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Here I have created a real world budget project for students to figure out on their own how hard it is to create a budget and try to stay within a monthly budget! It really opens up students eyes as to what it takes to live and use money wisely.
-Real World Budget Project Calculation Sheet
-22 possible job situations (can be edited to add more and you may want to change incomes based on the area you live)
-Directions for students to follow step by step to calculate monthly take home income and monthly expenses (makes students think about every possible thing they may need to spend money on when they are in the real world)
-Family Scenarios (lots of scenarios giving each student a different family. For example: Single with one child and you do not get child support. Must support the child all on your own. Some are simple and some will be harder. You can have the kids pick these randomly OR you can assign them to students after they get their jobs! This is totally up to you.
- Random Events (optional, I let students pick a random event for some extra credit)
There is lots of information here for students to make a budget specifically for their family scenario. There is a chance some students could get a high paying job with a small family where others may get a lower paying job with a lot of family members. You as the teacher can choose to make this completely random, or you can hand choose jobs and family situations per each student you have to make each student have a hardship! It is completely up to you!
My students love this project and thank me for doing something so meaningful for them when we finish :)
DON'T FORGET to download my end of project reflection/assessment available in my store!