Real-Life Money Management

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Objective

I can create a realistic budget and adjust it based on simulated real-life financial scenarios at different stations.

Part 1 of 3

Warm-up video

Unknown Channel · 5:00

We don't generate video — this one is by Unknown Channel 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 3

Practice

6 questions

1

Regarding the 50/30/20 rule for budgeting as described in the video, give an example of a "need," a "want," and a "saving/investment" for a teenager.

2

Describe a situation where you might need to adjust your budget. What factors would you consider when making these adjustments?

Part 3 of 3

Exit ticket

Quick comprehension check

Create a budget for someone who earns $150 per month using the 50/30/20 rule. Then, imagine they unexpectedly have to spend $20 on school supplies. Adjust the budget to reflect this new expense, explaining which category you reduced and why. Create a budget for someone who earns $250 per month using the 50/30/20 rule. Then, imagine they get a raise and now earn $300 per month. Adjust the budget to reflect this new income, explaining how you allocated the extra money. Create a budget for someone who earns $100 per month using the 50/30/20 rule. Then, imagine their phone bill increases by $10 per month. Adjust the budget to reflect this new expense, explaining which category you reduced and why.

Sample answer included in the free materials

Get the materials

Teacher guide, student handout, and slides — free, in Google Docs format

  • Teacher Guide

    Complete lesson plan with answer keys and alternate activities

  • Student Handout

    Printable worksheet

  • Slides

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