Budgeting in 9th Grade

High SchoolFinancial Literacy #4

(Microsoft, 2011 )

Pre-Test

1. What are the three keys to keeping a budget?

2. What are the two main categories of a budget?

3. What is the most important key to keeping a budget?

Objectives

• Keys to a Good Budget• Sample Monthly Budget: 9th Grader • Plan for a Monthly Budget

Review Last Lesson

1. Website that helps students estimate their college financial aid package– FinAid

2. Types of financial aid that many students get– Work Study, Scholarships, Grants

3. A good word to type in a college’s Search field to get financial aid information– Calculator

Teenagers and Money Video

Which teenagers on the video do you think manage their money well? Which teenagers do not do this well?

Keys to a Good Budget

1. Set Goals– Balance Income and Expenses

2. Create and Modify Your Budget– Always look for ways to make your budget better

3. Follow Through– Most important– Make budgeting a habit

1. Money Earned– Landscaping/Lawn Service– Babysitting– Restaurant: Bussing tables staff, dishwasher

2. Allowance– Monthly amount from your parents

3. Other– Birthday or Christmas money– Interest from savings account

Income (Money Earned)

1. Entertainment– Movies, Sporting Events, Snacks, Pizza Parlor

2. Clothes – May not spend money on clothes every month

3. Transportation– Help friends with gas money, Bus

4. Technology – Video Games, Download Music

5. Savings

Expenses

• 9th grader • How much money the student earns varies– Between $100 - $125 a month– Babysitting and dishwashing job: hours vary

• Set a saving’s goal for $45.00 a month

Sample Monthly Budget

Sample Monthly Budget Income

Sample Monthly Budget Income

Sample Monthly Budget Income

Interview a Partner

• What are some new ways you can earn money as a 9th grader?

• How much money do you hope to save monthly?

• On a scale to from one to ten, how well do you think you will follow through using a budget? Why?

Classroom Discussion

• What are some new ways you can earn money as a 9th grader?

• How much money do you hope to save monthly?

• On a scale to from one to ten, how well do you think you will follow through using a budget? Why?

Post-Test

1. What are the three keys to keeping a budget?

2. What are the two main categories of a budget?

3. What is the most important key to keeping a budget?

Review

1. Three keys to keeping a budget• Set goals• Create and modify your budget• Follow through

2. Two main categories of a budget– Income and Expenses

3. Most important key to keeping a budget– Follow through