Budgeting Pocket Money
CONCEPTUALWhat 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
Mastery Evidence
- 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 [child] had £10 to spend at a school fair, could they plan in advance what to spend it on so the money lasts?”
Prerequisites3
- Needs & WantshardAges 5—7
- Buying ThingssoftAges 5—7
- Saving MoneyhardAges 5—7
Show full prerequisite tree
- What Money Is hard
Must understand money exists and is limited before distinguishing needs from wants
- Coins & Notes hard
Must recognise coins/notes and their values before practising buying transactions
- Reading and writing numbers to 20 hard
Recognising coin values requires reading numerals (1, 2, 5, 10, 20, 50)
- How Many in Total? hard
Reading/writing numerals 0–20 requires understanding that numerals represent quantities (cardinality)
- One-to-one counting hard
Cardinality principle builds on one-to-one correspondence — you must count correctly to know the last number tells 'how many'
- Writing digits 0-9 hard
Writing numerals requires the motor skill of forming digits 0-9 (taught in English handwriting)
- What Money Is hard
Must understand what money is before learning to recognise specific coins and notes
- What Money Is hard
Must understand money exists and is limited before distinguishing needs from wants
Unlocks3
- Borrowing & DebtsoftAges 9—11
- Making a Simple PlansoftAges 7—9
- Financial PlanninghardAges 9—11