The pack walks students through figuring out a budget based on a minimum wage job & factoring in costs of living based on individual students' choices.
It is a Word document so it can be altered it to fit various student populations and different wages as well.
>Most appropriate for grades 8+
>At-level high school students can probably do this pack without instructional support. A possible sub folder activity.
>Eight page pack, including cover page
>There is math involved in this mini-lesson, calculator will be needed for most students.
>Internet is needed for one activity
>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.
The pack walks students through financial choices
>Students decide things like how large & pricey of an apartment they think they will be able afford, 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 in their apartment, and more choices.
>Estimated costs of all these and more 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 to their annual wage (based on the hourly wage they are provided by their 'job')
>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 student chooses to buy a car in the scenario they create for themselves)
>Clearly distinguishes 'wants' from 'needs'
>The pack was designed based on Alaska expenses (Anchorage). Teacher can change the numbers to fit any city/state students will be 'living' in.
>Estimated costs for everything (apartments, laundromats, Internet service, bus passes, etc.) were taken from the Internet.
>Students will 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.