The teaching aims of this lessons are to explain the concept of budgeting and money management, how to budget and what it entails and to identify all of the different potential living costs, the importance of money management and the possible consequences if money is not managed properly, the main areas of expenditure that can be incurred by an average household and to give an insight into how bills and expenses function and the consequences of not keeping your finances in order.
Students will be able to identify all of the different expenditures that may need to be incurred, understand the difference between essential spending and non-essential spending and understand the importance of budgeting and the potential consequences of not.
This resource includes:
Lesson plan PDF
Make Money Make Sense has been developed by Eastbourne Citizens Advice Bureau and East Sussex Trading Standards, providing teachers with all they need to teach the financial literacy aspects of the citizenship curriculum. Download more of its resources here or on its website at moneymakesense.co.uk.
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