Build a budget that survives real life
A useful budget gives every pound a job while leaving room for irregular costs and changes.
Lesson overview
What you'll learn in this lesson
Build and adjust a realistic budget
Key learning points
- • Start with net income
- • Stress-test it
This lesson at a glance
- 25 minutes
- 13 parts to scroll through
- 3 quick checks
- Marked quiz at the end
- Gentle pace: short sittings with pauses
Words to know
Scroll down — the lesson carries on below
Watch & discover
Part 1 of 13
Visual introductionPicture this
Build a budget that survives real life
A useful budget gives every pound a job while leaving room for irregular costs and changes.
In a nutshell
Build and adjust a realistic budget
Explore the idea
Part 2 of 13
Learn
Start with net income
Use the money actually received after deductions. Separate essential fixed costs, changing essentials, savings and discretionary spending.
Explore the idea
Part 3 of 13
Learn
Stress-test it
Add annual costs divided by twelve and a contingency. If spending exceeds income, change the plan before relying on borrowing.
Reset break
Part 4 of 13
Pause
That's sitting 1 of 3 done
Stretch, get a drink, look out of the window. There is no timer and nothing is counting down — your place is saved, so you can come back in five minutes or tomorrow.
Quick check
Part 5 of 13
Quick check
Part 6 of 13
Quick check
Part 7 of 13
Reset break
Part 8 of 13
Pause
That's sitting 2 of 3 done
Stretch, get a drink, look out of the window. There is no timer and nothing is counting down — your place is saved, so you can come back in five minutes or tomorrow.
Challenge round
Part 9 of 13
Game · Sort it
Which of these are true?
Drag each card into the right column. Tap a card first if dragging is fiddly.
True
Not true
Challenge round
Part 10 of 13
Game · Fill the gaps
Finish the sentences
Choose the word that belongs in each gap.
If spending exceeds ____, change the plan before relying on borrowing.
Challenge round
Part 11 of 13
Game · Recall cards
Which income belongs in a budget?
Card 1 of 3
Mastery quiz
Part 12 of 13
Marked quiz
End of lesson quiz: Build a budget that survives real life
3 questions, marked with the reasoning shown. No timer.
1. Which income belongs in a budget?
2. Why divide annual costs by twelve?
3. If spending exceeds income, first…
Lesson round-up
Part 13 of 13
Lesson round-up
Ready when you are
Quiz score
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Points this lesson
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Best run
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Luna: 0 out of 3 on the practice checks. Only if you feel up to it — one more?
Ask LunaPart 1 of 13 · Watch & discover