Lesson Notes By Weeks and Term v5 - Grade 6

Lesson Video

This page supports the lesson note with a companion video and a short classroom-ready summary.

For class groups and homework, share this lesson page so learners also get the summary, objectives, and full lesson context.

Performance objectives

• Define budget, income, expenses, saving, and wants vs. needs.
• Create a simple personal budget.
• Explain the importance of saving money.
• Differentiate between needs and wants.
• Identify ways to earn money ethically.

Lesson summary

This week, we'll be focusing on managing money responsibly. In South Africa, understanding how to handle money is incredibly important. Many families face financial challenges, and learning these skills early can help you make smart choices now and in the future. Whether it's saving for a school trip, buying airtime, or contributing to household needs, responsible money management empowers you to make positive decisions and contribute to a more secure future for yourself and your community. We will explore budgeting, saving, and making wise spending choices, all of which are vital skills for life in South Africa.

Lesson notes

What is a Budget? A budget is a plan for how to spend your money. It's like a roadmap that shows where your money comes from (income) and where it goes (expenses). Creating a budget helps you control your money and make sure you're not spending more than you earn.

Example: Imagine your income is your weekly pocket money from your parents. Your expenses could be buying sweets, airtime for your phone, or contributing to a school project. A budget helps you decide how much of your pocket money should go to each of these things.

Income: This is the money you receive. For Grade 6 learners, common sources of income might include: Pocket Money: Regular money given by parents or guardians.

Gifts: Money received for birthdays or special occasions.

Earning Money: Doing chores or small jobs for neighbours or family (e.g., washing cars, gardening – always with parental permission and supervision).

Expenses: This is the money you spend.

Expenses can be divided into: Needs: Things you must have to survive and stay healthy.

Examples: Food, school supplies, clothing (especially for school), transportation to school.

Wants: Things you would like to have, but are not essential for survival.

Examples: Sweets, toys, the latest cellphone games, expensive clothes just because they are fashionable.

Saving: Saving is putting money aside for the future. It's like planting a seed that will grow into something bigger later on. Saving can help you achieve your goals, like buying a new bicycle, going on a school trip, or even paying for further education in the future. Needs vs.

Wants: Understanding the difference between needs and wants is crucial for responsible money management. Prioritizing needs over wants ensures you have the essentials covered before spending on non-essential items.

Examples: Need: A school uniform.

Want: A branded pair of sneakers.

Need: Nutritious food for lunch.

Want: A packet of chips and a fizzy drink every day. Why is Saving Important?

Reaching Goals: Saving helps you achieve your goals, whether it's buying a new soccer ball or paying for a trip.

Unexpected Events: Life is full of surprises. Having savings can help you handle unexpected expenses, like needing to replace a broken school bag or contributing to a family emergency.

Financial Security: Saving creates a sense of security and reduces stress about money.

Ethical Considerations for Earning Money: If you're earning money (e.g., through chores), it's important to do so ethically.

This means: Being Honest: Don't cheat or mislead people to earn money.

Working Hard: Provide good service for the money you earn.

Respecting Others: Don't exploit or take advantage of others for financial gain.

Safety First: Always prioritize your safety and well-being when earning money. Never do anything that makes you feel uncomfortable or unsafe. Get parental permission before doing any paid work. Guided Practice (With Solutions)

Question 1: Sarah receives R50 pocket money each week. She spends R20 on airtime and R15 on snacks. How much money does she have left to save?

Solution: Income: R50 Expenses: R20 (airtime) + R15 (snacks) = R35 Savings: R50 (income) - R35 (expenses) = R15 Answer: Sarah has R15 left to save.

Question 2: David wants to buy a soccer ball that costs R

1

2

0. He saves R20 each week. How many weeks will it take him to save enough money?

Solution: Target Savings: R120 Savings per Week: R20 Weeks to Save: R120 / R20 = 6 Answer: It will take David 6 weeks to save enough money.

Question 3: Identify whether each item is a "Need" or a "Want": a) School shoes b) A new video game c) A healthy lunch d)

Designer jeans Solution: a) School shoes - Need b) A new video game - Want c) A healthy lunch - Need d)

Designer jeans - Want Question 4: Thando earns R30 a week for helping her neighbour with gardening. She wants to save R200 for a school trip. How many weeks will it take her to save enough, if she saves all her earnings?

Solution: Target Savings: R200 Savings per Week: R30 Weeks to Save: R200 / R30 = 6.67 weeks. Since she can't save for a fraction of a week, she'll need 7 weeks to have enough saved.

Answer: It will take Thando 7 weeks to save enough money. Independent Practice (Questions Only) Sipho receives R40 pocket money per week. He spends R10 on sweets, R15 on airtime, and saves the rest. How much does he save each week? Maria wants to buy a book that costs R

8

5. She saves R15 each week. How many weeks will it take her to save enough money? List three examples of needs for a Grade 6 learner in South Africa. List three examples of wants for a Grade 6 learner in South Africa. Lebo earns R25 a week for washing her mother's car. She spends R10 on snacks and saves the rest. How much will she have saved after 4 weeks? John's cellphone needs repairs that will cost R

1

5

0. He earns R30 a week mowing the lawn. How many weeks will he need to work to afford the repairs? A school outing costs R

3

5

0. You save R50 a week.