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Simple Budget Planning

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Simple Budget Planning

Read each question carefully. Use Australian dollars ($) for your calculations.

Needs and Wants

A need is something important for everyday life or learning. A want is something nice to have.

1.A school lunch helps you have food during the day. Is it usually a need or a want?
  • Need
  • Want
2.A toy dinosaur is fun to play with. Is it usually a need or a want?
  • Need
  • Want
3.Pencils help you do your classwork. Are they usually a need or a want?
  • Need
  • Want
4.A packet of lollies is a treat. Is it usually a need or a want?
  • Need
  • Want
5.If you have a limited amount of money, what is a sensible order for spending it?
  • Pay for needs first, then consider wants
  • Buy wants first and hope there is enough left
  • Spend it all on treats

Plan a $20 Shop

Use the price list for the next questions. You have $20 to spend.

Item: Lunch Price: $6

Item: Pencils Price: $3

Item: Toy dinosaur Price: $8

Item: Stickers Price: $2

6.Add the cost of a lunch and pencils. How much do they cost altogether?
7.Buy a lunch for $6, pencils for $3 and stickers for $2. What is the total cost?
8.You spend $11 from your $20 budget. How much money is left?
9.You have $20, and the toy dinosaur costs $8. What is a sensible choice?
  • Buy it and keep the remaining $12 for later
  • Spend all $20 on it
  • Borrow money to pay more than its price

Spend Thoughtfully

Think about ways to make careful choices with money.

10.Draw one idea for using money carefully, such as saving some or choosing a need before a want.

3 printable pages

  • Simple Budget Planning, page 1 of 3: Needs and Wants

    Page 1

  • Simple Budget Planning, page 2 of 3: Plan a $20 Shop

    Page 2

  • Simple Budget Planning, page 3 of 3: Spend Thoughtfully

    Page 3

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