Hairdressing_Financial_Literacy_Presentation

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Financial Literacy Hairdressing & Beauty Therapy

Learning Outcomes

By the end of this session, learners will:

✅Make simple decisions about money

✅Work as a team to solve a basic money-related task

✅Communicate clearly and respectfully when discussing different opinions.

Why This Matters in Hairdressing & Beauty Therapy

• Hairdressing and Beauty are creative careers and business-focused.

• Strong money skills help with:

  • - Managing salon budgets

  • - Choosing cost-effective tools and products

  • - Planning for self-employment or chair renting

  • - Building habits for life outside the salon

Why does Financial Literacy matter in Hair & Beauty?

• Many Stylists/Therapists become self-employed and will need to manage their income.

• To be able to budget for expenses such as stock, fuel, premises.

• To complete a tax return (self-employed)

• To work out service/treatment costs

• To be able to invest in tools, equipment and training.

• Your income may vary, financial skills will help balance and budget your money providing stability.

• Improves salon/business profitability.

Skills You Will Develop

• - Teamwork

  • - Budget management

  • - Client-focused decision making

  • - Problem solving

  • - Communication

  • - Planning & organisation

  • - Adaptability

  • - Reflection

What do YOU have to consider when budgeting your money?

What are the benefits of budgeting?

Benefits of Budgeting

•Financial Control: Budgeting gives you control over your finances by allowing you to track income and expenses.

•Goal Achievement: helps you achieve financial goals, whether for saving, debt repayment, or an emergency fund.

•Debt Reduction: helps you allocate more funds toward paying down debt, reducing financial stress.

•Spending Awareness: increases awareness of where your money goes, helping you identify unnecessary expenses and cut back.

•Avoiding Overspending: By setting spending limits, it prevents overspending and ensures that your money is used wisely.

•Long-Term Financial Health: Consistent budgeting promotes long-term financial stability and helps you build wealth over time.

Money Style Activity

• Planner, Dreamer or Drifter?

  • Make a note of which number you align with the most.

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Consequences of Poor Financial Management

• Examples of what happens when money isn’t managed:

  • - Struggling with bills or rent

  • - Unsafe borrowing

  • - Online scams

  • - Misusing credit

Budgeting on a Trainee Wage

Scenario: £900 monthly income.

Final Reflection

• One financial skill used today.

  • One realistic money goal and first step.

Useful UK Resources

• MoneyHelper, HSBC Budgeting, Lloyds 50/30/20 Rule, MoneySavingExpert, Barclays You Matter.