The Festival

Today we will learn… how to decide if something is ‘value for money’ or not why we use budgets how to read and understand a budget

“Something that is well worth the money spent on it” What is ‘value for money’? “Something that is well worth the money spent on it”

What makes something good value for money? How does it compare to other prices of similar products? Acceptable price Good quality Is it made well? Good customer service? Does it look good? Fit for purpose Does it do what it says it should? Does it work? Durable Will it last? And for how long? Need Do I need it?

Value for money All of these cereals are sold in the same supermarket. The prices for each box are 45p, £1.00 and £2.00. Match the right price with the right box. £1.00 45p £2.00 Click once to reveal the matching prices. All three products are very similar so why are the prices different? In your opinion, which product is the best value for money?

Return flight ticket price to Spain ( £) £300 £400 £500 First class airline ticket £100 £200 £600 £0 Budget airline ticket Standard airline ticket Teacher note: You can use the Value for Money suggested answers sheet to guide this discussion. Why are the prices different? In your opinion, which flight is the best value for money and why?

‘Value for money’ Questions Now using the KidzFest advert and question sheet, answer the questions about KidzFest Be prepared to discuss your answers

Budgeting to go to an event Attending any event, trip or going on holiday can be very expensive because there are often a lot more costs to consider before you go than you might think. To control your costs it is a good idea to keep to a budget to help you keep track of your spending by estimating how much you intend to spend and then trying to stick within this amount. Without keeping an eye on your budget, some people run the risk of overspending.

Reviewing Sam’s budget Actual spend Difference Overspent? Underspent? On budget? BEFORE THE FESTIVAL Festival tickets 170 Camping space 80 Parking 20 New wellies and waterproofs 60 Petrol 40 45 Picnic 25 30 Tent 50 DURING THE FESTIVAL Food and drink 200 275 Souvenirs 100 Total 745 800

Today we have learned… What to look for when thinking about ‘value for money’ why we use budgets how to read and understand a budget