Be Moneysmart (Module 4): Debt management

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Year level 9-VET Young adults Economics and business Mathematics Work Studies

Launch digiactivity

Students compare debt products, learn to manage credit cards and find out what to do if debt becomes a problem.

Learning outcomes

Students:

Students work through Module 4 online and explore issues related to debt management using three case studies (Sally, Bec and Will) and some activities from the Student Workbook. The case studies touch on a variety of debt positions and problems and facilitate an appreciation amongst students of the importance in managing debt.

Curriculum alignment

Year 9

Learning area: Mathematics

Content descriptions

Strand: Number and Algebra

  • Money and financial mathematics
    • Solve problems involving simple interest (ACMNA211)

Learning area: Economics and Business

Content descriptions

Strand: Knowledge and Understanding

  • Why and how people manage financial risks and rewards in the current Australian and global financial landscape (ACHEK040)

Strand: Economics and Business Skills

  • Sub-strand: Questioning and research
    • Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES044)
  • Sub-strand: Interpretation and analysis
    • Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES045)
  • Sub-strand: Economic reasoning , decision-making and application
    • Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES046)
    • Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES047)
  • Sub-strand: Communication and reflection
    • Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES048)
    • Reflect on the intended and unintended consequences of economic and business decisions (ACHES049)

Learning area: Work Studies

Content descriptions

Strand: Skills for learning and work

  • Sub-strand: Learning to learn
    • Plan and implement strategies and processes to improve their learning and enhance the potential to realise their aspirations and personal wellbeing (ACWSCL005)

Strand: Career and life design skills

  • Sub-strand: Career development and management
    • Recognise the importance of self-awareness in career and life design (ACWSCL013)

Year 10

Learning area: Mathematics

Content descriptions

Strand: Number and Algebra

  • Money and financial mathematics
    • Connect the compound interest formula to repeated applications of simple interest using appropriate digital technologies (ACMNA229)

Learning area: Economics and Business

Content descriptions

Strand: Knowledge and Understanding

  • Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053)

Strand: Economics and Business Skills

  • Sub-strand: Questioning and research
    • Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES056)
  • Sub-strand: Interpretation and analysis
    • Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES057)
  • Sub-strand: Economic reasoning, decision-making and application
    • Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES058)
    • Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES059)
  • Sub-strand: Communication and reflection
    • Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES060)
    • Reflect on the intended and unintended consequences of economic and business decisions (ACHES061)

Learning area: Work Studies

Content descriptions

Strand: Skills for learning and work

  • Sub-strand: Learning to learn
    • Focus their learning strategies on personal and work-related aspirations (ACWSCL024)

General capabilities

Level 6: Typically, by the end of Year 10, students:

  • Literacy:
    • navigate, read and view a wide range of more demanding subject- specific texts with an extensive range of graphic representations
    • listen to a range of extended spoken and audio texts and respond to, interpret and evaluate ideas, information and opinions
    • interpret and evaluate information within and between texts, comparing and contrasting information using comprehension strategies
    • use comprehensive knowledge of the structure and features of learning area texts to comprehend and compose complex texts in innovative ways, using conventions for citing others
  • Numeracy:
    • solve and model problems involving complex data by estimating and calculating using a variety of efficient mental, written and digital strategies
    • evaluate financial plans to support specific financial goals
    • solve problems involving fractions, decimals, percentages, ratios and rates
  • ICT:
    • use advanced search tools and techniques or simulations and digital models to locate or generate precise data and information that supports the development of new understandings
    • select and use ICT to articulate ideas and concepts, and plan the development of complex solutions
    • select and use a range of ICT tools efficiently and safely to share and exchange information, and to collaboratively and purposefully construct knowledge
  • Critical and Creative Thinking:
    • clarify complex information and ideas drawn from a range of sources
    • assess risks and explain contingencies, taking account of a range of perspectives, when seeking solutions and putting complex ideas into action
    • identify, plan and justify transference of knowledge to new contexts
    • analyse reasoning used in finding and applying solutions, and in choice of resources
    • evaluate the effectiveness of ideas, products and performances and implement courses of action to achieve desired outcomes against criteria they have identified
    • use logical and abstract thinking to analyse and synthesise complex information to inform a course of action
  • Personal and Social Capability:
    • assess their strengths and challenges and devise personally appropriate strategies to achieve future success
    • establish personal priorities, manage resources effectively and demonstrate initiative to achieve personal goals and learning outcomes
    • develop and apply criteria to evaluate the outcomes of individual and group decisions and analyse the consequences of their decision making