10.4 Lesson 4: Build Your Budget

Last updated about 2 hours ago

8 Nsɛmmisa

Hyɛ no nsow a efi ɔkyerɛwfo no hɔ:

Learning Objectives

Students will be able to:

Create a budget on a salaried adult’s income and adjust it as required
Research and choose appropriate budgeting apps to meet specific needs

National Standards for Personal Financial Education

Spending

1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses
1d: Evaluate the advantages of using budgeting tools, such as spreadsheets or apps

Akwankyerɛ

Learning Objectives

Students will be able to:

Create a budget on a salaried adult’s income and adjust it as required
Research and choose appropriate budgeting apps to meet specific needs

National Standards for Personal Financial Education

Spending

1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses
1d: Evaluate the advantages of using budgeting tools, such as spreadsheets or apps

Intro

Learn It

Do It

10.4 Lesson 4: Build Your Budget

Last updated about 2 hours ago

8 Nsɛmmisa

Hyɛ no nsow a efi ɔkyerɛwfo no hɔ:

Learning Objectives

Students will be able to:

Create a budget on a salaried adult’s income and adjust it as required
Research and choose appropriate budgeting apps to meet specific needs

National Standards for Personal Financial Education

Spending

1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses
1d: Evaluate the advantages of using budgeting tools, such as spreadsheets or apps

Akwankyerɛ

Learning Objectives

Students will be able to:

Create a budget on a salaried adult’s income and adjust it as required
Research and choose appropriate budgeting apps to meet specific needs

National Standards for Personal Financial Education

Spending

1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses
1d: Evaluate the advantages of using budgeting tools, such as spreadsheets or apps

Intro

Analyze the image on the worksheet to answer the questions on this Data Crunch.

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What are the three largest cost categories for the average household?

How much more does the average household spend, as a percentage of their budget, on housing than on food?

What percentage of an average household’s expenses would you consider needs as compared to wants?

What expenses would you expect to stay the same month after month? Which would vary most month to month?

You overhear a friend discuss how Americans are frivolous in their spending and waste lots of money. Use this data on household budgets to argue against his position.

Learn It

You’ve spent a lot of time looking at individual aspects of your budget. Before we actually build a complete budget, take some time to consider apps that might make your budgeting life a little easier. Read the article. Then, answer the questions.

ARTICLE: The Best Budget Apps

Choose one app from the article. Briefly explain how it works and if there are any costs associated with using it.

How do you think using a budgeting app could help you to maintain a budget?

Do It

Now that we’ve learned about all of the different factors that go into creating a budget, it’s time to make one! Follow the directions in the slideshow to complete this activity. You will be prompted to create a budget sheet which you will upload here when done.
Slideshow: https://docs.google.com/presentation/d/1g_QdU1nbvirv6PfVuF1eURKXNsj4FxKMwCvRksayQwo/edit?usp=sharing