- Eight page pack, with cover page
-Allows student to figure out basic monthly and yearly cost of living expenses
-Allows student to figure out an annual income (you give them an hourly wage to work with)
-Students will decide things like how pricey of an apartment they will rent, if they will share expenses with a roommate, what their mode of transportation will be, how many loads of laundry they need to pay for each week, will they choose to pay for Internet at home, etc. Estimated cost of all these and more are provided.
-Allows student to figure out car insurance estimates
-Worksheets I made to figure all these numbers out - then compare the cost of living expenses to their annual wage (based on an hourly wage you supply them with)
-Distinguishes 'wants" from 'needs' for students
-One activity is getting a car insurance quote from online (Geico has an easy way to do this) so students will need Internet access for this (IF they choose to have a car in the little scenario they create for themselves)
-There is math involved in this lesson
-I designed this based on Alaska costs (Anchorage). You can change the numbers to fit whatever city/cities you will have your kids looking at. Cost of living is high in Alaska, so you could probably just lower all the numbers a bit and it would be a reasonable estimate. I actually went online and got estimated costs for everything (apartments, laundromats, Internet, bus passes, etc.) but being that precise is not necessary.
-When I do this activity (with my students who live in a highly remote village) I give my students jobs with an hourly wage, varying from minimum wage to a few dollars above. Something they could get right out of high school. This way they see how hard it is to live at that wage, gives them a wake up call if they are not in touch with reality.
The message being - get SOME additional training or other education after high school so you are not struggling all your life! I use it every year, I love this little unit. If you teach kids who are college bound, you can easily adjust this to fit that population
This is a Word doc so you can make all the alterations you want so it fits your population!!