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D5: Financial mathematics

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Pfeg. Pensions worries People Management. How can I save on my energy bill? | Money. Could you save yourself more than £200 a year by switching supplier? According to a report from the Competition and Markets Authority on 18 February, 95% of the customers of the big six energy suppliers could save that much by switching tariff and/or supplier. Yet relatively few people bother to switch. About 40% of British Gas customers have been served by the company for more than 10 years, according to the CMA and, for electricity, around 50% of customers have been with their supplier for more than a decade.

Why are people not switching? According to the CMA report around a third of people had never considered switching or thought it was not possible. What are the potential savings? The majority of people who gave the answers above were, according to the CMA, aged 65 and over; in social accommodation; those with no qualifications; or on lower incomes. For someone in this position the savings could be more than £200. How easy is it to switch? Will you save money? Is switching a nightmare? Biz3_00_25_11.pdf. FSMQ Level 3 Personal finance - original activities. BBC Consumer - Monthly interest calculator: the payday loan trap. 3 December 2013Last updated at 09:26 Payday loans with high interest rates are advertised as a stopgap until your next payday. But what if you can't pay them back? Taking out a new payday loan every month to pay for the last one leads to spiralling costs. Young, British and Broke presenter Miquita Oliver shows the payday loan interest calculator in action.

BBC Three documentary Young, British and Broke: The Truth about Payday Loans shows the stories of several young people who 'refinanced' payday loans - took out a new loan with another company to pay off the first loan, including any interest owed. The risk of this is that you are paying interest on a bigger and bigger balance each month. If you refinance like this several times, the 'compounding' effect of the high interest rate can quickly spiral out of control. On any borrowing, the two key things that affect the interest cost are the annual percentage rate of interest (APR) and how long you borrow for. Continue reading the main story. Tax explained — Brightside. Planning to earn some extra cash to fund your way through uni? Make sure you know your facts about tax otherwise you may end up paying too much. Maybe you got your first pay packet but didn’t take home as much cash as you were expecting.

Click below to get the lowdown on the taxes you should be paying and find out if you are eligible for a tax rebate. Do I need to pay tax? Even if you are student, if you have a job you will be expected to pay Income Tax and National Insurance contributions if you earn over a certain amount. Your employer should decide any Income Tax and National Insurance from your wages before you receive them. If you make money working for yourself, you'll have to register as self-employed and fill out a tax return at the end of the year.

Return to top What is income tax? This is a compulsory contribution to the government to fund public services such as the NHS, education and defence. What is National Insurance (NIC)? Students must pay this tax on their earnings. Getting paid — Brightside. So you’ve been working hard and are looking forward to your first paycheque – but there might be a few surprises when the money comes in. Read on to find out more. When do I get paid? You'll agree when you get paid with your employer before you start. If your job pays an annual salary, you'll normally be paid monthly. If you get paid by the hour, you'll normally be paid weekly. Most jobs are paid in arrears, which means you need to do the work first before you’re paid for it. If your usual payday falls on a weekend or a bank holiday, you'll normally be paid early.

Your payslip With a few exceptions all employees have the right to receive a payslip or pay statement. Your pay before any deductions ('Gross pay')Anything that has been taken off your pay, such as tax or student loan repayments ('Deductions')How much is left after these deductions ('Net pay')How you are being paid (eg. bank transfer, cash) How much should I get paid? Why have I been paid less than I’m owed? Related links. Money — Brightside. Everything you need to know about student finance – icould.

N7 using percentages to increase quantities. Ch4 VAT. Tower Hamlets Education Business Partnership - Tower Hamlets EBP. Free & impartial money advice, set up by government - Money Advice Service. Pfeg.org | Providing lesson plans and teaching resources on money management to help teachers of financial capability. 33063-Resource_Sheets_Downloadable.pdf. Introducing Financial Mathematics Pfeg. Module 7 Dev task Number Vocational. Search. Understanding the Economic Cycle. Author: Geoff Riley Last updated: Sunday 23 September, 2012 All countries experience regular ups and downs in the growth of output, jobs, income and spending. These fluctuations form what is known as the economic or business cycle. Boom A boom occurs when real national output is rising at a rate faster than the trend rate of growth.

