What would you buy if you were given £100 per month for the next three months?
Use the sliders below to decide how you'd spend £100 this month. Try to use all of it!
We all spend money, but what we spend it on varies. Spending can be split into needs and wants.
Click an item, then click the correct bucket.
It's not always just our own needs and wants that determine how we spend. We can be influenced in many ways.
Click an influence on the left, then its description on the right.
The internet has transformed how companies reach us. Understanding digital marketing helps you make smarter choices.
A budget is the best way to keep your finances in check. It helps manage the balance between your income and your outgoings.
Committed spending = spending you need to make. Discretionary spending = spending you don't need to make but might want to.
Awurabena recently got her first job after university on a graduate training scheme earning £1,540 per month. Let's build her budget.
Fill in each expense (monthly). The calculator will work out the totals for you.
Total expenditure: £1,631.37
Deficit: £91.37 per month — she is spending more than she earns!
Can she save £150/month for a car? Not currently. She could:
Total savings: £279/month — enough for the car and possibly insurance.
The word "budget" can also mean less expensive. One way to stay within your means is to use cheaper alternatives. Price is not necessarily a guarantee of quality or value.
Calculate how much you can save just by switching the type of brand you buy.
The table shows prices per item. Work out the weekly cost (quantity × price) for each brand type.
| Product | Qty/week | Luxury | Supermarket | Value | Luxury Cost | Supermarket Cost | Value Cost |
|---|---|---|---|---|---|---|---|
| Baked beans | 4 | £1.04 | £0.65 | £0.23 | £ | £ | £ |
| Cereal | 1 | £3.65 | £2.21 | £1.68 | £ | £ | £ |
| Crisps | 6 | £1.20 | £0.99 | £0.45 | £ | £ | £ |
| Batteries | 2 | £3.95 | £2.89 | £0.99 | £ | £ | £ |
Weekly totals: Luxury £22.91 | Supermarket £16.53 | Value £7.28
Yearly totals (52 weeks): Luxury £1,191.32 | Supermarket £859.56 | Value £378.56
Yearly saving (luxury → supermarket): £331.76
Yearly saving (luxury → value): £812.76
The unit price is the cost per litre, kilogram, etc. While one product might look more expensive, if you're getting more of it, it might be better value.
Calculate the cost per 100g for each chicken option.
| Chicken | Price | Cost per 100g | Best deal? |
|---|---|---|---|
| 200g | £4.50 | £2.25 | |
| 500g | £6.00 | £1.20 | |
| 1kg | £10.00 | £1.00 | Best deal |
| Eggs | Price | Cost per egg | Best deal? |
|---|---|---|---|
| 12 eggs | £3.80 | 31.7p | |
| 9 eggs | £2.70 | 30.0p | Best deal |
| 6 eggs | £2.20 | 36.7p |
When you buy online, you are covered by the Consumer Rights Act and the Consumer Contracts Regulation 2013.
Read each statement and decide whether it is true or false.
| False Statement | Why It's Incorrect |
|---|---|
| The store tells you to complain to the manufacturer about a faulty kettle. | Your contract is with the retailer. It is their responsibility to deal with it. Sale goods still have to be fit for purpose. |
| You lost the receipt so you can't return faulty trainers. | Goods are not fit for purpose. Having no receipt is not a problem because you used a debit card, so the bank has a record (proof of purchase). |
| You can return a book from an online auction like a bookshop. | Auction purchases are second-hand sales. If the seller hasn't misled you, your rights end there — caveat emptor (buyer beware). |
Test your knowledge with these 20 questions. Click Submit Quiz when you're done.