Budgeting Activity

This budgeting activity for TY promotes saving, money sense and financial literacy for young people.

Skills: money sense, arithmetic operations, team work, communication, problem solving, planning

Resources needed: paper, pens, internet access

Activity: Budgeting is a very important life skill. Whether you are doing a budget for yourself, for your family, for a company or for a country, it is important to have this skill and Transition Year is a great time to think about the importance of budgeting.

This budgeting exercise is designed to encourage young people to think about the cost of things, how to budget, the importance of saving and the importance of thinking about value for money when they are spending.

A key aspect of the exercise is a general class discussion to find out what everyone learned about budgeting, its importance and where else these skills might be used and also about value for money and how it can be found.

Duration: The exercise is designed to fill 1 class period, but it can be amended to include additional activities if desired.

Have a look at the teacher note. Feel free to use and adapt the PowerPoint presentation (PPTX) we created to assist with this activity.