FACS: Family Budget (Family)

Summary

Every family is faced with financial decisions. Planning how to spend your money will provide you with security and a way to save for future purchases.

Materials

Copies of the worksheet for students

Pencils

Calculators

Background for Teachers

Students should previously have discussed budgeting and have completed the housing and automobile worksheets.

They should determine additional expenses and costs associated with the family.

Everything must balance. Students may not spend more money than they have.

Students should pay themselves first--plan for the future and security.

It is okay and advisable to spend less than they have. This will provide them with more flexibility and choices in other areas.

Have students plan for their needs before they plan for their wants.

Student Prior Knowledge

Students should have completed the housing and automobile worksheets found in the TLC curriculum.

Intended Learning Outcomes

Students will practice planning a budget.

Instructional Procedures

Students will complete the family budget worksheet.

Bibliography

Family Economics