Budgeting Pocket Money

Life SkillsMoney & FinanceAges 7–9

What a budget is; planning how to spend a fixed amount of pocket money or allowance; making trade-offs between different things you want to buy

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Plan within a fixed amount and explain a trade-off.

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Create a simple spending plan for £10 showing what they would buy and how much is left
Explain what a budget is and why it helps to plan spending
Identify a trade-off (choosing one thing means not having enough for another)

“If your child had £10 to spend at a school fair, could they plan in advance what to spend it on so the money lasts?”