Budgeting Basics
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Objective
I can create a personal budget that tracks income, expenses, and savings.
Part 1 of 4
Warm-up video
Two Cents · 5:13
We don't generate video — this one is by Two Cents on YouTube. The practice questions and exit ticket below were drafted by AI for this objective, and every question is editable in the teacher guide.
Part 2 of 4
Key concepts
3 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.
Part 3 of 4
Practice
12 questions
According to the video, what percentage of couples keep a written budget?
The video outlines 5 categories for expenses. List 3 of them.
Part 4 of 4
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.”
Sample answer included in the free materials
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Teacher guide, student handout, and slides — free, in Google Docs format
Teacher Guide
Complete lesson plan with answer keys and alternate activities
Student Handout
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