Some of the characteristics of a boom include: The UK enjoyed sustained growth over the last fifteen from 1993 through to the end of 2008 but for better examples of booming countries we have to look overseas. Slowdown Recession Recession and rising unemployment “There is a risk is that productive capacity in the UK economy could be permanently lost, as temporary job losses morph into long-term unemployment due to job-seekers losing skills and dropping out of the labour market” Source: IMF Blog, August 2011 A recession means a fall in the level of national output i.e. a period when growth is negative, leading to a contraction in employment , incomes and profits . Financial Cycle BIS work395. Economy tracker: Inflation. 15 April 2014Last updated at 06:06 ET Continue reading the main story Latest news: The UK inflation rate as measured by the Consumer Prices Index (CPI) fell to 1.6% in March from 1.7% in February, according to the Office for National Statistics (ONS).

It is the third consecutive month inflation has been below the Bank of England's 2% target rate, following four years above it. The ONS said the largest factor in the lower inflation rate was stability in petrol prices, compared with the same period a year ago when they rose by 2.2p a litre. The rate of Retail Prices Index (RPI) inflation, which is calculated differently, also fell from 2.7% to 2.5%. Understanding inflation: Inflation is a rise in the price of goods and services we buy The annual rate of inflation shows how much higher or lower prices are compared with the same month a year earlier. There have been dramatic changes in the rate of inflation in recent years. So what was behind those big swings? Financial Maths. Note: this information is subject to continuing review and development. Please check regularly to ensure that you are using the current versions.

Students require real experiences with situations involving finance and with situations involving data. They will learn best about these concepts on an intuitive or informal level rather than standard lessons. Students need an opportunity to reflect on and interpret situations and work at describing them in order to answer questions about finance and gathering data for it. In this first project students are to manage their new phone company with the launch of their new phone Mokia-0. Read this first. MMM_1 - OpenLearn - Open University - MMM_1. Gain the skills to manage your personal finances: managing budgets, debts, investments, property purchase, pensions and insurance. With real incomes falling and personal debt at a record high, there has never been a better time to improve your personal financial skills – Managing my money aims to do just that.

You'll start by learning how to compile a budget and use it to make good decisions about your spending. You’ll explore debts and investments, and find out how mortgages are used to finance home ownership. The critical issue of pension planning is explained, with guidance on different pension products. You'll finish by examining different types of insurance and getting practical advice on how to make rational decisions about which insurance products to buy. Using up-to-the minute data from the UK you develop financial skills and approaches that are relevant globally. This course is presented on OpenLearn with the kind support of True Potential LLP 7.

Europe's lost art of money-making. Creative commons image Credit: Gary Edwards It’s a sign of the Eurozone’s financial plight that it’s preparing to start a Quantitative Easing (QE) programme just as America’s is drawing to a close 11. But this monetary expansionism has, in another form, already appeared at the heart of Europe, courtesy of artist Axel Stockburger. His Quantitative Easing (for the Street) 12 has given residents of Vienna an early chance to reflect on their (and their governments’) response to the Global Financial Crisis, and the role of money more generally in establishing (or eroding) social values.

Stockburger’s golden installation – hereafter QE(s) - randomly distributes Euro coins in a public square. Although his explanatory web-page ends with a series of links to serious articles on Quantitative Easing, nitpicking economists might query some aspects of the representation. 13 (Kunst im öffentlichen Raum), a promoter of art in public spaces. 18, but not push a stopped horse back into motion. 19. 20. 23. Support for teachers and students. Citizens Advice consumer education. In April 2013 the Citizens Advice service became the Government-funded provider of consumer education in Great Britain, bringing consumer advice, advocacy and education under one roof. Our new role means we can make sure consumers are represented and supported in the best way possible.

Through our evidence base of client issues, our campaigning and our education work, we want to empower consumers to stand up for what matters most to them. Find out more about our vision for consumer services: Getting a better deal for consumers Consumer Empowerment Partnerships We have set up 11 bureau-led Consumer Empowerment Partnerships across England. Find out more about Consumer Empowerment Partnerships Consumer education resources Working with our partners at the Consumer Empowerment Alliance, we will collect consumer education resources from a range of providers and make them available. To view a list of resource titles and descriptions: To access the resources you need to register: Resources registration.

Depreciation and amortization | Accounting and financial statements. Basic cash flow statement | Three core financial statements. Three core financial statements | Accounting and financial statements. Math_handbook.pdf. Talk_money_talk_maths.pdf. Financial_Maths_Introduction. Lgr-combo-ch5.pdf. Uni of Leeds Financial maths notes-all.pdf.