Analyzing John's Budget
- Price per Classroom$2.00
- Grade Levels 7, 8, 9, 10
- Topics Budgeting
- Duration 20 Minutes
- Auto Scored? Yes
- Teacher Evaluation Needed? No
Activity Description
Students will use this interactive worksheet to understand the monthly budget of a hypothetical person Mr. John. Through hands-on activities, they will learn to categorize expenses, interpret a doughnut chart representing spending patterns, and critically evaluate John's financial situation.
Students will also understand short and long-term goals, how to fit savings plans into a budget etc.
This activity aims to enhance students' financial literacy and budgeting skills, equipping them with valuable life skills for making informed financial decisions.
Learning Objective
This activity is designed to help students develop the skills necessary to analyze a budget effectively. The primary objectives are to teach students how to categorize expenses into relevant categories, interpret visual representations like doughnut charts to understand spending patterns, and critically assess an individual's financial situation.
Teacher Tips
- Price per Classroom$2.00
- Grade Levels 7, 8, 9, 10
- Topics Budgeting
- Duration 20 Minutes
- Auto Scored? Yes
- Teacher Evaluation Needed? No
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National Standards in Personal Financial Education
Students will know that Creating a budget can help people make informed choices about spending, saving, and managing money in order to achieve financial goals .. Students will use this knowledge to 8-1a . Identify personal goals for spending and saving . 8-1b . Create a budget that includes expenses and savings out of a given amount of income . 8-1c . Explain why people with identical incomes make different choices for spending, saving, and managing money . 8-1d . Discuss the budgeting challenges faced by people living on minimum wage .