Money Week 2018-19: Breaking Bad Money Habits (Topics/ideas/things people…
Money Week 2018-19: Breaking Bad Money Habits
Topics/ideas/things people can "break"
Bad Credit Choices: e.g. Brighouse, Ponden Home etc.
Spending "on the go" Snacks, Coffees, Sneaky lunches out
Paying the "bare minimum on credit"
Not planning or paying attention to your finances: e.g. not checking your bank account, not reviewing your budget, not implementing any planning
Impulse buying: e.g. internet spending, gaming and in app purchases, blowing money on clothes on student loan day, expensive tech/gadgets, mobile phones
Paying subscriptions that you don't use
Spending more than you earn: match your spending to your lifestyle
Not taking control/blaming others for your financial situation/making excuses
Using public transport instead of walking/cycling
Food shopping without a list/buying branded products
Key things to get across
Companies are not your friend: Martin Lewis
Banks and finance companies are not there to give advice, they are there to sell you something
Understanding the jargon, APRs and calculations is the only way to really know what something "costs"
Complex ideas such as compound interest (look at teen cash class)
Thinking about when it is appropriate to borrow and when not? Good debt v bad debt
Pros and cons of student bank accounts - banks just want to have your business
Games, Gimmicks and ideas
Could you do one of the fortune tellers with related questions on spending?
E.g. Do you really need the item, how many times would you use it, can you get it cheaper elsewhere etc.?
Quiz about facts and figures of borrowing
Comparing offers quiz:
Imagine.. You have £2,500 on a Barclaycard at 16% interest, and have done for a few
years. You also need to borrow £1,000 for stuff for a new home. What’s the best
credit card solution you can come up with?
Comparing store cards with actually buying
Debt roulette game?
Loyalty is for loosers - if you stay loyal, you loose out
How to haggle to get the best deals
How to check your credit file and understand this