Risks of online financial lending

RSHE (PSHE)

Internet safety and harms: Gambling, debt and targeted advertising

If we need a loan then we have to pay back more than we borrow. A loan of £10,000 over five years would typically cost us how much extra money?

Pay off the debt first then start saving.

Start saving so that you can pay off the debt.

Take out a loan so that you can pay off your debt.

Debt is bad and saving is good. If you owe money which of these is the best option?

If your essential monthly expenditure is £800, what will your disposable income be if your monthly hours, paid at £10.50 an hour, drop from 120 to 80?

Where would be the best place to keep your savings?

The money must be repaid and interest rates may be high.

You might use the money to fund a car purchase.

Why must you be careful when you take out a personal loan?

You are surfing the web when you see an advert. It says that you can earn £10,000 a month and can choose your own hours. The only thing is you have to pay £500 to start. Is this a scam?

To work out a budget, you need to add up all your income and then remove what?

Which of the following is not a source of income?

You will have money to cover the cost of any emergencies.

Which of these is a benefit of saving some of your income regularly?

Janine has £300 income per week. Her rent is £150, her bills £50, her food costs £70 and her weekly night out costs £50. Which of these needs to be cut back?

Risks of online financial lending

Lesson outcome