What happens when I spend money?
Lesson details
Learning outcome
I understand what happens when I spend money.
Key learning points
- Money spent is no longer yours.
- Money is exchanged for objects or services that have the same value.
Keywords
Buy - To obtain something by paying money for it.
Cost - The amount of money that you need in order to buy, make or do something.
Pay - To give somebody money for work, goods, or services.
Common misconception
Children might not be confident adding two numbers within 20 to calculate the costs of fruit.
Choose representations or manipulatives that you know will support the children in their addition as part of normal classroom practice.
Teacher tip
There are contexts given in the lesson but you know your class best! Try and use concrete resources where possible. You could even get the children to set up their own pretend shops and Summer fair activities in the classroom.
Content guidance
Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
Loading...
Prior knowledge starter quiz
6 Questions
Q1.What does it mean to buy something?
Q2.What is another word for ‘buy’?
Q3.What is a bargain?
Q4.What’s the value of this coin?
Q5.What’s the value of this coin?
Q6.What is the total value of these coins?
Assessment exit quiz
6 Questions
Q1.True or false: Once you spend money, you can’t have it back.
Q2.Jacob has this much money. Can he afford a cake for 20 pence?
Q3.You have 9 p. Which fruit can you afford to buy?
Q4.Jacob had this money and spent 10 p on sweets. How much money has he got now?
Q5.What does this mean?
Q6.Match the items you can buy with lasts or doesn’t last.
Does not last
Lasts
To help you plan your 1 financial education lesson on: What happens when I spend money?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your 1 financial education lesson on: What happens when I spend money?, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
We use learning cycles to break down learning into key concepts or ideas linked to the learning outcome. Each learning cycle features explanations with checks for understanding and practice tasks with feedback. All of this is found in our slide decks, ready for you to download and edit. The practice tasks are also available as printable worksheets and some lessons have additional materials with extra material you might need for teaching the lesson.
The assessment exit quiz will test your pupils' understanding of the key learning points.
Our video is a tool for planning, showing how other teachers might teach the lesson, offering helpful tips, modelled explanations and inspiration for your own delivery in the classroom. Plus, you can set it as homework or revision for pupils and keep their learning on track by sharing an online pupil version of this lesson.
Explore more key stage 1 financial education lessons from the An introduction to money unit, dive into the full primary financial education curriculum, or learn more about lesson planning.