Mr Tarn - Economics
  • Home Page
  • A-LEVEL ECONOMICS
    • Individuals, Firms, Markets & Market Failure >
      • Economic Methodology & The Economic Problem >
        • Economic Methodology
        • Economic Objectives
        • Economic Resources
        • Production Possibility Diagrams
      • Price Determination in a Competitive Market >
        • The Determinants of the Demand for Goods and Services
        • The Determinants of the Supply for Goods and Services
        • The Determinantion of Equilibrium Market Prices
  • Forum

MONEY: Choosing to Save

Previous Topic                                                                                                 Next Topic

Picture

What you need to know...

  • You should understand why people save and be aware of the main methods available, e.g. using banks, building societies and National Savings. You are only required to have a basic understanding of shares and unit trusts and the working of the stock market.
  • You should be able to recommend suitable methods of saving and other financial products for different situations and justify their recommendations, appreciating the risks and rewards of each method.
  • You should know the difference between net and gross interest and understand the meaning of the Annual Equivalent Rate (AER).

Lesson Resources

choosing_to_save.ppsx
File Size: 204 kb
File Type: ppsx
Download File

saving_and_borrowing_factsheet.pdf
File Size: 216 kb
File Type: pdf
Download File

saving_options.pdf
File Size: 1061 kb
File Type: pdf
Download File

risk_and_rewards.pdf
File Size: 307 kb
File Type: pdf
Download File

- Here's a useful link to help you understand the difference between gross and net interest
- ISA allowances are changing from 6 April 2012. From that date:
  • The annual ISA investment allowance will be raised to £11,280. Up to £5,640 of that allowance can be saved in a cash ISA. The remainder of the £11,280 can be invested in a stocks and shares ISA with either the same or a different provider.

- Cash ISA: Questions and Answer video (see below)
 - Pensions are a method of saving for the future (see video below)

Stretch & Challenge

Picture
- How would a financially capable person plan for their retirement?

- What savings and/or investment products would you recommend to them?

- Complete some independent research and summarise your recommendations using the Blogging Forum

Powered by
✕