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Financial Literacy
Financial Literacy
Students will gain perspective on how to manage resources and their consumption of goods and services through a salary-based budget. Students will learn about pre-tax deductions (health insurance and retirement accounts), living expenses, savings, etc to create a salary-based budget that would fit within their preferred career choice.
Scholarship Scavenger Hunt
Link to Google Doc
Budget and Saving Project, Career Exploration Part II
This lesson is based on the Next Gen Personal Finance lesson.
A Salary-Based Budget
In this activity you will:
choose a potential career path
determine your take-home pay
set aside money to pay yourself first
try your hand at an independent adult’s budget
and then reflect on the process of budgeting.
Things to Think About:
Location
Is this job available in the location you want?
What is the cost of living in your preferred location?
Lifestyle
Will this salary support the lifestyle that you want?
Will you be able to save money?
Find the salary for the area you want to live in.
Use the worksheet:
Salary-Based Budgeting worksheet,
Works Cited
“Browse Careers by Industry at My next Move.” My Next Move, https://www.mynextmove.org/find/browse.
“Ngpf Blog.” New Economy Adaptation - CREATE: A Salary-Based Budget - Blog, https://www.ngpf.org/blog/activities/new-economy-adaptation-create-a-salary-based-budget/.
“Salary Paycheck Calculator – Calculate Net Income.” ADP, 23 Dec. 2021, https://www.adp.com/resources/tools/calculators/salary-paycheck-calculator.aspx
Zumper. “Rental Market Trends for the US & Canada.” Zumper, https://www.zumper.com/rent-research/.
Helpful Links for Budgeting Savings Project
Helpful Links for Budgeting Savings Project
Article --Tips on Budgeting from Ramsey Solutions
NGPF Salary Based Budgeting Worksheet
NGPF PowerPoint on Creating a Budget
https://texasrealitycheck.com/
https://www.marketwatch.com/story/the-beginners-guide-to-building-a-budget-2019-08-09
https://www.careeronestop.org/ExploreCareers/explore-careers.aspx
https://www.mynextmove.org/find/browse
https://www.adp.com/resources/tools/calculators/salary-paycheck-calculator.aspx
Links
Will you be able to afford the lifestyle you want?
Will you be able to afford the lifestyle you want?
https://texasrealitycheck.com/
After high school, students can expect to pay for housing, transportation, clothes, etc., but how much will their future cost? In order to adequately prepare for the future, students should explore the cost of their future.
Housing (apartment, condo, town home, house)
Utilities (mobile phone, internet, cable, electricity, etc.)
Food (dining out, eating in, cooking)
Transportation (bus, car, train, bicycle, etc.)
Clothing (budgeting, types, shirts, pants, bags, shoes, belts)
Health Care (health insurance, doctors, dentists, eye doctors, etc.)
Entertainment (cost of activities for entertainment)
Insurance (car, life, health)
Hygiene (grooming, hair care products, cologne or perfume, deodorant, toothpaste)
Travel (leisure travel, vacations)
Savings (for future and emergency expenses, 5%, 10%)
Gadgets (devices, PCs, tablets)
Taxes
Google Sites
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