Get Real Budget Workshop!!

* 1 Hour workshop

* Applicable to students regardless of how much previous financial education they have learned

* Able to accommodate groups of any size

What’s it all about?

Quick exercise engages all students

* Interactive

* Students make an actual budget based on the information they are given

* Introduces realistic salaries/income and expenditures for Louisiana

* Reinforces importance of graduating high school and its impact on:

- Earning potential- Available job opportunities

Workshop Goals for students

* Salaries and expenses are based on Louisiana’s wages and cost of living

* Student loan debt is included for groups who have higher education in their packet

* Each packet is based on a single person entering their fields (about mid-20’s)

* Each group has a list of jobs available for the educational level of their packet

Realistic

* We are role-playing how this works in classroom - We are the “teacher” - You are the “students”

* Normally this takes 1 hour with students, we’ll do it in 8 minutes

* We’re moving fast! Get help by raising your hand and Jump$tart will be walking around

Overview

*Break into teams and assign a team captain to read the packet to the group

*EACH person in the group has a budget worksheet and must fill it out completely

Ready, Set, Get Real!

* Pay attention to whether your data is weekly/monthly/annually

*Use basic math to calculate your MONTHLY budget

* Round your decimals up or down to keep whole numbers

Things to Know

We’ll let you know when we

are at half-way point and 2 minutes to go

Any questions?

Remember:Round decimals up or down

Work as a team to get your budgets filled out

We’re here to help!

Get Ready…… Go!

.

2 Minutes to go!

Report Out &

Discussion

DONE!

1) Each captain would stand and read their cover page (list applicable jobs) and final budget amount

2) Teacher writes that educational level on board and the amount “left over” in the budget

In the Classroom

No HSD or GED

HSD or GED

Some College

Associate’s Degree

-$615 $117 $314 $503

Budget Outcomes

Bachelor’s Degree

Master’s Degree

Doctoral Degree

Professional Degree

$890 $1,076 $1,667 $2,052

* Explain that everyone had same regular expenses

* Only difference is higher education level budgets included the corresponding student loan payment

* Salaries and expenses are realistic for our area

Class Debrief

* Pose questions to the class - How many of you thought this was a pretty “bare budget?”

- Who’s surprised at the difference in salary between having and not having a high school diploma?

- The amount you have left over each month is what you can spend on “extras” or “wants”

Class Discussion: 1 of 2

*Ask the class: How many of you would like to

-spend money on travel or vacation?

- have video games, an iPad, an iPhone or a Wii?

- buy Christmas or birthday presents?

- eat out or go to movies or have a date?

- have a family one day? (average baby costs $7,000/yr)

- what are some other things you enjoy now that you don’t want to have to give up?

- look at your budget and decide what would you give up if you’re income was low because you had not graduated high school- what would you let go?

Class Discussion: 1 of 2

Please fill out the workshop evaluation form and leave it with me on your way out.

Put what you’ve learned into practice—you can do it!

THANK YOU!

Please share your feedback!