1. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. Budgeting Monthly Budgeting Needs & Wants www.mathsrevision.com Saving Problems Budgeting for a Trip

2. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com 1.Two numbers add to give 12 and divide to give 3. Find the two numbers. 2. Two numbers subtract to give 5 and multiply to 24. Find the two numbers. 3. Make your own question up.

3. N4 LS 22-Jun-16Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1.To understand the important of managing money. 1.We are learning to manage money. 2.Solve simple problems involving saving money. Budgeting Savings

4. N4 LS Budgeting Savings 22-Jun-16Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Why save ? Phone Trainers Computer game Holidays New bike For something in the future

5. N4 LS www.mathsrevision.com Kayleigh saves £20 a week so she can buy a new bicycle costing £450. (a) Can she afford it after 22 weeks ? Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016created by Mr. Lafferty @ www.mathsrevision.com 19 x 20= £ 380Savings total = 450 - 380 = £70 Budgeting Savings (b) For how many more week does she need to save. 70÷20 = 3.5 Another 4 weeks No !

6. N4 LS www.mathsrevision.com Kyle saves £25 a week to buy a £198 jacket. Hannah saves £30 a week to buy a £270 dress. Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016created by Mr. Lafferty @ www.mathsrevision.com 198 ÷ 25 = 7.92 weeks Kyle Budgeting Savings Who will be able to buy their item first and by how many weeks ? Kyle got item first by a week. 270 ÷ 30 = 9 weeks Hannah

7. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. Now Try TJ N4 Lifeskills Exercise 1 Ch29 (page 230) www.mathsrevision.com Budgeting Savings

8. N4 LS Starter 22-Jun-16Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com What do these phrases mean ? They are not your pals Save for a rainy day Better in your pocket than theirs. Don’t fritter your money away

9. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1. We are learning how to save for a trip. 1. Understand the importance of saving to enable to afford trips. Budgeting Saving for a Trip

10. N4 LS www.mathsrevision.com In school pupils normally get the chance to go on various School trips e.g. Skiing in Italy, Disneyland Paris, New York etc..... Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016created by Mr. Lafferty @ www.mathsrevision.com Get a part time job Save some of your pocket money Budgeting Savings Who do you think should pay for you to go ? How can you help ? List a few options Cut back on things you don’t need Wash cars Deliver papers Use initiative Cake/Candy Raffle

11. N4 LS 22-Jun-16Created by Mr.Lafferty Maths Dept www.mathsrevision.com Budgeting Needs & Wants Work in pairs to complete the sheetsheet

12. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. Now Try TJ N4 Lifeskills Exercise 2 Ch29 (page 231) www.mathsrevision.com Budgeting Saving for a Trip

13. N4 LS Starter 22-Jun-16Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com What do these phrases mean ? They are not your pals Save for a rainy day Better in your pocket than theirs. Don’t fritter your money away

14. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1. We are learning how to mange a monthly budgets. 1. Understand the key features of a monthly budget. Budgeting Monthly 2. Be able to work with monthly budgets.

15. N4 LS www.mathsrevision.com Most people who have a job get paid monthly or 4 weekly. Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016Wednesday, June 22, 2016created by Mr. Lafferty @ www.mathsrevision.com Budgeting Monthly Savings Everyone needs to manage their money so they don’t get into debt which can lead to serious problems. What does Income and Expenditure mean ? Most of their wages are taken up with expenses. Spreadsheets are one of the best ways to track your Income and Expenditure over a monthly period.

16. N4 LS 22-Jun-16Created by Mr.Lafferty Maths Dept www.mathsrevision.com Budgeting Monthly Wages Child Benefit Child Tax Credit Working Tax Credit Food Gas & Electric Rent TV Internet Mobile Phone Car Loan & Petrol Insurance Credit Card Clothes Give some examples of Income and Expenditure

17. N4 LS 22-Jun-16Created by Mr.Lafferty Maths Dept www.mathsrevision.com Budgeting Needs & Wants Work in pairs to complete the sheet

18. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. Now Try TJ N4 Lifeskills Exercise 3 Ch29 (page 233) www.mathsrevision.com BudgetingMonthly

19. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com 1.Two numbers add to give 11 and divide to give 10. Find the two numbers. 2. Two numbers subtract to give 1 and multiply to 42. Find the two numbers.

20. N4 LS 22-Jun-16Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1.Understand the difference between Needs & Wants. 1.We are learning the difference between “Needs & Wants” Budgeting Needs & Wants 2. Be able to correctly identify Needs & Wants in a context.

21. N4 LS Starter Needs 22-Jun-16Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Make a list of what you need to live ? Clothes Water Accommodation Food Gas / Electricity Money

22. N4 LS 22-Jun-16Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Make a list of what you want to live ? Cinema Fast Food Latest Gadget TV Bike Car Starter Wants

23. N4 LS Budgeting Needs & Wants 22-Jun-16Created by Mr. Lafferty Maths Dept. Now Try TJ N4 Lifeskills Exercise 4 Ch29 (page 234) www.mathsrevision.com Have you updated your Learning Log ?