Section outline

  • Learning Intentions
    To understand the importance of budgeting and wisely managing money

    Success Criteria
    I can explain what a budget is and why it's important top have one.

    Notes

    To help you make good financial decisions, it's important to know how much money you will have to spend and will receive over the next few week/month/year.
    A budget is an estimate (guess) of your spending and income over the next period of time. It shows if you will have money left over or will have not enough money.

    Expenses are 'outgoings' (spending). Some are essential (eg rent, interest) and must be paid and some are discretionary (eg cinema tickets, holiday) and can be delayed until a later time.
    In a budget, some expenses are fixed (don't change) over a period of time (eg insurance payments) and some are variable (different each week) eg food and clothes spending). 


    Activity
    An online activity to help you understand the challenges of having no job or low wages http://playspent.org/

    Moneytime online course
    Over this term, we'll be working through activities in the Moneytime online finance package.
    Follow the instructions below to register an account.


    Activity
    Complete the Moneytime modules on earning, saving and interest: