Business Studies · 1st Year

Active learning ideas

Income and Expenditure

This topic focuses on the flow of money into and out of a person's life. Students learn to identify various sources of income, such as wages, pocket money, and state benefits like Child Benefit. They also learn to categorize expenditure into regular, irregular, and discretionary spending. This distinction is crucial for financial planning and aligns with Learning Outcomes 1.2 and 1.3 of the Junior Cycle specification.

• NCCA Curriculum Specifications
• Junior Cycle Business Studies LO 1.2
• Junior Cycle Business Studies LO 1.3

• 20–45 min
• Pairs → Whole Class
• 3 activities

Activity 01

• Stations Rotation
• 35 min · Small Groups

Stations Rotation: Income and Expense Sorting

Set up stations with cards representing different financial events (e.g., 'Paid €20 for a bus ticket', 'Received €50 for birthday'). Students rotate through stations to categorize each as income or expenditure, and then further classify the expenses as regular, irregular, or discretionary.

What are the different sources of personal income?

• Remember
• Understand
• Apply
• Analyze
• Self-Management
• Relationship Skills

Activity 02

• Think-Pair-Share
• 20 min · Pairs

Think-Pair-Share: The Spending Diary

Students look at a sample three-day spending diary of a fictional teenager. They work in pairs to identify 'leaks' where money is being spent unnecessarily and suggest ways to convert discretionary spending into savings.

How can we effectively track our daily spending?

• Understand
• Apply
• Analyze
• Self-Awareness
• Relationship Skills

Activity 03

• Inquiry Circle
• 45 min · Small Groups

Inquiry Circle: Sources of Income

Groups research different ways people in Ireland earn money, including employment, self-employment, and investment. They create a poster or digital presentation showing the difference between gross income and net income (take-home pay).

What is the difference between regular and irregular expenditure?

• Analyze
• Evaluate
• Create
• Self-Management
• Self-Awareness

A few notes on teaching this unit

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Watch Out for These Misconceptions

• All money received is 'profit' or available to spend.

  Students often forget about deductions like tax or PRSI. Using a simple role-play of a 'payday' where a portion of their 'salary' is taken for the 'government' helps them understand the difference between gross and net income.

• Irregular expenditure is the same as discretionary expenditure.

  Students may think if a bill doesn't come every week, it's optional. Peer discussion comparing a car insurance bill (irregular but necessary) to a concert ticket (discretionary) helps clarify that timing does not determine necessity.

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Methods used in this brief

• Stations Rotation
• Think-Pair-Share
• Inquiry Circle