Students will complete the personal budget worksheet using data from the first worksheet and making choices. Students must make changes to their budgets, if their budget exceeds their income, and reflect on their budgets and their forced choices.
Before the Activity
See the attached Activity PDF file for detailed instructions for this activity.
Print the appropriate pages from the Activity for your class.
Distribute a copy of the Personal Budget worksheet to each student or cooperative group. Remind students to complete the budget in pencil, because they may have to make changes.
During the Activity
Distribute the appropriate pages from the Activity to your class
Follow the procedures outlined in the Activity
Determine monthly gross and net income from various jobs.
Calculate the cost of a home at various mortgage rates.
Calculate the cost of car payments over various time periods.
Create a personal budget after evaluating data.
Validate comprehension of personal finance and budgets.
After the Activity
Lead a class discussion using the Debriefing Guide for Activity 2 as a guide. Inform students that they will be assessed on the knowledge that they have acquired
over the last few days.