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Household budgets How to understand them!
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Household budgets

Jan 03, 2016

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Household budgets. How to understand them!. WALT. Can I understand how to work out a household budget?. 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. - PowerPoint PPT Presentation
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Page 1: Household budgets

Household budgets

How to understand them!

Page 2: Household budgets

WALT

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

Page 3: Household budgets

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.

Page 4: Household budgets

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

Page 5: Household budgets

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

Page 6: Household budgets

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 don’t have enough.

• Total – means how much you have.

Page 7: Household budgets

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?

Page 8: Household budgets

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?

Page 9: Household budgets

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• Children’s school meals - £27• Council tax - £22• How much money does she have left?

Page 10: Household budgets

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?

Page 11: Household budgets

WILF

• READ THE PROBLEM

• UNDERSTAND THE PROBLEM

• CHOOSE THE CALCULATION AND CALCULATE

• SOLVE THE PROBLEM

• ANSWER THE QUESTION

• CHECK THE ANSWER

Page 12: Household budgets

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.