A budget is the money that is available and a plan of how it will be spent over a period of time.

Budgeting is the process of planning to spend an amount of money for a particular purpose.

What is budgeting?

Financial education

What is the difference between wants, needs and priorities?

Save, spend or borrow?

How do we pay for things?

Can I spend money playing online?

This unit teaches financial priorities, simple budgeting, spending methods, and online spending awareness.

Making money decisions

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

A budget is the money that is available and a plan of how it will be spent.

The amount that you pay for something and how much is leftover.

At a fairground, each ride costs a different number of tokens. Izzy’s favourite ride is the chair swing. How many times can Izzy afford to go on the chair swing with 10 tokens?

At a fairground, each ride costs a different number of tokens. Jun loves trampolining. How many times can Jun afford to go on the trampoline with 10 tokens?

Snacks at the cinema cost different amounts. Izzy has £2 to spend. She buys gummy bears. What else can she afford with her budget?

Jacob has £5 to spend on snacks but must buy a popcorn each for himself and his sister. He wants to spend the rest on chocolate frogs. How many chocolate frogs can he afford with his budget?

If Sam uses the budget plan shown, how many weeks will it take to buy a new helmet for her avatar at a price of 1,600 tokens?

Tick the items that you would need to save up to be able to afford if you had the money in the picture.

Apples are 20 p each. If you have 70 p then how many can you afford?

Alex needs £3 to be able to buy a new football. Is it okay to borrow this from his dad?

Jun has £5 saved up but he needs £50 to be able to buy a new game. Should he keep saving up or borrow the money?

True or false? You can borrow money from anyone so long as they have the amount that you need.

True or false? Owing money to somebody is a bad thing and you should try and avoid it at all costs.

What is budgeting?

Lesson outcome

Content guidance