Budgeting Unit

Students will be able to:

• List the different categories of expenses
• Explain how four different budgeting strategies work
• Weigh the pros and cons of each budgeting strategy

Students will be able to

• Understand how consumers allocate their average annual budget across different spending categories
• Prioritize multiple factors when deciding where to live
• Identify ways to reduce expenses associated with renting 
• Explain how to save money when shopping at a grocery store
• Compare the unit prices of grocery items before making a spending decision 
• Create a roommate agreement to share the costs associated with living together

Students will be able to:

• Compare the popularity of various transportation methods in the United States 
• Explore how access to different transportation options can vary based on geographic location 
• Identify ways to reduce their transportation costs 
• Understand the financial implications and overall tradeoffs of using different transportation options

Students will be able to:

• Create a budget on a salaried adult’s income and adjust it as required
• Research and choose appropriate budgeting apps to meet specific needs

Students will be able to:

• Describe the purpose of a budget 
• Classify expenses as needs and wants
• Explain the difference between gross pay and net pay

Students will be able to:

• List the different categories of expenses
• Explain how four different budgeting strategies work
• Weigh the pros and cons of each budgeting strategy

Students will be able to:

• Prioritize many factors when deciding where to live
• List important considerations before signing a lease
• Determine whether they are prepared to purchase a home
• Factor in how utilities will affect their budget
• Create a roommate agreement to share the costs associated with living together

Students will be able to:

• Compare the popularity of various transportation methods in the United States 
• Explore how access to different transportation options can vary based on geographic location 
• Identify ways to reduce their transportation costs 
• Understand the financial implications and overall tradeoffs of using different transportation options

Students will be able to:

• Estimate the costs of buying food
• Explain how to save money when shopping at a grocery store
• Detail strategies for lowering a dining out budget
• Explain how inflation affects one’s ability to budget for food

Students will be able to:

• Understand the various challenges people may face when trying to stick to their budgets
• Explain how a minimum wage is different from a living wage
• Identify ways people can budget with a limited or variable income 
• Explore government benefits offered to help people meet their basic living expenses 

Students will be able to:

• Create a budget on a salaried adult’s income and adjust it as required
• Research and choose appropriate budgeting apps to meet specific needs