Finances and the world of work

Entering the world of work brings new financial terms and concepts for young people to understand. The activities on this page include the topics of payslips, working to a budget, and how someone who is self-employed can calculate their tax. 

 Teaching resources:

• Finances and the world of work: Lesson plan and presentation slides – full lesson plan for use with a group of students in the classroom

Lesson plan

(30 - 120 minutes)

This lesson is designed to help students gain the skills and understanding needed to prepare for the workplace, including payslips, budgeting and the difference between being self-employed and an employee. 

By the end of the lesson, students will be able to:

• Identify and check the information provided on a payslip
• Demonstrate how to plan a workplace event within a given budget
• Calculate income, expenditure, tax and National Insurance for someone who is self-employed

Further support for developing financial capability in your students

Students can gradually improve these skills in a variety of ways – including by talking to those around them. Follow this lesson with further money skills lessons for this age group, which cover 'Planning your finances for the future' and 'Managing money and budgeting'. You’ll also find another interactive worksheet and an online lesson film alongside the 'Financial survival skills' lesson. Why not build financial capability as a focus in your students’ curriculum? Refer to our Content guide to find out how this LifeSkills resource can be used in lessons.