Financial literacy is such an important, and often-overlooked, skill to teach our young people. Here is a terrific lesson which has pupils explore how to come up with a personal budget. They consider income, saving, taxes, and their fixed and variable expenses. They come up with a long-term financial goal and develop a budget to manage their spending.

Concepts

budgeting, taxes, expenses, saving money, savings accounts, income, income tax

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Additional Tags

college and career readiness

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Instructional Ideas

• Good lesson to use before the holidays

Classroom Considerations

• There isn't any math calculations
• Review and gather materials prior to teaching

Pros

• A good, solid lesson on financial literacy
• Includes reproducibles and answer keys

Cons

• None