Session 3: Income and expenditure recording

Objective:

  • To understand and analyse income and expenditure of the family (own) budget.
  • To introduce simple recording format for household (own) account/business income and expenditure account
  • To give an idea on how to plan the family (own) budget regarding future events and financial requirements.

Activities:

  1. Introduction: Ask participants how many of them keep record of household or personal income and expenses. Ask participants how many of them know or have an idea of their monthly income and expenses.
  2. Games: Create a group and assign each member a family member role. Give each family a card depicting their monthly income. Distribute cards with monthly income and illustrations of expenses. Request that they pick up cards for household expenditure items that are anticipated to be consumed within a month. Ask to write the amount of each expenditure item. Make presentations on behalf of each group. The group is required to justify their allocation of funds to each item. Then, calculate the total amount of expenses and the balance to determine whether or not there is a deficit. In the event that any group is in deficit, ask participants which item should be reconsidered or if there are alternative solutions.
  3. Importance of income and expenditure record keeping: Ask them what they discovered during the game activity. Summarise the advantages of maintaining income and expenditure records.
  4. Introduction of recording format: Explain to the participants how to fill out each column of the recording format. Perform a mock exercise in front of the participants. Ask them to begin practicing immediately.
  5. Summary: Summarise the benefits of income and expenditure recording again.

Duration: Total 65 minutes

  • Introduction (5 mins)
  • Development -Games, Importance of income & expenditure recording, Introducing the recording format (55 mins)
  • Conclusion (5 mins) 

Training materials