BUDGETING 102: SIMPLE BUDGET
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Lesson Objectives
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•
STUDENTS WILL IDENTIFY AND PROVIDE TANGIBLE EXAMPLES
OF EXPENSES AND INCOME.
•
STUDENTS WILL CRAFT A SIMPLE BUDGET BASED ON A STUDENT
SCENARIO AND CONSIDER HOW IT RELATES TO THEIR LIFE.
Breakout 1: Recap and Expense or Income?
(15 minutes)
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Directions: The Trainer will read aloud an expense or income example.
Student teams will “buzz” in with their team sound if they know the
answer. When called upon, one student team will name the type of
expense AND provide an explanation for their answer. Each correct
answer is one point. Complete the “Expense or Income?” handout at the
end of the game.
TEAM 1:
TEAM 4:
TEAM 2:
TEAM 5:
TEAM 3:
TEAM 6:
Breakout 2: Simple Budget Scenario
(25 minutes)
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Directions: You will have 10 minutes to individually complete
the “Simple Budget” handout. Mentors/Trainers will read aloud a
scenario and you will design a budget around that situation,
including calculating the total in the “Cost A” column.
SCENARIO A:
Your parents fully cover
your housing and food. You
earn $200/month from
your part-time job but you
take the bus to get there.
What would you do with
your income?
SCENARIO B:
You work 15 hours/week at
Starbucks and take home $450
monthly. This income contributes
to the partial cost of rent and
groceries and you take the bus to
get to and from work. What
would you do with your income?
SCENARIO C:
You just had a birthday and
received $40. This is the
only money you have
received in a while as you
do not work and do not get
an allowance. What would
you do with your income?
Breakout 2: Simple Budget Scenario
(25 minutes)
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Directions: Your Mentor/Trainer will read of the situations
below. You will have 10 more minutes to adjust your budget
accordingly and log your new numbers in the “Cost B” column.
Once your budget is updated, share how you put your budget
together with your small group.
SITUATION A:
You’ve been getting to work late due
to a recent change in the bus
schedule. Your mom offered to let you
use the family car provided you drop
her off at work and cover the gas.
Adjust your budget given your new
situation.
SITUATION B:
Your family has hit some
hard times and needs
your income to help cover
the cost of utilities. Adjust
your budget given your
new situation.
SITUATION C:
You decided you to save
$30 this month and put
the money into a savings
account. Adjust your
budget given your new
situation.
Reflect and Review
(5 minutes)
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Individually complete your “Student Reflection” handout.
Then spend 2-3 minutes in your small group sharing what
you learned or how you can apply today’s workshop content.
Think about:
• What information resonated with you about today’s
workshop?
• What information was new to you?
• What information was most helpful to learn about? Why?
• What knowledge can you pass on or share with family
members?
Be ready to share your key learnings with the class.
Closing
(2 minutes)
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HOMEWORK: Talk with parent(s) about how they
currently manage their finances. Share 1-2 takeaways
you’ve acquired from this workshop.
PRE-WORK FOR THE NEXT WORKSHOP: