From fixed and variable expenses to gross income and net pay, break down the key terms of budgeting with your young adults and help them develop their own plans for spending and saving.

Concepts

budgeting, spending habits, saving money, spending money, expenses, income, net income, gross pay, paychecks

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Additional Tags

social studies

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Instructional Ideas

• Be sure to check out the extension idea on page two, and consider additionally having students maintain a spending log that they must then submit as an assessment 

Classroom Considerations

• This is the ninth lesson in a series of 22 on developing money management skills for young adults

Pros

• Excellent life skills lessons
• Worksheets cover real-world, relevant scenarios
• Well organized and designed lesson

Cons

• None

Common Core

SL.9-10.1.a SL.11-12.1.a