This pack is great!
It's hands-on: hands on a calculator, because they will be calculating the decisions they make.
Students are taken, step by step, through the basic of figuring out how much it costs to live on their own. Basic budgeting based on:
(1) income (minimum wage, unless you alter it)
(2) realistic day-to-day choices students will need to make (in the not so distant future) about a wide variety of items.
This is a Word document so it can be edited to fit various student populations, wage options, additional lifestyle choices, etc. Which is awesome.
> Eight page pack, including cover page.
> Internet is needed for one activity.
> Most appropriate for grades 8+
> There's math involved. Depending on student skill level, calculator may be needed. At-level high school students should have no problem.
> Students are given entry level jobs which pay minimum wage. (e.g. fast food worker, housekeeper at a hotel, data entry in an office, food service at a hospital, new employee at Walmart, stock person at a supermarket, etc.)
> Students might select from a provided list of jobs or chosen from a hat, etc.
> Addresses topic of 'wants' vs 'needs.'
> Estimated costs for everything (apartments, utilities, laundromats, Internet service, bus passes, etc.) were taken from the Internet.
> The pack was designed based on Alaska expenses (Anchorage). Teacher can change pricing to fit any city/state students will be "living" in.
Students are guided through....
> ...deciding how large & pricey of an apartment they think they will be able afford, if they will share expenses with a roommate or live alone, 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 in their apartment, and more choices.
> ...getting a car insurance quote from online (there is an easy way to do this, link in the resource) so students will need Internet access for this activity (if student chooses to buy a car in the scenario they create for themselves)
> Estimated costs of all possible choices are provided.
> Students figure out basic monthly and yearly costs of living.
> Students figure out an annual income.
> Students are guided through comparing costs of living expenses based on the choices they have made -- to their annual wage based on the hourly wage they are provided by their "job." Which will be a real eye-opener to many.
> Goal is that students see how comfortably, or not, they can live on the wages of a job they can get right out of high school.
> The message being - get SOME additional training or other education after high school so you are not struggling to pay for the basics.
> If you teach kids who are college bound, you can easily adjust this to fit that population.
Same resource on TeachersPayTeachers: $16
Related ResourcesCost of Living & College Budgeting: Income vs. Expenses
Cost of Living Test: Word doc to Individualize
Life Skills: Going to Work Worksheets
