1. The Festival

2. 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

3. “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”

4. 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?

5. 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?

6. 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?

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

9. 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.

10. 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

11. 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