Money Management: A Comprehensive Learning Pathway for Ages 14–17

Course Modules & Syllabus

1. Module 1: Module 1: Foundations of Money & Income

   • Define money, its functions, and forms of income (wages, allowances, informal work)
   • Distinguish between gross and net income; calculate take-home pay after deductions
   • Identify sources of income relevant to Nigerian contexts (trading, apprenticeships, family support)

2. Module 2: Module 2: Tracking Expenses & Understanding Spending Patterns

   • Categorise expenses (fixed vs. variable, essential vs. discretionary)
   • Record and analyse personal spending using real-world scenarios (e.g., daily transport, food, data bundles)
   • Identify spending leaks and recognise common mistakes (impulse buying, hidden costs)

3. Module 3: Module 3: Creating & Managing a Budget

   • Construct a personal budget using the income-minus-expenses framework
   • Apply budgeting methods (50/30/20 rule adapted for local context) to allocate money
   • Monitor budget performance and adjust for changing circumstances (e.g., school fees, seasonal income)

4. Module 4: Module 4: Saving & Building Financial Resilience

   • Explain the purpose and benefits of saving (emergency funds, goal-setting, compound interest)
   • Calculate savings targets and timelines using simple and compound interest formulas
   • Compare savings options (cash, bank accounts, informal savings groups like ajo or esusu)

5. Module 5: Module 5: Understanding Credit, Debt & Borrowing

   • Define credit, loans, and interest; distinguish between good and bad debt
   • Calculate loan repayments and total interest paid using worked examples
   • Evaluate borrowing decisions and recognise predatory lending practices

6. Module 6: Module 6: Financial Products & Services

   • Identify common financial products (bank accounts, insurance, mobile money services)
   • Compare costs and benefits of different providers and account types
   • Understand rights and responsibilities when using financial services

7. Module 7: Module 7: Financial Planning & Goal-Setting

   • Set SMART financial goals (short, medium, and long-term)
   • Create action plans to achieve goals using budgeting and saving strategies
   • Evaluate progress and adjust plans based on life changes

8. Module 8: Module 8: Financial Decision-Making & Risk Management

   • Apply decision-making frameworks to evaluate financial choices (e.g., buy vs. rent, invest vs. save)
   • Identify financial risks (fraud, inflation, job loss) and mitigation strategies
   • Practise ethical financial behaviour and long-term wealth-building mindsets