For starters, teens don’t have enough experience with budgeting to do mind budgeting. Some adults can get away with it because they’ve been at this for decades. Of course, not everyone finds budgeting exciting, but it doesn’t have to be scary. I’ve found that making it fun and interesting is the key to teaching kids about these principles. Plus, if they understand it now, it will come more easily to them when they get older, and they can start their adulthood off on the right track.
Fortunately, there are fun and easy ways to help you improve your personal finance skills, including playing financial literacy games. Moreover, through this activity, the individual would learn more about budgeting as they will be fed with information related to debts, expenses, and much more. Planning a budget for someone else can also give insights to individuals which can help them with their own budgeting, and savings. This section is all about offering awesome budgeting worksheet printables to go along with budgeting activities for high school teens.
It also helps set a budget for meals thereby encouraging to live a budgeted lifestyle through financial planning. No matter which budget planner you decide to use, take some time to tweak your approach and adjust your spending as needed until you reach your ideal budget. We believe everyone should be able to make financial decisions with confidence.
Purchasing in bulk can be more cost-effective, and the tax deductions for businesses might save you even more than increasing compensation or directing that spending elsewhere. Many companies use KPI’s to guide goal setting, provide insight into business decisions and direction and help tie clear actions to their goals. For example, if your goal is to decrease overhead you might trim budgets for administrative costs or assess the costs of rent or insurance for a possible change in provider. Remember, budgeting is a process and not a one-time event or activity. You could give them three choices, in the event that you have students who don’t have any money at their disposal (I’m sure this is the case, from what I’ve heard from other teachers). The chance for your students to actually hold money in their hands and make real decisions about it in the classroom is much less than it is at home.
After hours of research, I’ve curated a list of free printable money management worksheets (available in PDF format, so you can easily print them out), that, in my opinion, are the best available. I just love this – every student receives 20 beans, as well as a game board that shows a cost (in beans) for different spending and saving categories. Students must decide how to spend their 20 florida gas prices sit at 10 beans across all categories. If your business budgeting exercise is triggered by a financial crisis then your budget plan might be an obvious path of cutting costs. Alternatively, if you have more foresight and greater flexibility, you can employ a few different approaches to assessing your budget. This worksheet should include what I like to call an “Opportunity Cost Parking Lot” area.
They can use this data to form their budgets and see how careful planning is essential. Middle school children can learn money-saving strategies to keep sample budgets in line. Your younger students can understand how budgets work and apply that knowledge with these worksheets. With this budgeting scenario, students are asked to look at the finances and situation of Trish and Scott who want to move from Annapolis, MD to somewhere else for a job offer.
This particular lesson has students compare putting money under a mattress and putting money into a savings bank account. Use this lesson plan, handouts, and slides to teach your students how to rent, the total costs involved, and how to compare rental options. Since your students will likely rent before owning a home, it’s vital that they learn how to actually rent an apartment (and what costs are involved). Below are PDFs, games with PDFs, PowerPoint slides, and teacher guides to help you teach your students all about managing money.
If you’re going to use them, you need to know how they work. Divide your class into groups, and ask each to research a different question about credit cards, like how they work, what interest they charge, and how to use them safely. Use grocery store websites to your advantage, and have kids take a virtual shopping trip. Or have them start with a weekly food budget and work backwards from there. Either way, remind them to make sure their menus include healthy options. Such a valuable financial lesson to learn young (especially since because young adults are least able to afford high-cost-of-living areas).
Here are some of my favorite printable budget worksheets from around the Web. They allow you to see where your money is going and make sure that your spending aligns with your values and goals. College-bound kids might figure they’ll take loans now and figure out how to pay them back later, but do they really have a handle on the true costs? These interesting online simulations let you pick your school, then walk through four years of potential expenses and income opportunities to find out how you fare in the end. If teens don’t learn smart skills like avoiding phishing scams, how to choose good passwords, or identifying fraudulent sites, they can lose everything they save. Take time to learn about the most common fraud issues, and teach them how to be responsible online.
The first person who gets out of debt and can yell “I’m Debt Free! I’ve got several to check out (and I’ve personally tried each of these). A scenario is thrown to the players each round as well, and depending on their choices, they’ll be in for a reward, or a penalty. The winner of the game is the person who ends with $450 or more in savings, AND, a social well-being score of at least 96. I may be compensated through 3rd party advertisers but our reviews, comparisons, and articles are based on objective measures and analysis. For additional information, please review our advertising disclosure.