BUDGETING 102: SIMPLE BUDGET 1. STUDENTS WILL IDENTIFY AND PROVIDE TANGIBLE EXAMPLES OF EXPENSES AND INCOME. STUDENTS WILL CRAFT A SIMPLE BUDGET BASED.

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Presentation transcript:

BUDGETING 102: SIMPLE BUDGET 1

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. Lesson Objectives 2

Breakout 1: Recap and Expense or Income? (15 minutes) 3 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 2: TEAM 3: TEAM 4: TEAM 5: TEAM 6:

Breakout 2: Simple Budget Scenario (25 minutes) 4 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) 5 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) 6 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) 7 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: