Resources:

• Coins and notes in various denominations
• Workbooks or other recording method
• List of daily expenses (Food, fuel, clothes, travel etc.)

Learning Outcomes:

Mathematics

Year 3 Measurement

• Add and subtract amounts of money to give change, using both pounds and pence signs in practical contexts

Year 4 Measurement

• Estimate, compare and calculate money in pounds and pence

Steps:

1. Discuss the meaning of the term budget? Do the children know what it is? Where are budgets applied in everyday life? Examples might include parents, the government budget, schools, even pocket money.

2. Write a daily budget figure on the board and show the children a list of daily expenses. Which of those expenses are vital? Is it possible to pay for everything on the list out of their daily budget amount? What do they do if they can’t buy everything in one day? Encourage them to discuss how they have come to their answers. Work through a couple of examples and discuss different ways the problem can be solved.

3. Introduce the money problems sheets. Remind the children to read through the problem carefully and to make notes as they go along. Encourage them to use the coins and notes and support as required.

4. Complete the session by working through some of the problems together.

Extension Ideas:

• Create money problems for each other
• Set their own budget, what do they think they need in a day

Top Tips:

• Be aware of any issues that might arise if parent’s budgets are brought up, particularly in terms of safeguarding.

Find our money products in our Maths resources here:
www.consortiumeducation.com/education/curriculum-resources/maths/money