In this activity you’ll create a simple budget to help you save for some things on your wishlist. At the end of the month, you’ll reflect on your actual income and expenses and whether you were able to save enough for the things you wanted.
This is a good activity for kids to complete independently, though it would be good to have friends and family around to discuss ideas with.
Ideal for: Lower secondary
- think and connect
Time required: 40 minutes, with a one-month follow-up
There are many different methods used to create a budget. The one chosen for this lesson is a simple version designed for young teenagers who are unlikely to have formal part-time work. To teach kids to create a budget, they will need to predict and then keep a record of all income sources and all of the known expenses for wants for one month. We will assume that at this age, students are not required to pay for goods or services considered ‘needs’.
- Year 7: ACHEK018
Complete lesson for classroom teachers:
- Device with internet capability
- Pen and paper (optional)
[email protected] from Cool Australia
[email protected] resources are designed for parents and teachers to use with children in the home environment. They can be used as stand-alone activities or built into existing curriculum-aligned learning programs. Our [email protected] series includes two types of resources. The first are fun and challenging real-world activities for all ages, the second are self-directed lessons for upper primary and secondary students. These lessons support independent learning in remote or school settings.
Cool Australia’s curriculum team continually reviews and refines our resources to be in line with changes to the Australian Curriculum.