| Knowledge and understanding: Students can... |
Year 2 | Year 4 | Year 6 | Year 8 | Year 10 |
| • recognise Australian money includes notes and coins. | • explain some different forms that ‘money’ can take. | • explain how financial transactions can include using more than notes and coins. | • identify and explain the importance of tracking and verifying transactions and keeping financial records to manage income and expenses. | • identify and explain strategies to manage personal finances. |
| • recognise that money is limited and comes from a variety of sources. | • identify different forms of income. | • describe how an individual can influence their income. | • identify and discuss casual employment opportunities that can earn income. | • explain the different ways in which people are paid including wages, salaries, commissions, self- employment and government benefits. |
| | • explain the role of work in society and distinguish between paid and unpaid work. | • explore the value of unpaid work to the community. | • identify the role of casual employment in the community and some associated rights and responsibilities. | • identify and explain common terminology and categories for deductions used on pay slips. |
| • recognise that money can be saved to meet needs and wants. | • explain how saving money in a financial institution can earn interest. | • recognise that families use household income to meet regular financial commitments and immediate and future expenses. | • explain why it is important to set and prioritise personal financial goals. | • explain the various factors that may impact on achieving personal financial goals. |
| • explain how money is exchanged in return for goods and services. | • explain why similar goods and services may vary in price. | • analyse the value of a range of goods and services in relation to an identified need. | • research, identify and discuss the rights and responsibilities of consumers in a range of ‘real-life’ contexts. | • discuss why some goods and services are provided by Government for community benefit and how these are funded. |
| • identify and discuss some rights and responsibilities of consumers and business. | • research, identify and discuss the legal rights and responsibilities of business regarding goods and services provided to consumers. |
| • identify implications of ‘terms and conditions’ such as fees, penalties, interest and warranties. |
| • identify and describe the differences between needs and wants. | • identify, explain and prioritise different needs and wants. | • explain how money can be borrowed to meet needs and wantsand that there may bea cost involved. | • identify and discuss the different forms of ‘credit’ and costs involved. | • explain how over-reliance on credit can impact on future choices. |
| | | • analyse and explain the range of factors affecting consumer choices. | • analyse and explain the range of factors affecting consumer choices. |
| • identify where to access reliable information and advice concerning the rights and responsibilities of consumers and business. | • discuss and compare different sources of consumer and financial advice. |
| • recognise that different countries use different currencies. | • recognise that the currencies of different coutries have different values relative to the Australian dollar. | • identify the risks within consumer and financial landscape such as scams, identify theft, fraudulent transactions and ways of avoiding these. | • identify types of consumer and financial risks to individuals, families and community and ways of managing them. |
