Banking and budgeting basics

Banking and budgeting basics is one of five lesson plans belonging to our primary school financial literacy content for ages 7-11 in P4-7 or Years 3-6 to teach children about money, whilst developing Core transferable skills. All resources in the suite have been awarded the Young Money Quality Mark. We recommend that you start with Samir’s birthday budget challenge and then complete the remaining four lessons in any order. Alternatively, you can use them as a standalone resource.

The Banking and budgeting basics lesson focuses on supporting children to understand basic banking vocabulary by matching the correct definition to each term, and take their income and expenditure into account to create their own budget. This helps to build positive money habits in the future whilst practising elements of maths.

The activity requires access to a screen and is designed to be completed as a class, either in the classroom or remotely. There is the option to use the short Online lesson film (4 minutes approx.) to deliver the second activity around budgeting and/or issuing the worksheet for independent work.

Resources

Banking and budgeting basics: Lesson plan – for use with a group of students in the classroom or in a remote session
Banking and budgeting basics: Presentation slides – to display to pupils and use alongside the lesson plan, with interactive fields to complete as a class
Banking and budgeting basics: Interactive worksheet – can be provided to pupils so they can follow along and complete the activities in the full lesson plan while working remotely, which can be printed off or completed digitally
Lessons overview and alignment to the Financial Education Planning Frameworks: Guide – discover how this lesson links to the wider Young Money Financial education framework and objectives, and how it can be delivered flexibly alongside the other lessons in this suite
Budgeting basics: Online lesson film – interactive film for remote or in class learning