Financial Studies
Subject Leader: Mr G Gartside
Subject Leader Email Address: gareth.gartside@swale.at
Do not save what is left after spending, but spend what is left after saving.
WARREN BUFFET
Subject overview
Did you know that 71% of young people worry about money? Being able to offer finance as a subject for students here at The Sittingbourne School goes a long way to hopefully addressing this matter.
By providing them with future financial capability guidance through our programmes, students gain help understanding the practicalities of managing money, both day-to-day and for the long term. This is what this set of finance courses provides. The help of the London Institute of Banking Finance enables our teachers to deliver finance subjects in the right context, and with the right tools and materials.
A course that not only instils the knowledge and confidence needed for our students to make informed financial decisions in the future, it is also a programme that potentially offers students the chance to be part of the next generation of finance and banking professionals.
Sixth Form Year 12
Why study the Certificate in Financial Studies?
As an Applied General qualification, the Certificate in Financial Studies (CeFS) is primarily designed for students aged 16–19 and provides a comprehensive introduction to personal finance. Its purpose is to prepare students for further study through the development of the core skills of critical analysis and evaluation, synthesis, verbal communication (through classroom discussion) and written communication. The CeFS develops the knowledge and skills required for young people to make informed financial decisions by introducing them to the risks and challenges involved in personal finance and the tools for effective planning. Within this, it provides a solid basis for creating financial inclusion, by exploring social-economic trends and their relationship with an individual’s circumstances and attitudes.
Term 1 and 2
The objective of the CeFS is to enable students to make informed and confident decisions regarding their finances.
Topic content
• Importance of financial capability in the immediate, short, medium and long term.
• Financial services and products, including sources of help and advice.
• Borrowing, budgeting, financial planning and cash flow forecasting.
• The impact of external influences at different stages in the personal life cycle.
• Risk and reward in managing personal finance.
Enquiry Questions:
UNIT 1 - Financial Capability for the Immediate and Short Term
- What is the purpose of money?
- What is the personal life cycle?
- What are different payment methods?
- What is everyday banking?
- What saving products are there?
- What are the different types of borrowing?
- What are the different types of financial providers within the industry?
- What is meant by consumer protection?
- What is the best way of budgeting and forecasting for personal finance?
- What are the different financial ways of dealing with unexpected events?
- What is the best way of dealing with debt?
- How does actually earning money impact you, the learner, moving forward?
Term 2
Enquiry Questions:
UNIT 1 - Financial Capability for the Immediate and Short Term
- What is the purpose of money?
- What is the personal life cycle?
- What are different payment methods?
- What is everyday banking?
- What saving products are there?
- What are the different types of borrowing?
- What are the different types of financial providers within the industry?
- What is meant by consumer protection?
- What is the best way of budgeting and forecasting for personal finance?
- What are the different financial ways of dealing with unexpected events?
- What is the best way of dealing with debt?
- How does actually earning money impact you, the learner, moving forward?
Term 3:
Enquiry Questions:
UNIT 1 - Financial Capability for the Immediate and Short Term
- What is the purpose of money?
- What is the personal life cycle?
- What are different payment methods?
- What is everyday banking?
- What saving products are there?
- What are the different types of borrowing?
- What are the different types of financial providers within the industry?
- What is meant by consumer protection?
- What is the best way of budgeting and forecasting for personal finance?
- What are the different financial ways of dealing with unexpected events?
- What is the best way of dealing with debt?
- How does actually earning money impact you, the learner, moving forward?
Term 4:
Enquiry Questions:
UNIT 2 - Financial Capability for the Medium and Long Term
- Why are needs, wants and aspirations important to understand?
- How do you best save and invest?
- What is the best way of using borrowing products?
- What are the best ways of dealing with long term risks?
- What is the best way of financial planning for the future?
- What is the best way of financial planning and making informed choices?
- What is the best way of dealing with unforeseen events?
- How do ethics and sustainability impact upon the financial industry?
- Where are the best places to gain sources of information and advice?
- What is the best way of making informed choices when it comes to making informed choices?
Term 5:
Enquiry Questions:
UNIT 1 - Financial Capability for the Immediate and Short Term
- What is the purpose of money?
- What is the personal life cycle?
- What are different payment methods?
- What is everyday banking?
- What saving products are there?
- What are the different types of borrowing?
- What are the different types of financial providers within the industry?
- What is meant by consumer protection?
- What is the best way of budgeting and forecasting for personal finance?
- What are the different financial ways of dealing with unexpected events?
- What is the best way of dealing with debt?
- How does actually earning money impact you, the learner, moving forward?
Term 6:
Enquiry Questions:
UNIT 1 - Financial Capability for the Immediate and Short Term
- What is the purpose of money?
- What is the personal life cycle?
- What are different payment methods?
- What is everyday banking?
- What saving products are there?
- What are the different types of borrowing?
- What are the different types of financial providers within the industry?
- What is meant by consumer protection?
- What is the best way of budgeting and forecasting for personal finance?
- What are the different financial ways of dealing with unexpected events?
- What is the best way of dealing with debt?
- How does actually earning money impact you, the learner, moving forward?
Sixth Form Year 13
Why study the Diploma in Financial Studies?
As an Applied General qualification, the Diploma in Financial Studies (DipFS) is primarily designed for students aged 16–19 and provides an in-depth exploration of the key concepts of financial capability and how they are applied to achieve longer-term financial sustainability. Its purpose is to prepare students for further study through the development of the core skills of independent thinking, critical analysis and evaluation, synthesis, verbal communication (through classroom discussion) and written communication. The DipFS builds on the skills and knowledge acquired through successful completion of the Certificate in Financial Studies and extends this to include areas such as financial sustainability within the wider financial services system, and the long-term impact of debt. Within the DipFS the student explores the political, economic, social, technological, ethical and legal impacts of personal finance in the short, medium and longer terms. Through this, a greater understanding of the impact that global events can have upon consumers and the wider financial services industry is developed. The DipFS therefore enhances the ability to make informed financial decisions through effective planning to manage the risks and challenges involved in personal finance.
Term 1 and 2
Topic content
• Importance of financial capability in the immediate, short, medium and long term.
• The impact of external influences at different stages in the personal life cycle.
• Risk and reward in managing personal finance.
• Personal and external factors that lead to change.
• Maintaining financial sustainability and avoiding long-term debt.
• The financial services system and financial sustainability (individual and general).
• Marketing techniques.
Enquiry Questions:
UNIT 3 - Sustainability of an Individual's Finances
- What does financial sustainability look like in the real world?
- What are the key external factors that people need to consider within their personal finances?
- What are the ways of developing personal budgets for the real world?
- What are the personal implications of debt in the real world?
- What are the global considerations that you need to consider with regards to your personal finances?
- How has the financial industry changed over the last 30, 20 & 10 years?
Term 2:
Enquiry Questions:
UNIT 3 - Sustainability of an Individual's Finances
- What does financial sustainability look like in the real world?
- What are the key external factors that people need to consider within their personal finances?
- What are the ways of developing personal budgets for the real world?
- What are the personal implications of debt in the real world?
- What are the global considerations that you need to consider with regards to your personal finances?
- How has the financial industry changed over the last 30, 20 & 10 years?
Term 3:
Enquiry Questions:
UNIT 3 - Sustainability of an Individual's Finances
- What does financial sustainability look like in the real world?
- What are the key external factors that people need to consider within their personal finances?
- What are the ways of developing personal budgets for the real world?
- What are the personal implications of debt in the real world?
- What are the global considerations that you need to consider with regards to your personal finances?
- How has the financial industry changed over the last 30, 20 & 10 years?
Term 4:
Enquiry Questions:
UNIT 4 - Sustainability of Financial Services System
- How do financial services provide work?
- How sustainable are financial services and providers?
- What are the influences within the external environment of the financial industry?
- What are the different recruitment and retention methods that are used in the financial industries?
- How are market segmentation and product development developed within the financial industry?
Term 5:
Enquiry Questions:
UNIT 4 - Sustainability of Financial Services System
- How do financial services provide work?
- How sustainable are financial services and providers?
- What are the influences within the external environment of the financial industry?
- What are the different recruitment and retention methods that are used in the financial industries?
- How are market segmentation and product development developed within the financial industry?
Term 6:
Enquiry Questions:
UNIT 4 - Sustainability of Financial Services System
- How do financial services provide work?
- How sustainable are financial services and providers?
- What are the influences within the external environment of the financial industry?
- What are the different recruitment and retention methods that are used in the financial industries?
- How are market segmentation and product development developed within the financial industry?
Depending upon how the students do will depend upon whether the students have to retake their Unit 4 exam.