Budgeting Basics
Grade 12th Grade · Social Studies · 75 min· General Ss.ms.9-12.1
What's Included
Learning Objective
I can create a personal budget that tracks income, expenses, and savings.
Warm-Up Video
Two Cents · 5:13
Budgeting Basics!
Guided Notes
3 key concepts
- 1
According to a 2016 Gallup poll, only 32% of couples keep a written budget of any kind.
- 2
When creating a budget, it is important to categorize your expenses into 5 categories: Essentials, Security, Goals, Lifestyle, and Discretionary.
- 3
To make your budget stick, you should write it down, update it, and use advanced technology such as budgeting apps.
Practice Questions
12 questions · Multiple choice & Short answer
Exit Ticket
Quick comprehension check
“Creating and sticking to a budget can be a challenge. One way to meet the challenge is to set a financial goal for yourself; something you want to spend money on that you can save towards. Set a big financial goal for yourself (how big is individual: is it for a new PlayStation, a car, or a house? Maybe it's for a new bike, or a top-of-the-line fishing rod. Any goal is a good goal!) and explain how you will save money towards meeting that goal.”
Complete Lesson Package
Get all 3 ready-to-use resources:
