KS5: Financial Foundations
HIP offers practical and current advice to manage and save money
Our HIP workshop focusing on managing money/budgeting will explore the ‘Needs’ and ‘Wants’ regarding expenditures and develop awareness of cost associated with their needs and wants.
Students will develop an insight into Student loans & offering efficient and effective tools to manage their budget on a monthly basis through user friendly Apps such as Monefy & Revolut.
HIP offers practical and current advice to manage and save money in relation to food, socialising, shopping etc. & dicusses the many benefits associated with part time jobs.
Themes of The Workshop
What will be your outgoings?
Needs: Rent, Utilities, Food, Transport, Phone
Wants: Socialising, Eating out, Gym, Clothes, Holidays
Students will develop an understanding of what their “Needs” and “Wants” are and the cost associated with these on a monthly basis.
Student Loan
Tuition fee loan – £4710
Maintenance Loan – £6776 – £753 a month
Students will gain an insight into Student Finance NI & develop an awareness of what student loan is available to them, based on their individual circumstances. HIP will facilitate the break down of this loan into monthly sections.
App to budget on a monthly basis
These user friendly Apps are an effective method of helping students manage their money on a monthly basis. They will have a clear visual of their necessity expenditures and therefore be aware of what money they can allocate to their wants, such as socialising.
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| Monefy App | Revolut App |
Tips to manage money
HIP will provide a range of tips and advice to help students manage their money:
Students will learn practical ways to manage their money, including understanding bursaries and scholarships, budgeting for food, saving when socialising and shopping, and making the most of part-time work.
Debit Versus Credit Cards
Students will learn the difference between debit and credit cards, how each one works, and when best to use them
What is Interest? (APR)
Students will also understand the risks and benefits of borrowing money.
They will learn about how interest rates as APR (Annual Percentage Rate) can increase the amount you have to repay if you do not pay on time.
Book This Workshop
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