Managing Money

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The Welsh Government guidelines for the skills and knowledge children should have in this area are as follows:

Year 7

  • Use profit and loss in buying and selling calculations.
  • Understand the advantages and disadvantages of using bank accounts, including bank cards.
  • Make informed decisions relating to discounts and special offers

Year 8

  • Carry out calculations relating to VAT, saving and borrowing.
  • Appreciate the basic principles of budgeting, saving (including understanding compound interest) and borrowing.

Year 9

  • Calculate using foreign money and exchange rates.
  • Understand the risks involved in different ways of saving and investing.
  • Describe why insurance is important and understand the impact of not being insured.


  • Use and understand efficient methods of calculating compound interest.
  • Understand and demonstrate the real-life process of foreign exchange.
  • Understand and calculate income tax.

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