16-19 90 - 150 minutes

Planning your finances for the future

This lesson is designed to help students feel more confident in their ability to plan financially for the long term, including mortgages, pensions, savings and borrowing.

Lesson learning outcomes

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

  • Understand some of the costs associated with renting and buying a property
  • Look at how pensions work and why it is important to invest in a pension when you begin work
  • Apply different debt strategies to a range of financial emergencies

Want some more insight into this lesson’s activities? Read on to explore the different ways the activities can support your teaching.

How can this lesson support develop students’ confidence on independent living?

Students will focus on long term saving, budgeting, borrowing and the importance of planning for your financial future, by looking at the considerations needed for independent living. There is the opportunity to discuss renting versus buying and their associated costs, as well as explore schemes for first home buyers and price comparison sites.

This lesson also looks at other long term financial considerations such as savings and different types of accounts, as well as pensions and their benefits.

How can you use this lesson with your students to prepare them for their financial future?

Students will learn about different forms of borrowing for things like buying a house, going to university or making a large purchase, and will improve their understanding of interest and APR.

This lesson will also demonstrate that when dealing with debt, it is important to seek independent advice from someone in a place to help, by taking students through scenarios that feature financial difficulties and asking them to consider what actions they should take. The activities also contain tips on what to consider before borrowing as well as signposting to free, independent debt advice.

Ready to continue teaching young people about the importance of planning their finances with LifeSkills?

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 'Finances in the world of work', 'Managing money and budgeting' and 'Financial survival skills'. 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 PSHE lessons.


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Planning your finances for the future

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Planning your finances for the future: Lesson plan

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Planning your finances for the future: Presentation slides

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