Budgeting 101
2021.03.01 11:40 am - 12:21 pm
Teaching point: How do we classify expenses into needs vs. wants?
Agenda
Agenda
Do Now and Review (5 - 10 minutes)
Do Now and Review (5 - 10 minutes)
What is a budget? (5 minutes)
What is a budget? (5 minutes)
Needs Vs. Wants (5 minutes)
Needs Vs. Wants (5 minutes)
Ranking Wants (10 - 15 minutes)
Ranking Wants (10 - 15 minutes)
Closure (5 Minutes)
Closure (5 Minutes)
What is a Budget?
What is a Budget?
Watch the video to be able to answer the questions.
Watch the video to be able to answer the questions.
-What is a budget?
-What is a budget?
-As a teenager, why might creating a budget be important?
-As a teenager, why might creating a budget be important?
Needs vs. Wants
Needs vs. Wants
A key part of creating a budget that works for you is distinguishing your needs from your wants. Watch this video to learn more about the two. Then, answer the questions.
A key part of creating a budget that works for you is distinguishing your needs from your wants. Watch this video to learn more about the two. Then, answer the questions.
- When deciding if you should buy something, what can you ask yourself to determine if the item is a need or want?
- Why do you think people spend so much money on their wants despite the financial costs?
Results Review
Results Review
Let's review our results to see what we value as a class.
Let's review our results to see what we value as a class.