Module 3: Budgeting Basics

Instructor Guidance:

Section 1: Warm-Up – Budget Quiz
Start with a quick 5-question true/false quiz to activate prior knowledge. Sample: “A budget helps you avoid debt – True or False?” Use humour and explanation to clarify misconceptions.

Section 2: What Is a Budget?
Define a budget as a plan for how to spend and save your money. Show a simple example on a board or screen (e.g., £800 income, £600 expenses, £200 balance). Emphasise that budgeting helps with control, planning, and avoiding stress.

Section 3: Budget Building Blocks
Review the two sides of a budget:

• Money In – wages, benefits, support
• Money Out – rent, food, travel, leisure
  Ask: “What might happen if expenses are higher than income?” Guide discussion gently.

Section 4: Activity – Create Your Own Budget
Distribute the “My Budget Sheet” handout. Support learners to fill in real or realistic income and outgoings. Offer sample figures if needed. Walk around and give support individually as needed.

Section 5: Share & Compare 
Invite learners to compare budgets with a partner if they’re comfortable. Ask: “What did you learn from your budget? Was anything surprising?” Encourage practical ideas—cutting costs, prioritising, etc.

Section 6: Summary & Reflection
Wrap up by reinforcing that budgeting is about choices and control, not restriction.
Ask: “What’s one thing you could start doing this week to improve your budget?”

Section 7: Careers Reflection

Matt Smith is a Control and Instrumentation Engineer at Rolls Royce SMR. Matt discusses what he does in his role. What job within the nuclear industry might you be interested in exploring? Connect the skill to the workplace. Ask: “How could budgeting help you if you get a new job?” Discuss costs like commuting, lunches, uniforms, etc.