Life Skills·Money & Finance·conceptual
Borrowing & Debt
What borrowing money means; that loans must be repaid with interest; what credit is; why too much debt can be risky; responsible borrowing
Suggested ages 9–11
Evidence of understanding
- Explain what a loan is and that borrowed money must be paid back with extra (interest)
- Give an example of when borrowing might be sensible (buying a house) versus risky (buying luxuries you can't afford)
- Describe what happens if someone borrows too much money and can't repay it
Assessment prompt
Could Borrowing & Debt explain why borrowing money costs more than the amount you borrow, and why that matters?
Standards alignment
No external standards are linked to this topic.