Entrepreneurship · lesson 13 of 24 · free

Budgets — Entrepreneurship for kids

A budget is a plan for your money before you spend it. List one-time costs (a folding table, a banner, a cash box — bought once, used again and again) and running costs (lemons, cups, card paper — bought again for every batch). Add them up and compare with the money you have: what is left = budget − costs. If the costs are more than the budget, cut something or start smaller.

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Business tip

Plan before you spend — “list one-time and running costs, then check the budget”

  1. One-time cost: bought once and used many times. Running cost: bought again for every batch.
  2. Money left = budget − all the costs. Total budget needed = materials for every item + one-time costs.
  3. Greatest number you can buy = money ÷ price of one, rounded down to a whole number.

Use it for: Planning a stall, a class event, a project or your own pocket money.

Worked example: Farhan’s stall budget is ₹640. A price board cost ₹200, sugar cost ₹140 and seeds cost ₹20. How many rupees of the budget are left? → 280

  1. Spent: 200 + 140 + 20 = 360.
  2. 640 − 360 = 280.

Check: Try it: write a budget for your idea with two one-time costs and three running costs ✓

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🏁 Lesson 13 test

20 questions. Check each answer, then go to the next one. Get 16 or more right to pass.

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🖨️ Entrepreneurship Worksheet: Business Budget

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