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Household budgets

Household budgets. How to understand them!. WALT. Can I understand how to work out a household budget?. WILF. I know what debit and credit mean. I can read the problem. I can understand the problem. I can choose the calculation and calculate. I can solve the problem.

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Household budgets

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  1. Householdbudgets How to understand them!

  2. WALT • Can I understand how to work out a household budget?

  3. WILF • I know what debit and credit mean. • I can read the problem. • I can understand the problem. • I can choose the calculation and calculate. • I can solve the problem. • I can answer the question. • I can check my answer.

  4. What is a household budget? • A household budget is when your parents or carers work out how much has to be spent during a week or month. • It can include: • Food • Clothing • Energy – heating and lighting • Petrol • Water • Entertainment

  5. Look at this bank statement. • A bank statement tells you how much is going in and out of your bank account.

  6. What do the words mean? • Credit – means when something is paid into your bank account. It can also mean that you have enough money. • Debit - means when something is taken from your bank account. It can also mean that you owe money if you don’t have enough. • Total – means how much you have.

  7. Can you work this out? • Mr Jones is paid £300 per week. • From this he has to pay the following: • Food - £80 • Gas & electricity - £25 • Rent - £75 • Petrol – £22 • Council tax - £25 • How much money does he have left at the end of the week?

  8. Were you right? • Mr Jones has £73 left! • If the petrol for Mr Jones’ car went up by £15 – how much more money would he spend? • How much would he have left now?

  9. Can you work this out? • Mrs. Bentham gets £400 per week. Out of this she has to pay the following: • Mortgage - £150 • Food - £90 • Gas & electricity - £23 • Bus fares - £20 • Clothes - £50 • Children’s school meals - £27 • Council tax - £22 • How much money does she have left?

  10. Were you right? • Mrs. Bentham has £18 left! Not a lot is it? Out of that she has to pay for things her children may need, such as school trips. • Now imagine that her bus fares go up by £5 per week. • How much would she have left then? • If she decided to walk to work, how much money would she save?

  11. WILF • READ THE PROBLEM • UNDERSTAND THE PROBLEM • CHOOSE THE CALCULATION AND CALCULATE • SOLVE THE PROBLEM • ANSWER THE QUESTION • CHECK THE ANSWER

  12. INDEPENDENT TASK • Red and yellow groups – solve the household budget problems on your sheet, work independently. • Blue and Green groups – solve the household budget problems, work with Miss Hayton.

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