Cost of Living Activities Pack: Budgeting/Life Skills
This is a Word document so you can alter it to fit your student population. Eight page pack, including cover page
-Appropriate for grades 8+ -Allows students to figure out basic monthly and yearly cost of living expenses -Allows students to figure out an annual income (you give them an hourly wage to work with) -Students will decide things like how pricey of an apartment they will rent, if they will share expenses with a roommate, what their mode of transportation will be, how many loads of laundry they need to pay for each week, will they choose to pay for Internet at home, etc. Estimated costs of these, and more, are provided. -Allows student to figure out car insurance estimates -Worksheets guide students through figuring out all these items - then compare that cost of living to their annual wage (based on an hourly wage you supply them with). -Distinguishes 'wants' from 'needs' for students -One activity is getting a car insurance quote from online (Geico has an easy way to do this) so students will need Internet access for this (IF they choose to have a car in the scenario they create for themselves). -There is math involved in this lesson -It is based on Anchorage, Alaska prices. Numbers can be changed to fit whatever city/cities students will be looking at for the lesson. Cost of living is high in Alaska, so if all the numbers are lowered a bit it would be a reasonable estimate for most large U.S. cities. -For this activity, it is suggested (but not necessary) that the teacher give students 'jobs' with an hourly wage, varying from minimum wage to a few dollars above - a position they could obtain right out of high school. This way, students can see how difficult it is to live at that wage.
-This will take anywhere from one hour to several days depending on student grade level and abilities.
The message being - get some additional training or education after high school to avoid struggling to make ends meet. A great little unit in itself, or, in addition to a larger unit. If teaching students who are college bound, this can be easily adjusted this to fit that population.