Starter quiz
- The government writes a Spring and Autumn ______ to plan how to raise and spend taxes.
- deficit
- budget ✓
- plan
- tax
-
- True or false: Adults pay some of the money they earn back to the government to help to fund things like education and the NHS.
- True ✓
- False
Some pupils are going on a school trip. The total cost is £2,500 and they have raised £1,750 so far. What does the ? represent in the bar model?- deficit ✓
- budget
- plan
- tax
-
- What is the value of the deficit in the bar model?
- '£750' ✓
- The pupils have 20 weeks to raise the £750 so how much money do they need to raise each week?
- '£37.50' ✓
- If there are 30 children trying to raise the £750, how much money would each child need to raise?
- '£25' ✓
Exit quiz
- Is this always, sometimes or never true? The value of something is how much money it is worth.
- Always
- Sometimes ✓
- Never
-
- Which word describes something you might buy now, keep safe and hope that it is worth more money in the future?
- A valuable
- An investment ✓
- A budget
-
- Value for money means ______
- To invest in something in the hope of making a profit.
- When you feel that what you have bought is well worth the money you spent. ✓
- You give some of your money to someone else.
-
Football boots are on special offer - Buy one pair and get the second pair half price. How much are you saving if you buy two pairs?- '£14.25' ✓
- Aisha says that she is going to buy just one pair.. Why do you think she has made this decision?
- I only need one pair. ✓
- I don’t like football.
- The shop is trying to make me spend more money. ✓
-
- The school has a budget to buy a set of football boots for the team. Should they take the shop up on the offer?
- Yes ✓
- No
-
Worksheet
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Video
Lesson Details
Key learning points
- Value for money can mean feeling you are getting more for your money or the best deal.
- Calculations can help you to work out what is good value for money.
- Value for money can be a personal matter or getting what you really want.
- Some things we spend money on might be an investment for the future.
Common misconception
Pupils might believe that every deal is a good one and that value is only about the cost of something.
This lesson gives pupils time to discuss what they think is valuable and then to calculate offers and decide if it is a good deal and gives them value for money.
Keywords
Value - The value of something is how much it is worth in money or other things for which it can be exchanged.
Value for money - Value for money is when you feel that what you have bought is well worth the money you have spent.
Invest / investment - To invest in something is to buy something in the hope of making a profit in the future. It is also called making an investment.
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