Money aspirations and budgeting

This lesson contains content from a lesson previously titled Money skills lesson two: Value for money, find out about the updates here.

This lesson features in the financial education scheme of learning for 11-14 year olds. A ready-made sequence of curriculum linked resources to help you build progression in your learners' knowledge over time. Visit the Scheme of learning homepage to support with your planning.

The Money aspirations and budgeting lesson focuses on reflecting on money aspirations with your students, before exploring the logistics of budgeting. They will learn how to keep and stick to a budget using case study examples as well as building their own budget.

Resources

• Money aspirations and budgeting: Lesson plan - for use with a group of students in the classroom.
• Money aspirations and budgeting: Presentation slides - to display to students and use alongside the lesson plan.

Lesson learning outcomes

By the end of the lesson students will:

• Understand the difference between income and expenditure.
• Have completed a sample budget and considered the results.
• Have reflected on their own spending patterns and influences.

They also develop students’ core transferable skills such as problem solving and communication. 

These resources align to the Young Money Financial Education Planning Framework and have been awarded the Young Money Quality Mark.

Enhance your students' knowledge of the topic further by heading to BBC Teach and watching films which cover topics such as budgeting, saving, debt and understanding credit.

Why not include financial capability as a focus in your students’ wider curriculum? Refer to our Content guide to find out how LifeSkills resources can be used in PSHE or Maths 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.