Planning and budgeting | Financial education | Quizalize & Oak National Academy

Starter quiz

Aisha has £2.25 to spend in the local café. Which of the following options can she afford?
- Tea and coffee ✓
- Tea and cake
- Tea and shortbread ✓
- Squash and cake
Andeep has £3.75 to spend in the local café. Which of the following options can he afford?
- Tea and cake
- Coffee and apple pie
- Squash and apple pie ✓
- Coffee and cake
Izzy has £4.20 to spend in the local café. Which of the following options can she afford?
- Tea and cake ✓
- Coffee and apple pie ✓
- Squash and apple pie ✓
- Coffee and cake
Jacob has £5 to spend in the local café. He buys a mug of hot chocolate and a muffin. What change does he receive?
- '40 pence' ✓
Jun has £10 to spend in the local café. He buys two cups of coffee and a cake. What change does he receive?
- '£4.35' ✓
Lucas has £12 to spend in the local café. He buys a cup of squash, two mugs of hot chocolate, a muffin and a cake. What change does he receive?
- '£1.45' ✓

Exit quiz

A ______ is a record of all transactions that occurred during a set period of time.
- 'bank statement' ✓
A ______ is a way to manage your money. It can be used to keep track of your expenditure and make sure that it does not exceed your income.
- 'budget' ✓
Sofia is budgeting and has realised her outgoings exceed her earnings from her part-time job. Which of the following would you suggest she cancel, in order to manage her money?
- her weekly bus pass
- her music streaming subscription ✓
- her monthly mobile phone bill
- her monthly chocolate subscription box ✓
Laura's parents want to save for a family holiday. Which of the following outgoings could they cancel, in order to increase their savings?
- Mortgage payments
- Council tax
- TV subscription service ✓
- Car insurance
Sam's uncle has a full-time job. He typically spends £150 a month on buying his lunches from a stall near his work. What could he do to reduce the amount of money he spends on lunch each month?
- Buy lunch from a more expensive place
- Bring in his own lunch from home ✓
- Buy his lunches from a supermarket which offers meal deals ✓
- Subscribe to a lunchbox delivery service, costing £40 per week
Sam's uncle will work 20 days this month. He typically spends £150 on lunches in a month. Which option(s) would reduce what he spends on lunches this month?
- Buying lunch from a supermarket offering a £6 meal deal each day ✓
- Buying lunch from a stall with an average lunch price of £7.50 per lunch
- Subscribing to a lunchbox delivery service, costing £40 per week
- Meal-prepping lunches in advance, spending £5.50 on groceries per lunch ✓

Worksheet

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Lesson Details

Key learning points

There are a range of ways to plan and keep track of personal finances.
A proactive approach to managing money can be taken if personal finances are tracked and circumstances change.
Budgeting plays an important role in saving for unexpected emergencies.

Common misconception

A bank statement is the only way to keep track of your money.

Visual representations can be useful for viewing and interpreting large amounts of data and can be used to see the proportion of income spent on different areas over a set period.

Keywords

Bank statement - A bank statement is record of all transactions that occurred during a set period of time.
Budget - A budget is a way to manage your money. It can be used to keep track of your expenditure and make sure that it does not exceed your income.