Instructions
Read through each section and complete the activities. You'll learn to identify British money, explore currencies from around the world, and think about how to manage your own money through budgeting.
Part 1: Know Your Pounds and Pence
In the United Kingdom, the currency is called Pound Sterling (£). Each pound is made up of 100 pence (p). Let's look at the different coins and banknotes currently in circulation. Can you identify them from their descriptions?
Activity: Write the correct value (e.g., 2p, £1, £20) in the "Value" column for each coin and banknote described.
| Description | Value |
|---|---|
| A small, round, copper-coloured coin. The smallest value. | |
| A small, round, silver-coloured coin. | |
| A seven-sided, silver-coloured coin. Larger than the other seven-sided coin. | |
| A large, round, bi-metallic coin with a silver-coloured outer ring and a gold-coloured inner circle. | |
| An orange-coloured polymer banknote featuring the author Jane Austen on the back. | |
| A purple-coloured polymer banknote featuring the artist J.M.W. Turner on the back. | |
| A 12-sided, bi-metallic coin with a gold-coloured outer ring and a silver-coloured inner circle. | |
| A red-coloured polymer banknote featuring the scientist Alan Turing on the back. | |
| A seven-sided, silver-coloured coin. Smaller than the 50p. | |
| A blue-green coloured polymer banknote featuring the former Prime Minister Winston Churchill on the back. |
Part 2: Money Around the World
Just like the UK uses the Pound, other countries have their own currencies. The Euro (€) is used by many countries in Europe, such as France, Spain, and Germany. The United States uses the Dollar ($). Can you match the country to its currency?
Activity: Draw a line to match the country in Column A with its correct currency in Column B.
| Column A: Country | Column B: Currency |
|---|---|
| 1. Japan | A. Rupee |
| 2. USA | B. Yuan |
| 3. India | C. Dollar |
| 4. Switzerland | D. Yen |
| 5. China | E. Franc |
| 6. France | F. Euro |
Part 3: Budgeting Basics - Your Money, Your Choices
Budgeting is simply a plan for how you will use your money. It helps you make sure you have enough for the things you need (expenses) and the things you want.
As a teenager, your expenses might be things like phone credit, snacks, cinema tickets, or saving for a new game. As an adult, expenses become bigger and more essential, like rent or a mortgage, utility bills (gas, electricity), groceries, and transport costs. Learning to budget now is a great skill for the future!
Activity: Read the scenarios below and answer the questions.
Scenario 1: You receive £15 pocket money a week. This week, you want to buy a new book that costs £8.99 and go out for pizza with a friend, which will cost about £7.50.
- What is the total cost of your planned expenses?
- Do you have enough money? If not, how much are you short?
- What is one choice you could make to stay within your budget?
Scenario 2: You have saved £40 for a new pair of trainers that cost £55. You get £10 a week for doing chores around the house. You don't have any other expenses this month.
- How much more money do you need to save to buy the trainers?
- How many weeks will it take you to save enough money?
Answer Key
Part 1: Know Your Pounds and Pence
| Description | Value |
|---|---|
| A small, round, copper-coloured coin. The smallest value. | 1p |
| A small, round, silver-coloured coin. | 5p |
| A seven-sided, silver-coloured coin. Larger than the other seven-sided coin. | 50p |
| A large, round, bi-metallic coin with a silver-coloured outer ring and a gold-coloured inner circle. | £2 |
| An orange-coloured polymer banknote featuring the author Jane Austen on the back. | £10 |
| A purple-coloured polymer banknote featuring the artist J.M.W. Turner on the back. | £20 |
| A 12-sided, bi-metallic coin with a gold-coloured outer ring and a silver-coloured inner circle. | £1 |
| A red-coloured polymer banknote featuring the scientist Alan Turing on the back. | £50 |
| A seven-sided, silver-coloured coin. Smaller than the 50p. | 20p |
| A blue-green coloured polymer banknote featuring the former Prime Minister Winston Churchill on the back. | £5 |
Part 2: Money Around the World
1. Japan → D. Yen
2. USA → C. Dollar
3. India → A. Rupee
4. Switzerland → E. Franc
5. China → B. Yuan
6. France → F. Euro
Part 3: Budgeting Basics
Scenario 1:
- Total cost: £8.99 + £7.50 = £16.49
- No, you don't have enough. You are short by £16.49 - £15.00 = £1.49
- (Example answers) Wait a week to buy the book; find a cheaper book; suggest a cheaper activity than pizza; see if you can borrow the book from the library.
Scenario 2:
- Money needed: £55 - £40 = £15
- You need £15 and you earn £10 per week. You will need one full week (£10) and half of another week (£5). So it will take two weeks to save enough. (After two weeks you will have £20, which is more than the £15 you need).