Finance

See below for videos explaining certain topics:

Finance Summary – Mathematical Literacy (Grades 10–12)

1. Income, Expenditure, Profit and Loss

• Income: Understanding different sources of income, including wages, salaries, grants, and investment returns.

• Expenditure: Types of expenses (fixed and variable), including household and personal budgets.

• Profit/Loss: Calculating and interpreting profit and loss in simple financial contexts.

2. Budgeting

• Personal and Household Budgets: Developing, analysing, and adjusting budgets to reflect realistic income and expenditure patterns.

• Shortfalls and Surpluses: Identifying and managing financial imbalances.

3. Banking and Interest

• Bank Accounts: Understanding different types (e.g., savings, current, investment accounts) and their features.

• Transaction Records: Reading bank statements and completing transaction records.

• Interest Calculations: Calculating simple and compound interest over time.

4. Credit and Loans

• Credit Concepts: Understanding store accounts, credit cards, hire purchase, and loans.

• Loan Repayments: Calculating repayment amounts, including interest and terms.

• Creditworthiness: Understanding the impact of repayment behaviour and credit scores.

5. Cost Price, Selling Price, Mark-up and Discounts

• Cost and Selling Price: Determining selling prices using mark-up percentages.

• Discounts: Calculating discounts and final prices after reductions.

• Break-even Analysis (Grade 12): Identifying the point where income equals expenses in a business scenario.

6. Tariff Systems and Invoices

• Understanding Tariffs: Analysing costs of services (e.g., electricity, water, cell phone data, transport).

• Interpreting Invoices: Reading and checking accuracy of service bills.

• Comparing Options: Evaluating different pricing plans and packages.

7. Taxation

• Personal Income Tax: Understanding taxable income, tax brackets, and deductions.

• VAT: Understanding Value Added Tax, VAT-inclusive and VAT-exclusive prices.

• PAYE and UIF: Calculating deductions from gross salary.

8. Inflation and Exchange Rates

• Inflation: Understanding how inflation affects prices, savings, and purchasing power.

• Exchange Rates: Converting between currencies using current rates.

9. Financial Documents

• Payslips: Reading and interpreting key payslip information (gross income, deductions, net pay).

• Bank Statements & Receipts: Analysing and verifying transaction information.

• Quotations & Invoices: Understanding how quotes and invoices are structured and used.

Progression Across Grades

• Grade 10: Focus on basic budgeting, income/expenditure, and simple financial calculations.

• Grade 11: Introduces tariffs, interest, more complex budgeting, and understanding financial documents.

• Grade 12: Adds tax, inflation, break-even analysis, and critical analysis of financial scenarios.