1. Your Finances LEARNING OBJECTIVE To be able to construct a personal budget that takes into account personal remuneration and expenditure.

2. Starter 1. ‘3.8 million children in the UK live in poverty.’ 2. ‘Most families own a car.’ 3. ‘Some parents in the UK only have £19 a day to cover electricity, gas, phones, other bills, food, clothes, washing, transport, health needs and activities.’ 4. ‘About 7,700 children in the UK can’t afford a healthy diet.’ 5. ‘Despite our wealth, our country currently has one of the worst rates of child poverty in the European Union – ranked 21 out of 27.’ 6. ‘About 85% of parents with less money find that paying for school uniform is the most expensive thing related to bringing up a child.’ 7. ‘About 650,000 UK kids live in homes that aren’t heated properly.’

3. 1. TRUE 2. FALSE 3. TRUE 4. FALSE 5. TRUE 6. FALSE 7. TRUE What shocks you’re the most? Starter

4. Main Activity Find a Family –You need a dad/mum/sister/brother In these groups you will be given an envelope containing everything about your family. e.g. Household income You will then need to decide as a family: O Where you live O Holiday O Cars O Christmas Presents O Weekly shopping basket REMEMBER YOU MUST BUDGET FOR THE UNEXPECTED!

5. Family 1 O Has a household income of £30,000

6. Family 2 O Has a household income of £43,592

7. Family 3 O Has a household income of £80,000

8. Unexpected… O One parent has been made redundant O You won the lottery! Extension- how much money is left to spend at the Christmas Shop – can everybody get what they want??

9. Christmas Shop What would you like to purchase? New Bike Books Gift Card Games Console Music Trainers Jewellery

10. Middle Class O The average Briton works full-time and earns £24,744 O Has a household income of £43,592 O Drives a Ford, Vauxhall or Toyota and has one car in their household O Lives in a detached home worth £278,714 with three bedrooms O Is married O Holidays in short-haul destinations on a self-catering basis O Has an average of £25,963 in savings or investments

11. Plenary Make a mini-poster addressing the following: O Why is budgeting important? O What are the advantages and disadvantages of budgeting? O 5 Top Tips for budgeting your money.