Budgets and Financial Planning

What is a budget? Why is it important? Includes real-life costs and promotes healthy discussion around money, saving and debt - Perfect for form time or PSHE lessons.

Students start with the basics of what is a budget and why budgeting is important. This looks into the sort of expenditures and outgoings students might expect when they leave school. As well as the average costs of some of these things.

Moving into creating a budget for themselves. Students are able to follow a simplified model of a budget to choose future options for themselves before seeing the financil impact of these choices.

This is aims to promote healthy discussion around choices such as how education impacts their future finances, and the cost of material goods (e.g. mobile phones).

There is then an in-depth lesson provided for financial planning. This includes discussion around saving, debt and interest. As well as differentiated tasks on how to calculate compound interest.

Budgeting tips are provided throughout.