Week 8
The Real Game - Budget
The start of this week saw us getting familiar with how to write a budget based on the money that you earn per week. I think it was really interesting to see how well you all reflected on actually how difficult it is to work these things out, and that things may not be as fun as you think they could be when you reach the adult working world. However in saying this, I was very impressed with you ability to work within your budget, and to work together with your peers to get houses sorted, flatting, renting etc. These terms are all so vital for the future and I hope that this basic lesson was a good introduction to being able to do this in the future.
PAYE and Renting
We have had lots of questions regarding how the money and budget activity from earlier on in the week compares to the real life and in Christchurch. So as a result of these discussions we completed a scenario based around earning minimum wage for 40 hours a week, and working out how much money you bring home after tax. The PAYE website is really good for working out income in this situation. Then, the class were asked to find an appropriate flat that they would live in, work out if they could afford it, as well as a car, groceries, power, sky and internet (the bills most were familiar with). This task was once again a good way for you to work through the money and how far it goes, or doesnt go, and being told to consider life in your 30'S, with 2 children in your care continues to embed the money side of things, and how important education is to improve this.
The start of this week saw us getting familiar with how to write a budget based on the money that you earn per week. I think it was really interesting to see how well you all reflected on actually how difficult it is to work these things out, and that things may not be as fun as you think they could be when you reach the adult working world. However in saying this, I was very impressed with you ability to work within your budget, and to work together with your peers to get houses sorted, flatting, renting etc. These terms are all so vital for the future and I hope that this basic lesson was a good introduction to being able to do this in the future.
PAYE and Renting
We have had lots of questions regarding how the money and budget activity from earlier on in the week compares to the real life and in Christchurch. So as a result of these discussions we completed a scenario based around earning minimum wage for 40 hours a week, and working out how much money you bring home after tax. The PAYE website is really good for working out income in this situation. Then, the class were asked to find an appropriate flat that they would live in, work out if they could afford it, as well as a car, groceries, power, sky and internet (the bills most were familiar with). This task was once again a good way for you to work through the money and how far it goes, or doesnt go, and being told to consider life in your 30'S, with 2 children in your care continues to embed the money side of things, and how important education is to improve this.
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