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Session Five: The Budget Game
Session Five: The Budget Game
Students investigate budgeting and why many people have difficulty staying within a budget.
Students investigate budgeting and why many people have difficulty staying within a budget.
Step 1: Watch the above video.
Step 1: Watch the above video.
Step 2: Review Session 5 Key Words and Objectives below.
Step 2: Review Session 5 Key Words and Objectives below.
Step 3: Download the Sample Budget.
Step 3: Download the Sample Budget.
Step 4: Download the Extracurricular Expenses Worksheet and click on the blue button below to complete the simulation.
Step 4: Download the Extracurricular Expenses Worksheet and click on the blue button below to complete the simulation.
HS1013 Sample Budget.pdfJA_HighSchool_Extracurricular_Expenses.pdfSession 5 Key Terms
Session 5 Key Terms
Budget: A spending plan for managing money during a given period of time.
Opportunity cost: The next best alternative given up when a choice is made.
Expense: Money spent to buy or do something.
Fixed Expenses: Expenses that do not change from month to month, such as rent.
Income: Any money earned or received (wages or gifts).
Variable Expenses: Expenses that vary from month to month, such as entertainment, car repairs, or doctor bills.
Objectives
Objectives
Students will be able to:
Students will be able to:
• Recognize the importance of making and keeping a spending plan.
• Recognize the importance of making and keeping a spending plan.
• Consider the wide range of expenditures that might make up a monthly budget.
• Consider the wide range of expenditures that might make up a monthly budget.
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