I have recently finished a budgeting activity with my grade 8 math class titled, “Making Ends Meet”. (The document is attached below.)
Each student was given a “job” with an entry level salary. The first step was for them to determine their after-tax monthly income. They then needed to determine how they were going to allocate their income to the following categories:
- Food
- Housing
- Utilities
- Transportation
- Medical Expenses
- Entertainment
- Sports/Fitness
- Clothing
- Miscellaneous
- Savings
Students came into class with a report that outlined the distribution of income in their budget. For the summative task they were then presented with a series of challenges and unexpected problems to consider. These were not shared with the students beforehand.
It was a time consuming task, but well worth the learning experience. My students now have a sense of the value of the dollar, the importance of getting a good job, and the reality that life is more costly then they realized.
Have a great week.
