Budgeting Money

Yolanda Smith Douglass Math and Science Academy
543 N. Waller
Chicago IL 60644
(312) 534-6176


Students will be able to understand how to budget a monthly income.

Students will develop basic math techniques integrated with reading and social
studies skills.

Students will be able to search employment within the want ad section of a

Students will be able to understand the difference between a necessity and a

* This lesson is designed for grade levels 6-8

Materials Needed:

Budget Sheets Short Story (optional)

Newspaper (renting and job section) Toy Cars (prices listed)

Play Money Toy Houses


This lesson is designed for each child or group. Have students decide on a
occupation from a newspaper want ad. Ask questions concerning needs and wants
in their lives with the cost. Make a list on the board of a monthly expense.
Divide yearly salary into 12 months. Children will receive a month's salary in
play money and spend it while budgeting and planning.

* Start lesson with a word problem.

Nancy wants to go to summer camp for 3 weeks. Each week costs $76.00. She has
saved $232.00. Does she have enough money to go for 3 weeks?

* Allow each group or child to demonstrate their answer.
Children can use play money, blackboard or paper.

Performance Assessment:

Teacher observation and completion of the budget worksheet. Students must be
able to budget a monthly salary.

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