Household%20budgets

1
Household budgets

• How to understand them!

2
WALT

• Can I understand how to work out a household
  budget?

3
WILF

• I know what debit and credit mean.
• I can read the problem.
• I can understand the problem.
• I can choose the calculation and calculate.
• I can solve the problem.
• I can answer the question.
• I can check my answer.

4
What is a household budget?

• A household budget is when your parents or carers
  work out how much has to be spent during a week
  or month.
• It can include
• Food
• Clothing
• Energy heating and lighting
• Petrol
• Water
• Entertainment

5
Look at this bank statement.

• A bank statement tells you how much is going in
  and out of your bank account.

Date Code Credit Debit Total
2.2.09 Dentist 850 30 820
3.2.09 Tesco 820 90 730
4.2.09 Garage 730 250 480
6
What do the words mean?

• Credit means when something is paid into your
  bank account. It can also mean that you have
  enough money.
• Debit - means when something is taken from your
  bank account. It can also mean that you owe
  money if you dont have enough.
• Total means how much you have.

7
Can you work this out?

• Mr Jones is paid 300 per week.
• From this he has to pay the following
• Food - 80
• Gas electricity - 25
• Rent - 75
• Petrol 22
• Council tax - 25
• How much money does he have left at the end of
  the week?

8
Were you right?

• Mr Jones has 73 left!
• If the petrol for Mr Jones car went up by 15
  how much more money would he spend?
• How much would he have left now?

9
Can you work this out?

• Mrs. Bentham gets 400 per week. Out of this she
  has to pay the following
• Mortgage - 150
• Food - 90
• Gas electricity - 23
• Bus fares - 20
• Clothes - 50
• Childrens school meals - 27
• Council tax - 22
• How much money does she have left?

10
Were you right?

• Mrs. Bentham has 18 left! Not a lot is it? Out
  of that she has to pay for things her children
  may need, such as school trips.
• Now imagine that her bus fares go up by 5 per
  week.
• How much would she have left then?
• If she decided to walk to work, how much money
  would she save?

11
WILF

• READ THE PROBLEM
• UNDERSTAND THE PROBLEM
• CHOOSE THE CALCULATION AND CALCULATE
• SOLVE THE PROBLEM
• ANSWER THE QUESTION
• CHECK THE ANSWER

12
INDEPENDENT TASK

• Red and yellow groups solve the household
  budget problems on your sheet, work
  independently.
• Blue and Green groups solve the household
  budget problems, work with Miss Hayton.