Financial Decision Making
Ages 16–18Difficulty adapts to you
Financial Decision Making
Good financial decisions compare like with like: same time period, same units, same fees, and the same assumptions. Calculate the measurable cost or benefit, then consider uncertainty and non-mathematical priorities.
Your goals
- ✓You can use tables, percentages, graphs, and scenarios to choose between financial options.
- ✓You can use Financial Decision Making, model correctly.
- ✓You can use the definitions, units, assumptions, and examples to check your answer.
Words to know
- Financial Decision Making:
- Use tables, percentages, graphs, and scenarios to choose between financial options.
- model:
- A rule or representation used to describe a situation and make a prediction.
Examples
- 1Compare two phone plans by calculating the annual cost, including activation and data-overage fees.
- 2A break-even point is where total cost equals total revenue; beyond it, the activity makes a surplus.
Check these
- • Do not skip the meaning of a term or give a result without explaining what it means.
- • Keep every number, symbol, label, and unit in its correct place.
- • Show enough working to check how you reached your answer.
Helpful habits
- • Read the whole question before choosing what to do.
- • Show one clear step at a time and check each step.
- • If you are stuck, draw a model, try smaller numbers, or revisit the example.
Now try your own
Create your own financial decision making example, solve it, and explain how you checked it.
Spark
Creativity & Innovation“Maths is like a puzzle — the fun is in figuring it out!”