🎯 Goal: Make a simple spending plan for your own money.
You can make a spending plan: predict income and spending, prioritize needs then wants, always set aside savings.
Let’s explore
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A spending plan predicts ahead: how much comes in, what you will spend on.
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Prioritize needs first, then wants, and always set aside some savings.
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At week/month end, compare plan vs reality and adjust.
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How to plan: (1) Add weekly income. (2) Subtract needs (food, transport). (3) Split the rest between wants and savings. Example: income 70,000d − needs 30,000d = 40,000d left → save 20,000d, wants 20,000d.
Practice activity
🗒️ Plan this week’s pocket money in order of priority.
Worked example: You have 70,000d this week. Plan: breakfast 30,000d (need), a comic 20,000d (want), save 20,000d. At week’s end check whether you stuck to the plan.
Quick quiz
1. A spending plan is?
→ Predicting income and spending
2. A plan should prioritize?
→ Needs first
3. At period end you should?
→ Compare plan vs reality
4. Income 70,000d, needs 30,000d, how much left to split?
→ 40,000d
5. If each month money out exceeds money in, the plan is?
→ In deficit — cut spending or earn more
6. A plan should always set aside?
→ Savings
🎯 Real-life mission
Make a spending plan for next week before you start spending.