The Great EscapeDario the Apprentice’s Lesson

ObjectiveTo help Dario save enough money to move out of

his parents’ basement and into rented accommodation with his friends.

StarterWhat are the main costs when you rent a property?

Rank these in order of importance – which ones do you need to make sure you pay first?

What might the outcomes be if you cannot pay for each cost?

Dario needs an extra £250 to save for a deposit to move into a flat with his friends. Here are the ways Dario can save money…

Ditch the bus and walk to work

Saving: £3/day

Don’t go out after work on a Friday

Saving: £20/week

Make sandwiches for lunch

Saving: £2.50/day

Sell Xbox

Saving: £150

Week 1 2 3 4 5 6

Money Saved

Can Dario save £250 in 6 weeks or less? Should he make smaller sacrifices for a longer time (and end up living with his parents for longer), or should he make more cuts so that he can move out sooner?

Now that he has saved enough for the deposit, let’s see if Dario has enough to afford the monthly costs of renting. His salary is £800 after tax. His rent will be £340 a month.

Below are some fixed costs for things Dario has to pay for..

Council Tax

£40/month

Gas & Electricity

£50/month

Water

£20/month

Contents Insurance

£15/month

How much do you think he will spend on the essentials below?

Food

?

Travel

?

Clothes

?

Entertainment

?

Can Dario afford to move out of his parents’ house? Would he have any money left at the end of the month for saving?

Group Work

Please discuss the following with a partner / group.

What are the biggest challenges when saving money?

What have you learnt from today’s lesson? How can you transfer some of these budgeting skills to your own life?

Would you chose to live independently on Dario’s wage?