Code: 2.3.2 · Children and youth
Factors influencing savings
Descriptors
Knowledge
What you can do at this level
- Kage:6-10
Understands that saving money in a bank or other financial institution can bring interest
- Kage:11-15
Understands the relationship between inflation, interest rates (nominal/real) and savings
Skill
What you can do at this level
- Sage:11-15
Differentiates between simple and compound interest
- Sage:16-18
Able to take into account the level of inflation and interest rates when making saving decisions
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.