he FOS is an organisation appointed by the government to represent the interests of customers in disputes with financial institutions.

Maintaining a healthy economy as a whole. Issuing legal tender, setting interest rates and controlling the national debt.

Unit of Account is where a monetary value is placed on an item/service.

Authorisation, Supervision, Enforcement

Childhood - limited. Adolescence - indepdendence. Younf adult - house, car, career. Middle age - family support, saving for children, lifestyle. Old age - downs

Interest rates dictate how much money you pay back on products such as loans and how much money you are paid for saving money within a bank/building society.

An overdraft is an agreed amount that an individual/business can be overdrawn without facing penalty charges

Being solvent refers to being able to pay your day-to-day outgoings.

Making informed decisions Living within your financial means Ensuring that your income covers your outgoings

Financial Services Compensation Scheme

Individual Savings Account

Your credit rating gives you a score based on your past financial decisions. This score indicates how much of a risk you are to financial institutions such as b

Changing interest rates Inflation Government action e.g. Brexit Taxation