bill to check.
Bills (assignment)
Simulated bills, exercise, sample exam questions and assignment. Includes use of a
Invoices
Explain & check calculations. Includes use of a spreadsheet.

Savings          Read and use information given in tables (leaflets from         Interest Rates (skills activity) Very out-of-date
(6 hours)        banks, building societies etc)                                  Includes a table of interest rates. Students compare compound and simple interest.
Calculate increases and decreases given a starting value        Savings & Interest
and the % rate (using AER – annualised equivalent rate).        Worksheet to give students practice with working out interest and amounts in accounts
Calculate new values given a starting value and the % rate.     after 1 year.
Calculate simple interest over a single time period.            Simple & Compound Interest
Calculate interest compounded over at least 2 time periods.     Spreadsheet giving examples and practice. Separate spreadsheet gives answers.

Earning Interest (assignment)
Use information from the internet to investigate the interest earned on an inheritance in
different savings accounts. Optional use of spreadsheet.

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   The Nuffield Foundation                                                                            2

Topic Area       Content                                                       Nuffield Resources
Money            Calculations involving finding fractions and % of             Sale (skills activity)
Increases and    quantities                                                    Students use a spreadsheet to work out sale prices and check their results.
Decreases        (e.g. sale reductions, profits mark-up, wage increases,       Pay and Overtime
(7 hours)        taxation)                                                     For giving students practice in working out overtime rates.
Calculate new values given a starting value and the % rate.   Percentages (skills activity) incorporated into another item
Use tables to record values.                                  Powerpoint presentation shows the relationship between fractions, decimals and
Use spreadsheets to calculate and record values.              percentages. Worksheet and spreadsheet give practice with percentages in contexts
involving money.
Firefighters’ Pay (skills activity) Students compare rises of 11%, 16% and 40% in the
annual pay of 4 different ranks of firefighters and the difference this might make to a
fireman’s savings.

Recording        Credits, debits and running totals, using both positive and   Student Budget (skills activity)
Financial        negative numbers.                                             A spreadsheet showing a student’s bank balance over a term and a worksheet based on it.
Transactions     Drawing line graph by hand to show how balance varies
(7 hours)        over time.
Car Costs (assignment)
Writing one quantity as a fraction or % of another.
Assignment and sample exam questions supported by three data sheets. Assignment
Use a spreadsheet to carry out and record financial
requires use of a spreadsheet to keep an account of the cost of running a car.
calculations (including the use of negative numbers).
Classify transactions (eg debits) into different categories   Create a Bank Statement (skills activity)
(using tally charts).                                         Sheet of transactions to put in order to create a bank statement.
Illustrate results on a spreadsheet with pie charts, bar      Bank Balance
charts and line graphs (using the scatter graph facility)     Game in which learners enter items onto bank balance statements and calculate the resulting
balances.
Spot the Errors (skills activity)
Simulated invoice, phone bill and bank statement for learners to check (several errors on
each). Also provided with spaces for students to complete.
Bank Statement (assignment)
Create and analyse a spreadsheet to show income and expenditure.
Timetables       Read and use timetables given in 24 and 12 hour clock         Day Out (skills activity)
(3 hours)        Find the length of time of journeys.                          Students plan a day out using local rail timetables.
Every Second Counts (AMP)
Learners use maps & timetables to find how far they could travel in 1 hour.
Revision         Revise topics and try past papers.                            Bills, Have a Holiday and
(6 hours)        Discuss Data Sheet – make up and try questions based          Car Costs include some sample exam questions.
on it.                                                        Managing Money Revision Guide

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   The Nuffield Foundation                                                                          3

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