Your Finances LEARNING OBJECTIVE To be able to construct a personal budget that takes into account...
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![Page 1: Your Finances LEARNING OBJECTIVE To be able to construct a personal budget that takes into account personal remuneration and expenditure.](https://reader035.fdocuments.in/reader035/viewer/2022070411/56649f4f5503460f94c70aa9/html5/thumbnails/1.jpg)
Your FinancesLEARNING OBJECTIVE
To be able to construct a personal budget that takes into account personal remuneration and expenditure.
![Page 2: Your Finances LEARNING OBJECTIVE To be able to construct a personal budget that takes into account personal remuneration and expenditure.](https://reader035.fdocuments.in/reader035/viewer/2022070411/56649f4f5503460f94c70aa9/html5/thumbnails/2.jpg)
Starter
1. ‘3.8 million children in the UK live in poverty.’
2. ‘Most families own a car.’
3. ‘Some parents in the UK only have £19 a day to cover electricity, gas, phones, other bills, food, clothes, washing, transport, health needs and activities.’
4. ‘About 7,700 children in the UK can’t afford a healthy diet.’
5. ‘Despite our wealth, our country currently has one of the worst rates of child poverty in the European Union – ranked 21 out of 27.’
6. ‘About 85% of parents with less money find that paying for school uniform is the most expensive thing related to bringing up a child.’
7. ‘About 650,000 UK kids live in homes that aren’t heated properly.’
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1. TRUE
2. FALSE
3. TRUE
4. FALSE
5. TRUE
6. FALSE
7. TRUE
What shocks you’re the most?
Starter
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Main Activity
Find a Family –You need a dad/mum/sister/brother
In these groups you will be given an envelope containing everything about your family. e.g. Household income
You will then need to decide as a family:O Where you liveO HolidayO CarsO Christmas PresentsO Weekly shopping basket
REMEMBER YOU MUST BUDGET FOR THE UNEXPECTED!
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Family 1O Has a household income of £30,000
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Family 2O Has a household income of £43,592
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Family 3O Has a household income of £80,000
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Unexpected…O One parent has been made
redundant
O You won the lottery!
Extension- how much money is left to spend at the Christmas Shop – can everybody get what they want??
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Christmas Shop
What would you like to purchase?
• New Bike• Books• Gift Card• Games Console• Music• Trainers• Jewellery
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Middle Class
O The average Briton works full-time and earns £24,744
O Has a household income of £43,592O Drives a Ford, Vauxhall or Toyota
and has one car in their householdO Lives in a detached home worth
£278,714 with three bedroomsO Is marriedO Holidays in short-haul destinations
on a self-catering basisO Has an average of £25,963 in
savings or investments
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Plenary
Make a mini-poster addressing the following:
O Why is budgeting important? O What are the advantages and disadvantages
of budgeting?O 5 Top Tips for budgeting your money.