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The Game of Live: Living on a Budget: Home

This guide will teach you the basics of developing a budget and sticking to it.

Living on a Budget

Timeline

Day One - "Money In/Money Out" Simulation  Explain Project  Assign Utilities W.S.

Overview of project.  Explore Libguide.  Enter Reflection 1. 

Day Two - "Responsible Money Choices" Vault Computer Simulation Module 1: Responsible Money Choices.  Link found on libguide.

Day Three - "Income and Careers"  Vault Computer Simulation Module 2: Income and Careers   Link found on libguide

Day Four- "Get a Job!"  Draw for your job activity.   Discuss Gross vs. Net pay  "The Spending Wheel"

Calculate Budget percentages based on your income

Complete and turn in the Evaluation Of My Job Worksheet.  Assign Utilities Worksheet

Day Five -  "Where Will I Call Home?"  How to Decide Where to Live and whether to Rent or Buy a place to live.  Complete and turn in Purchase vs. Rent Decision Worksheet.

Day Six - "Making Plans With Money" Vault Computer Simulation Module 3: Making Plans with Money  Link found on Libguide

Day Seven - "Give Me Some Credit!" Vault Computer Simulation Module 4: "Credit and Borrowing"  Link found on Libguide

Day Eight - "How Will I Get There?"  How to decide on transportation.

Complete and turn in Transportation Decision Worksheet

Day Nine - "What is there to eat?"  Figuring out groceries/restaurants.  Prepping for the weekend.

Complete and turn in Food/Restaurant Budgeting Worksheet

Day 10 - "Insurance and Safety" Vault Computer Simulation Module 5: Insurance and Safety 

link found on libguide.

Day 11 - "Savings and Investing"  Vault Computer Simulation Module 6: "Savings and Investing

link found on libguide.

Day 12 - "Can You Be a Millionaire?"   Complete Millionaire Calculation Sheet

found in worksheet links

Day 13 - Report on Weekend.  Utility Report Due Back.  Entertainment  Budget Ledger

Complete and turn in Weekend Activity Recording Worksheet  Record all records on ledger found on libguide

Day 14 - Wrap Up and Reflect

Research Websites

Necessary Documents

Living on a Budget

This activity will show you as accurately as possible the challenges of creating a budget.  It will take into consideration what you will earn, your family situation, what you spend and will show you the challenges of staying on a budget, no matter what you earn.

Budgeting Terms

  • Budget: financial tool to help you manage income and expenses
  • Net income: money made after taxes
  • Gross income: money before taxes are taken out
  • Principal: amount upon which interest is paid
  • Interest: money charged for using
  • Default: failture to pay a loan
  • Collateral: Security on a loan
  • Premium: amount of money you must pay on an insurance policy
  • Fixed expenses: expenses that don't vary in amount and are paid regularly
  • Flexible expenses: expenses that vary from month to month

Google Docs

Set up google docs with your spouse if you have one:

Copy this document into google docs so you both can work on it simultaneously:

If you are turning in with your partner on 1 google doc, your daily reflections must and final reflections must be clearly labeled with your name on it.

Ex: Kelly-Sept 5-Today I...

Molly: Sept 5-I can't believe...

Documents you must use to successfully complete your monthly budget.

Budgeting Overview Document Consider this a blueprint for what you are doing for the unit. 

Online Budget Register - Use this document to record what you spend on each part of your budget.

 

****Really good website with cost breakdowns and a cost of living calculator:

https://howmuch.net/articles/consumer-spending-in-the-united-states

Some Helpful Background Articles about the importance of maintaining a good budget.

Facts About Bankruptcy

 

Student Loan Debt and Other Statistics

Unit PowerPoints

Money In/Money Out PPT

Money Facts

Saving For the Future

Everfi - Vault Simulations

In order to access the Everfi Vault Simulations, simply go to www.everfi.com/login and log-in with your User Name and password.  You need to change your password after your first login.  We highly suggest that you change your Everfi password to your school password so you have no problem remembering it.

There are six modules you will complete during this unit.  Those modules are:

  • Responsible Money Choices
  • Income and Careers
  • Making Plans with Money
  • Credit and Borrowing
  • Insurance and Safety
  • Savings and Investing

You will need to complete each of these modules before moving

on the the next module.

Library Media Specialist

Bill Hume's picture
Bill Hume
Contact:
Blue Valley M.S.
5001 W 163rd Terrace
Overland Park, KS
66085
913-239-5120

Remember - C.A.R.S.

C-Credibility: How reliable is the person creating the information? Can you trace to a reputable organization such as a university, a national organization, etc.? If it is written by an author, is ther a first and last name, email contact, overview of credentials, etc.? In other words, is the source trustworthy?

A-Accuracy: Is the information current? Does it give specific details to support claims such as statistics and when they were taken? Does it avoid vague language such as always, never, sometimes, etc.? Does it provide well-rounded coverage of the topic?

R-Reasonable/Reliable: Is the information balanced? Is the language professional? Is it written objectively or does it appear slanted? Is it selling/promoting something that would be a clear conflict of interest? Does it overclaim without specific support (ex: Thousands of children live on the streets today)?

S-Support: Are sources listed, contact information, something to show where the information is coming from, a bibliography,etc.?