Mathematics

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50 mins

Teacher/Student led

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Learning Outcomes

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+90 XP

Teacher-led from the board — pupils need no device

What you need:
IWB/Projector/Large Screen

Budgeting, Saving and Simple Financial Plans

Learn to track income, expenses and savings in a simple weekly plan, work out how long it takes to reach a savings goal, and spot when spending is bigger than the money coming in.

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1 Getting Started
2 Watch and Notice
3 Try It Together
4 Draw Your Plan in Your Copy
5 Class Challenge
6 Think It Through
7 What Did We Notice?
8 What's Next
Pupil practice

Your turn

Your teacher is running this lesson on the board. Here is the part you can try yourself.

Your written work is on page 68

Class budget

1 - Getting Started ~4 mins

Illustration for Getting Started You get €20 pocket money each week. There's a game you really want that costs €75.

Roughly how many weeks would you have to save before you could buy it, if you put every cent aside?

👇 Mark your steps as done as you complete them.

+5 XP

2 - Watch and Notice ~9 mins

A simple financial plan has three parts: money coming in, money going out, and what's left to save. In the first plan, €20 comes in, some goes out on spending, and whatever is left is put aside.

In the next plan the spending is bigger than the money coming in. Add the amounts going out and compare them to the €20 coming in: this plan does not balance.

Last one: when you know how much you save each week, you can work out how many weeks a goal will take. Here is a €14-a-week plan for a €70 goal.

👇 Mark your steps as done as you complete them.

+10 XP

3 - Try It Together ~8 mins

Key point

Today we build one weekly plan together on the board. The money coming in is €25, and everything we spend and everything we save has to come out of that €25. We'll decide together what goes out and what is left to save.

Build a €25 weekly plan

+15 XP

4 - Draw Your Plan in Your Copy ~3 mins

COPYBOOK MOMENT

In your maths copy, draw an income, expenses and savings table for a four-week plan and fill in the figures. Then write how many weeks it would take to reach a savings goal you choose.

Week 1
Week 2
Week 3
Week 4

Under the table, write your goal amount and work out: goal ÷ weekly savings = number of weeks.

+10 XP

5 - Class Challenge ~10 mins

Today we work through these savings plans together, each one a step harder:

€30 plan: €10 spending, €20 saved.
€40 plan: three categories that must balance exactly.
€50 plan: every category needs money in it.
€60 plan: three categories that balance exactly to €60.

Tip

The zeros catch people out, so we'll check the total each time before we press Check.

Make the plan balance

+15 XP

Pupil practice

Module 6 · Time and Money Measures

Lesson 73 · Budgeting, Saving and Simple Financial Plans

Download Activity Book page (PDF)

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