Core Skills Analysis
Mathematics
Mia added together all of her monthly income sources and then summed each category of her outgoings. She subtracted the total expenses from the total income to determine the amount of money left for the month, practicing multi‑step arithmetic and the use of subtraction with large numbers. By calculating the percentage each expense represented of her total income, she reinforced her understanding of ratios and percentages. This activity showed Mia how to apply mathematical operations to a real‑world financial problem.
Business Studies
Mia examined her personal cash flow by listing incomes and outgoings, identifying which categories consumed the largest share of her budget. She recognised the concept of surplus (money left over) and the importance of tracking financial information regularly. This analysis gave her a practical introduction to budgeting, financial planning, and the basic principles of managing personal finances. Through the activity, Mia experienced how individuals make economic decisions based on income and expense data.
English Language Arts
Mia recorded her monthly financial data in a clear, organized format and wrote brief notes explaining where her money went and why. By summarising her findings, she practiced concise informational writing and the use of precise vocabulary such as "income," "outgoings," and "surplus." She also interpreted numeric information to communicate a financial story, strengthening her ability to translate data into written explanations. This reinforced her skills in structuring a report and presenting facts accurately.
Information and Communication Technology (ICT)
Mia arranged her income and expense figures into a simple table, which could be created on paper or a spreadsheet program. She used the grid to sort categories, perform calculations, and visually compare amounts, gaining experience with data organisation tools. The activity introduced her to basic digital literacy skills such as entering data, using formulas, and formatting tables for readability. Mia therefore practiced using ICT to support mathematical and analytical work.
Personal, Social, Health and Economic Education (PSHE)
Mia reflected on her spending habits and considered how her choices affect the amount of money she has left each month. She learned the value of responsible money management, goal‑setting, and making informed decisions about discretionary purchases. By reviewing her budget, she developed self‑awareness about financial priorities and the long‑term impact of saving versus spending. This activity supported her development of practical life skills and financial wellbeing.
Tips
To deepen Mia's financial literacy, have her create a visual budget board using coloured stickers or a digital pie‑chart to see which expenses dominate. Organise a role‑play shopping trip where she must stay within a set budget, encouraging negotiation and priority‑setting. Invite a family member to discuss how household budgeting works and ask Mia to compare her personal budget with the family’s approach. Finally, set a short‑term savings goal (e.g., for a new book) and let her track progress weekly, reinforcing goal‑oriented planning.
Book Recommendations
- The Money Book for Kids by DK: A bright, illustrated guide that explains earning, saving, spending, and budgeting in kid‑friendly language.
- One Cent, Two Cents, Too Much! by Bonnie Bilyeu: A story‑based exploration of money concepts that helps young readers understand value, saving, and wise spending.
- The Everything Kids' Money Book by Brette Sember: Practical tips, activities, and real‑life examples that teach children how to manage allowance, set goals, and track finances.
Learning Standards
- National Curriculum – Mathematics: Number (NCF1) – uses addition, subtraction, and percentages in real‑life contexts.
- National Curriculum – Business Studies (Key Stage 3): Understand basic financial concepts such as income, expenditure, and budgeting.
- National Curriculum – English: Writing (NCF2) – produce clear, factual information using appropriate terminology.
- National Curriculum – ICT: Use ICT to organise, present, and analyse data (NCF5).
- National Curriculum – PSHE (Key Stage 3): Develop personal finance skills and make responsible financial decisions.
Try This Next
- Design a printable budgeting worksheet where Mia fills in income, fixed costs, variable costs, and calculates net savings.
- Create a short quiz with questions like “If Mia earned £250 and spent £175, what percent of her income did she save?”
- Ask Mia to draw a pie chart of her expense categories and label each slice with the corresponding percentage.
- Write a reflective journal prompt: “What spending habit would you change next month and why?”