Simple Budgeting

Year Level

Year 6 (ages approximately 10-11)

Duration

60 minutes, class of 25 students

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Lesson Overview

This is Lesson 4 in the unit "Budgeting Basics for Kids".

Lesson Title: Creating a Simple Budget

Lesson Description:
Students will be guided through the process of creating a simple budget. They will learn to identify sources of income, list expenses, and decide how to allocate funds effectively. This lesson is designed to build foundational financial literacy skills aligned with the New Zealand Curriculum Refresh, especially in the domain of financial mathematics and social sciences.

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Curriculum Alignment

Learning Area & Strand

• Social Sciences / Business Studies: Understanding Economic World
• Mathematics and Statistics: Financial Mathematics

Achievement Objectives

From the New Zealand Curriculum Refresh for Year 6:

• Mathematics and Statistics - Financial Mathematics

  • Create simple financial plans (e.g., shopping lists, a family budget)
  • Solve problems involving money transactions and purchases
  • Represent money values in multiple ways using notes and coins
  • Investigate practical situations involving calculating costs and change

• Social Sciences - Business Understanding

  • Understand the role of money management in everyday life
  • Participate in decision-making regarding personal or family spending and saving
  • Explore economic concepts such as income, savings, and expenses

Key Competencies Developed

• Thinking: Students use problem-solving to allocate limited funds effectively.
• Using Language, Symbols and Texts: Working with numerical data, budgeting templates, and money concepts.
• Managing Self: Planning and managing a simple personal budget.
• Relating to Others: Sharing and discussing budgeting decisions with peers.
• Participating and Contributing: Collaborating in class budgeting activities.

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Learning Intentions

WALT (We Are Learning To):

• Understand the concepts of income and expenses
• Organise money into a simple budget
• Make decisions about how to allocate money effectively

Success Criteria

By the end of this lesson, students will be able to:

• Define income and expense with examples
• List typical income sources and expenses for a child (e.g., pocket money, gifts, school supplies)
• Use a budgeting template to allocate money to various expense categories
• Explain why budgeting helps manage money and avoid overspending

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Resources

• Play money or real New Zealand notes and coins
• Simple budgeting templates (paper or digital)—with sections for income, expenses, and balance
• Whiteboard and markers
• Printed word cards or slides with income and expense examples
• Dyslexia-friendly font handouts with clear, short sentences and visual icons

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Lesson Plan Outline

1. Introduction (10 minutes)

• Recap prior lessons on money and saving.
• Engagement question: "Where does money come from? How do we decide what to spend it on?"
• Introduce vocabulary:
  • Income: Money you receive (e.g., pocket money, gifts)
  • Expenses: Money you spend (e.g., snacks, games, school supplies)
• Use visual aids and play money to demonstrate these concepts.
• Use dyslexia-friendly reading cards for definitions with pictorial support.

2. Group Discussion and Sorting Activity (10 minutes)

• In small groups, students sort cards showing different money examples into two piles: Income or Expenses.
• Each group shares their choices and reasoning with the class.
• Teacher corrects misconceptions and reinforces definitions.

3. Creating a Simple Budget (25 minutes)

• Teacher models a simple budget on the board with a hypothetical income (e.g., $20).
• Students receive a budgeting worksheet with:
  • Total income
  • Categories of expenses (food, toys/games, savings, charity, others)
• Students individually allocate money amounts to each category so the total does not exceed income.
• Encourage students to think about spending priorities and saving.
• Walk around to assist, using guiding questions: "How much do you want to save? What must you spend money on first?"
• Older or advanced learners can use trial and error to optimise their budgets or add percentage calculations.

4. Sharing and Reflecting (10 minutes)

• Invite volunteers to share their budgets and explain choices.
• Discuss how different students prioritised expenses and savings.
• Discuss why budgeting is important and how it helps financial decision-making.
• Teacher summarises key learning points.

5. Extension Activity (Optional for advanced learners / home learning)

• Challenge advanced learners to create a weekly or monthly budget including variable income (e.g., gift money) and unexpected expenses (e.g., broken school supplies).
• Incorporate simple percentage calculations for savings (e.g., save 10% of income).
• Use spreadsheets or digital tools if available.

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Assessment

• Monitor participation in sorting activity and class discussion.
• Check completed budgeting worksheets for understanding of income, expenses, and correct summation.
• Use questioning during reflection to assess conceptual understanding.

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Differentiation and Accessibility

• Dyslexia-friendly resources using:
  • Clear fonts like OpenDyslexic or Comic Sans
  • Use of colour coding income vs expenses
  • Short, simple sentences with icons
• Provide step-by-step scaffolding during the budget worksheet activity.
• Additional adult or peer support for students needing help with reading or basic maths.
• Challenge advanced students with extension activities above.

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Reflection and Connections

• Connect to students’ own experiences: pocket money, gifts, family budgets.
• Link to social science concepts of responsibility and decision-making.
• Highlight financial skills for real life.

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Timing Summary

Activity	Minutes
Introduction	10
Sorting Activity	10
Budget Creation	25
Sharing and Reflection	10
Extension Activity (Optional)	Flexible

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This lesson plan is designed to engage Year 6 students in active learning about budgeting, using practical activities and language accessible for their level, aligned closely with the refreshed New Zealand Curriculum for Mathematics (Financial Maths) and Social Sciences (Business understanding) .

If you require further detail or printable templates for the budgeting worksheet or dyslexia-friendly resources, I can also assist!