Main sources of Expenditure Minimal, beyond toys and snacks Most needs provided by parents
Personal expenditure needs start to grow – clothing, socialising, hobbies
Protecting against Financial Risks
0-12 13-20
Starting a career
Setting up a new home
Major financial purchases such as travel, car
Unexpected financial emergencies Marriage
House purchase Household goods Food and clothing Utility bills Holidays
Unexpected financial emergencies
Growing a career and family
Family food and clothing Utility bills Children’s education costs Bigger car
Unexpected financial emergencies Retirement
Travel and recreation Hobbies
Medical expenses Unexpected financial emergencies Numeracy
1. Choose a profession from the list below: (a) professional footballer (b) doctor (c) bus driver
2. Draw a graph of a typical financial life cycle for the profession you’ve chosen. The graph should indicate the main stages and the typical level of income earned at each stage.
16
Car insurance House insurance Health insurance
65+
Car insurance House insurance Family health insurance Life assurance
