To help learners understand different types of income and expenses, how they affect financial decisions, and how to track them for better money management.
0:00–0:05 – Welcome Back & Recap of Module 1
0:05–0:15 – Defining Income: What Counts?
0:15–0:20 - Understanding your paycheck
0:20–0:30 – Types of Expenses: Fixed vs. Variable
0:30–0:40 – Activity: Income & Outgoings Sort
0:40–0:50 – Group Discussion: "Where Does My Money Go?"
0:50–0:55 – Reflection: What Surprised You?
0:55–1:00 – Summary & Preview of Module 3
1:00-1:03 - Careers Reflection
Section 5 Income and Outgoings
Section 1: Welcome & Recap
Start by revisiting key takeaways from Module 1. Ask: “What’s one small money habit you noticed this week?” Set the tone for practical, honest discussion.
Section 2: What Is Income?
Define income as money coming in—from work, benefits, gifts, or side jobs. Write examples on a board. Ask learners: “Where does your money come from each month?” Normalise all types of legal income.
Section 3: Understanding your pay check
Gross pay = before deductions
Net pay = what you take home Common deductions: tax, National Insurance, pensions
Tax codes affect how much tax is taken
Ask learners:
“What’s one thing you always check on your payslip?”
Quick activity (handout):
Use a sample payslip – ask learners to find gross pay, net pay, and one deduction.
Section 4: What Are Expenses?
Introduce expenses as money going out. Discuss fixed costs (same each month, like rent or mobile bills) vs. variable costs (change monthly, like food or leisure). Use real-life examples.
Section 5: Activity – Income & Outgoings Sort
Provide cards or a worksheet with mixed items (e.g., wages, rent, takeaways, Universal Credit, fuel). Learners sort them into two categories: income and expenses, and then label each as fixed or variable. Discuss answers together.
Section 6: Group Discussion – Where Does My Money Go?
Ask: “Which expenses take up most of your money?” Facilitate an honest, supportive chat about spending choices, surprise costs, or habits that learners want to change.
Section 7: Reflection – What Surprised You?
Invite learners to jot down or share one thing they hadn’t noticed before about their money. Emphasize: awareness leads to change.
Section 8: Summary & Look Ahead
Reinforce key ideas:
Section 9: Careers Reflection
Mark Tuson is a Team Leader at RHS. Mark discusses what he does in his role. What job within the horticultural industry might you interested in exploring?
Instructor Guidance
Wrap up by reminding learners that tracking income and expenses is the first step to financial control. Ask: “What’s one thing you learned or will do differently?” Keep responses brief and positive. Preview next session: “Now that you know what’s coming in and going out, how can you start planning ahead?”
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