How do you plan and manage a budget?
I can plan and manage a budget.
How do you plan and manage a budget?
I can plan and manage a budget.
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Lesson details
Key learning points
- Saving money allows you to make largeer purchases in the future.
- Keeping track of money allows you to see what you have spend and what is left.
Keywords
Budget - A budget is the money that is available and a plan of how it will be spent over a period of time.
Budgeting - Budgeting is the process of planning to spend an amount of money for a particular purpose.
Common misconception
Children might think that managing a budget is always about turning out a profit.
Have some real-life examples of budgets that don't relate to profit but are important to manage. Playgrounds, hospitals and libraries are good examples of where budgets must be managed carefully but are not businesses.
To help you plan your year 6 financial education lesson on: How do you plan and manage a budget?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 6 financial education lesson on: How do you plan and manage a budget?, 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 2 financial education lessons from the Budgets and ethical spending unit, dive into the full secondary financial education curriculum, or learn more about lesson planning.
Equipment
Content guidance
- Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
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