factors effecting growth and development - Financial

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  • Created by: Elsie_
  • Created on: 10-06-13 19:06
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  • Factors effecting growth and development - Economic
    • Savings
      • Savings are important to help deal with expected life events such as a child going to uni, or unexpected life events.
    • Debt
      • Debt can cause great stress and worry, and because it needs to be paid back, it can mean sacrificing things we need now.
    • Income
      • Someone who earns more money has more choice over the lifestyle they lead.
      • Someone who earns less money may have to live in poor quality housing, live in bad area, and have limited choices.
        • People on lower income tend to live shorter lives due because statistically they are more likely to smoke and drink.
    • Material possesions
      • Material possesions help meet physical needs such as: having a washing machine, this meas you can stay clean therefore are more likely to be healthy.
    • Expectations
      • Someone may be ashamed of earning a low income or not be able to afford things like days out to make them happy.

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