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Assignment 5
Which way of saving is the best? Motivate your answer.
Money can be saved in the post office, a bank, a building society and in community based banking facilities.
In these institutions, your money can earn interest and will therefore increase gradually.
Assignment 6
What is interesT?
(Suggestion: Use a dictionary.)
[LO 3.4]
Your parents are willing to deposit R150, 00 monthly in your savings account at a local bank. You may withdraw R50, 00 of this money as pocket money per month, but the remaining R100,00 must earn interest, so that you will be able to pay the deposit for the scooter that you want to ride to school one day.
Assignment 7
List all the banks in your city / town (five at most). Delegate five learners – one per bank – to find out at which bank your money would earn the highest interest.
| Name of bank | Interest rate | Banking costs per transaction |
| 1. | ||
| 2. | ||
| 3. | ||
| 4. | ||
| 5. |
[LO 3.3]
When money is deposited in a bank and is withdrawn later, interest is calculated on the daily balance (final amount). Computers are usually used for these calculations.
Instruction to the teacher: Invite representatives from local banks to come and talk to the learners about the different savings or banking facilities that are available from the banks.
Assignment 8
At which bank would you open a savings account? Motivate your decision with at least four sound reasons.
[LO 3.3]
Assignment 9
You have just celebrated your birthday and were given R230, 00 in cash. You want to deposit this in your savings account. Fill in the bank deposit slip correctly and paste it below.
Banks use the money that we save to invest in other businesses or to buy buildings and land. In this way banks “grow “ our money. When you save your money in a bank, you therefore get more money in return.
[LO 3.3]
LO 2
SUSTAINABLE GROWTH AND DEVELOPMENT
The learner will be able to demonstrate an understanding of sustainable growth, reconstruction and development, and to reflect on related processes.
We know this when the learner:
2.2 explains the concept of economic growth and development, and its impact on the development of communities and society;
LO 3
MANAGEMENT, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLS
The learner is able to apply and demonstrate, in a responsible manner, knowledge as well as a range of management, consumer and financial skills.
We know this when the learner:
3.1 participates and demonstrates some management and leadership roles in the classroom and home in the absence of adults;
3.3 finds out and discusses how a savings account is opened at a bank, and completes deposit and withdrawal slips;
3.4 discusses the value of savings and thrift and people’s difficulty in saving if basic needs are not met.
Assignment 1
Can differ, but the expenditure must just exceed the income and a deficit must be shown. Hint: Use rounded off amounts.
(a) Stationery
(i) pencil R3,00
(ii) eraser R4,00
(b) Toiletries
(i) deodorant R8,00
(ii) shampoo R14,00
(c) Birthday presents
(i) Elisma R15,00
(ii) Adri R15,00
(d) Sweets
(i) Tuck shop R16,00
Assignment 2
Same as Assignment 1, Total amount R28,00 (less than R30)
At least three items, but not more than five.
Totals rounded off
10 Surplus R2,00
Neatness
Assignment 3
The difference between fixed and variable expenditure is explained to the learners. They complete Assignment 3 individually thereafter.
| Fixed | Variable |
| Home instalment (do together as class) | Water account |
| Telephone | Electricity account |
| Domestic worker’s wage | Cash groceries |
| Pocket money | Recreational expenditures |
| Clothing account that you arepaying off | Fuel consumption |
Assignment 4
The problems surrounding child labour can spark a lively debate and each learner’s point of view can be taken into account. The acceptability or otherwise of certain situations can then be considered.
Opinions can differ.
Situation 1 – acceptable
Situation 2 – unacceptable
Assignment 5
The importance of saving, as well as different ways of saving one’s money, is emphasised. Then the best way of saving can be deduced.
Savings account: advantage – money earns interest
disadvantage – must pay banking charges
Money box: disadvantage – can be stolen; easy access to money
Assignment 6
The concept interest can be explained to the learners before they do the assignment.
Return on loaned or invested money, compensation by bank because they may use your money for their investments.
Assignment 7
A delegation of learners can be sent to different banks to gather information on interest rates and banking charges. Only one learner per grade group should go to one bank to source the information. He/she can then pass the information on to the other grade groups. Answers can differ.
Assignment 8
Learners must only deduce that different banks offer different interest rates, and that banking charges differ. As long s a learner can justify with good reasons why he/she has chosen a specific bank, all answers are acceptable. Answers can differ.
Assignment 9
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