Reality Check!

Reality Check!

Materials: : Paycheck Sheet, Budgeting Handout, Reality Check Station Sheet, Pencil ; Links to assist: Paycheck Sheet Budgeting Handout Reality Check Station Sheets

Instructions:

1. Mentors will begin the lesson by explaining to students that being able to budget your money is an important skill to have. Budgeting is defined as, “A spending plan for your money that ensures that you will always have enough money for the things you need and the things that are important to you.”
2. Next, tell students that today’s lesson is a budgeting simulation. Give the fake check handout sheet, as well as the budgeting hand sheet to each student. This fake check will contain $2,000 and the budgeting sheet is broken down into several categories such as: Rent, Groceries, Bills, Entertainment, and Transportation/Gas.
3. Break students up into groups and explain that they will go to each station and choose how to spend and save their money. As they choose what expenses they believe to be important, students will subtract the designated amounts from their $2,000 starting point using the budgeting sheet provided.
4. Give students 15-20 minutes to go around the stations—roughly 5 minutes each. Mentors, be sure to help students fill out their budgeting sheets by doing the math to see how much money they have and what is remaining at the end.
5. Once students have gone through and completed each station, regroup, and take student volunteers to explain how they budgeted and what they choose/why. Mentors, be sure to share how you budget in your own lives!

 

Download activity here