Life Skills·Money & Finance·conceptual
Budgeting Pocket Money
What a budget is; planning how to spend a fixed amount of pocket money or allowance; making trade-offs between different things you want to buy
Suggested ages 7–9
Evidence of understanding
- Create a simple spending plan for £10 showing what they would buy and how much is left
- Explain what a budget is and why it helps to plan spending
- Identify a trade-off (choosing one thing means not having enough for another)
Assessment prompt
If Budgeting Pocket Money had £10 to spend at a school fair, could they plan in advance what to spend it on so the money lasts?
Standards alignment
No external standards are linked to this topic.