Resource

What is Debt?

Exploring both personal and sovereign debt.

Overview

Students will explore issues around money, personal and sovereign debt and consider the impact government borrowing has on future generations.

By the end of the lesson students will be able to:

  • Describe what debt is and why someone might find themselves in debt
  • Explain the difference between personal and sovereign debt
  • Examine the impact of personal and sovereign debt

This lesson forms part of our wider collection of Economic and Financial Literacy teaching resources.

More Lessons resources

Lessons, Understanding Rules & The Law, KS2 (ages 7-11)

Where do you stand?

Over a series of short sessions, pupils will have the opportunity to consider topical issues related to their school life. Pupils will consider the strength of arguments for and against…

Lessons, Understanding Rules & The Law, KS3 (ages 11-14)

Who’s to Blame? (SmartLaw Subscription)

This activity is based on the case of R v. Dudley and Stephens (1884) – two sailors accused of murdering cabin boy Richard Parker, after being cast adrift on the…

Lessons, Sustainability and the Environment, KS4 (ages 14-16)

Climate Action: Using the Law to Drive Change

In 2021, COP26 was hosted in Glasgow. It was seen as a pivotal moment in tackling the global climate...

More Economics, Money and Managing Resources resources

Lessons, Economics, Money and Managing Resources, KS4 (ages 14-16)

Be Your Own Councillor

Students examine ways in which a fictional town council could spend its budget. They consider the concerns of different...

Lessons, Economics, Money and Managing Resources, KS2 (ages 7-11)

Why Do We Pay Taxes? (Part 2)

Pupils will learn that councils are responsible for local spending decisions and can raise additional funds for public services through council taxes. To access this content, register for our School…

Lessons, Understanding Rules & The Law, KS4 (ages 14-16)

Employment Law (SmartLaw Subscription)

During this lesson students explore the law that applies to young workers and what they can do if they believe their legal rights at work are not being upheld. To…

More Politics and Democracy resources

Lessons, Sustainability and the Environment, KS2 (ages 7-11)

The G7 (Lesson Plan)

During this two lesson resource pupils learn about the G7 and take part in a mock G7 Summit meeting.   During the first lesson pupils explore the history and function…

Lessons, Understanding Rules & The Law, KS3 (ages 11-14)

Law in Wales

Did you know that the age of criminal responsibility in Wales is ten? In Scotland it is 12. In...

Assemblies, Sustainability and the Environment, KS2 (ages 7-11)

The G7 (Assembly Pack)

During this assembly pupils explore the history and function of the G7 and are introduced to the sort of discussions held at the annual G7 Summit. They learn about the…

More KS3 (ages 11-14) resources

Lessons, Economics, Money and Managing Resources, KS3 (ages 11-14)

You Decide! (KS3)

This resource will allow students to critically consider what reasons and ways the government can take to support different...

Lessons, Understanding Rules & The Law, KS3 (ages 11-14)

Cyberbullying (SmartLaw Subscription)

According to research by the charity Ditch the Label, 7 in 10 young people have experienced cyberbullying, 20% of whom experience it daily. Support your students to know their legal…

Lessons, Understanding Rules & The Law, KS3 (ages 11-14)

Law in Wales

Did you know that the age of criminal responsibility in Wales is ten? In Scotland it is 12. In...