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Personal Finance: Unit 1

Teacher’s notes included in the Notes PageFlash activity. These activities are not editable.

Icons key: For more detailed instructions, see the Getting Started presentation

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Learning objectives

What is a budget?

How do I make a budget for Christmas?

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Do you know what a budget is?

What is a budget?

A budget is a way of planning how you will save and spend your money.”

Budgeting is about planning ahead, so that you know what you will do with your money before you have it.

People make budgets in order to:ensure they can afford to pay all their bills, such as rent and heatingknow how much they can afford to spend on food, clothes, entertainment and luxuries save money.

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Budget planning

Budgets can be made weekly or monthly.

To make a budget, you need to work out:

how much money you will receive for the week or month (your income)

what money you need to spend during that week or month (your outgoings)

how best to balance your income and outgoings, so that you do not run out of money!

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Budget planning

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Shopping on a budget

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Shopping on a budget

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Activity

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