Citizenship: How can we be in control of our money?

Building financial awareness by distinguishing between needs and wants, creating budgets and understanding borrowing and lending.

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  5. Citizenship: How can we be in control of our money?

Important

This unit is part of the new RSE & PSHE scheme, developed in line with the updated government Relationships, Sex and Health Education guidance. The lesson content will be published by 1 November 2026.

Unit outcomes

  • Distinguish between needs and wants when making spending decisions.
  • Identify different sources of income and types of expenditure.
  • Allocate money within a weekly budget while prioritising needs.
  • Explain how a loan works.
  • Evaluate whether taking out a loan is sensible, including the consequences of late repayment.
  • Identify situations where money may be at risk online or offline.
  • Recommend suitable strategies for keeping money safe.
  • Assess the possible risks and consequences of different forms of gambling.

Suggested prior learning

Citizenship: How can we make a difference in our communities and beyond?

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Lessons

Lesson 1: Why should people prioritise needs over wants?

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Lesson 2: What is a weekly budget?

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Lesson 3: What is borrowing and lending?

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Lesson 4: What are the risks of handling money online?

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Lesson 5: How do people keep money safe?

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Lesson 6: What are the risks of gambling?

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Key skills

Key skills

  • Classifying spending decisions as
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Key knowledge

To know:

  • Borrowing money may
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Key vocabulary

budget (Y3/4)

need (Y1/2)

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Equipment list

Equipment needed across all lessons in this unit.

This list does not include equipment which is usually readily available in the classroom (e.g pencils, A4 paper etc)

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Full equipment list for the subject

Quantities marked × will update. Items without quantities are unaffected

  • Wonder box ×1
  • Whiteboards and pens ×30
  • Two £10 notes or play money ×1
  • A £2 coin or play money ×1
  • Three containers labelled ‘Bank’, ‘Money received and spent’ and ‘Money repaid’ ×1
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Related content

    Resources

Unit resources

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RSE & PSHE

Knowledge organiser: RSE & PSHE Y5 How can we be in control of our money?

Aimed at pupils, two pages providing key facts and definitions from the unit 'How can we be in control of…

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RSE & PSHE

Vocabulary display: RSE & PSHE Y5 How can we be in control of our money?

A display version of the vocabulary from the unit 'How can we be in control of our money?'.

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Subject resources

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Cross-curricular opportunities

British values: Democracy, Individual liberty, Mutual respect.

English: Spoken language.

Mathematics: Measurement (Y4).

Build on the learning

Citizenship: How can we protect everyone’s rights?

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