St Malachys Money Management

Where does your money come from?

What do you spend your money on?

• Food

• Games

• Bills

• Other

The two categories for spending that we have considered are...

What is the difference between a want and a need?

Mark spends £30 on groceries every week, he also buys £2 worth of sweets every day and £10 on computer parts every day. How much does Mark spend on his wants each week?

• £50

• £84

• £40

• £134

What is a budget?

• The total amount of money in your bank account.

• The amount of money you can spend before you are in debt.

• The amount of money allocated towards a certain goal.

• Your weekly allowance figure

Would anyone borrow from a loan shark?

• Yes

• No

What are the problems with loan sharks? (select 3)

• Can be unreliable

• Can turn violent

• Often more expensive than bank loans

• Better interest rates than banks

Mr Ping does not have enough money to buy new football boots. Where are a few more reliable places he can go to get money to beable to afford his new boots?

In the future you will need to budget for certain things. Name 3 things that you think you will have to budget for or else things that you budget for today.