Maths KS3 / GCSE: Creating a budget
Adina Campbell helps student Katherine take charge of her finances by creating a budget.
They discuss essential and non-essential expenditure and work out ways to reduce spending.
This clip is from the series Made of Money.
Discuss what is meant by budgeting.
Give students some examples of people with different budgets.
Challenge them to work out how much each person could afford to spend on essentials and luxuries.
They could investigate common expenditure such as typical rental or mortgage rates in their local area, the cost of monthly bills, and food prices.
Which characters have spare money left over each month? Which characters are struggling to afford their essentials? What could help them?
Students could keep a log of their own income and spending.
Try using spreadsheets, graphs and other representations of data to examine their income and expenditure over a certain period of time.
Suitable for teaching Maths at KS3 and GCSE in England, Wales and Northern Ireland and National 4 and 5 in Scotland.