Managing money and budgeting

Being able to create a budget and save money can help young people feel more confident about finances and plan for the short and long term.

The activities on this page cover creating a budget, managing bills, as well as discussing the results of not managing money effectively.

 Teaching resources:

• Managing money and budgeting: Lesson plan and presentation slides – full lesson plan for use with a group of students in the classroom

Lesson plan

(30 - 150 minutes)

This lesson is designed to help students understand how budgeting and saving regularly can help with effective money management. It also explores the importance of prioritising bills and understanding income and expenditure.

By the end of this lesson students will be able to:

• Practise how to effectively budget
• Identify bills they may need to pay and when to pay them
• Recognise the impact of poor money management

Further support for developing financial capability in your students

Follow this lesson with further money skills lessons for this age group, which cover 'Finances in the world of work' and 'Planning your finances for the future'. You’ll also find another interactive worksheet and an online lesson film alongside the 'Financial survival skills' lesson. Why not build financial capability as a focus in your students’ curriculum? Refer to our Content guide to find out how this LifeSkills resource can be used in lessons.

If you want to increase your own confidence to teach young people about money, Young Money provide free e-learning training to teachers across Primary and Secondary education.  In addition, National Numeracy has a free website which helps you practise and refresh your everyday maths skills.