Household budgets
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Transcript of Household budgets
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Household budgets
How to understand them!
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WALT
• Can I understand how to work out a household budget?
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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.
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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
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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
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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.
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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?
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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?
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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?
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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?
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WILF
• READ THE PROBLEM
• UNDERSTAND THE PROBLEM
• CHOOSE THE CALCULATION AND CALCULATE
• SOLVE THE PROBLEM
• ANSWER THE QUESTION
• CHECK THE ANSWER
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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.