Budgeting Basics
Grade Band: Middle School (Grades 6–8)
Duration: 45 minutes
Standards: CCSS 6.RP.A.3; Jump$tart 1 & 2
Objectives
- Define “needs vs. wants” and categorize common expenses.
- Allocate a fixed income across essential spending categories.
- Reflect on trade-offs in budgeting decisions.
Materials
- Device with Build-a-Budget game access
- Projector or shared screen for demo
- Worksheet: Needs vs. Wants Chart & Reflection
Procedure
- Hook (5 min): Project two lists (Needs vs. Wants) and ask what happens if income doesn’t cover both.
- Direct Instruction (10 min): Define fixed income, needs, and wants. Demo Build-a-Budget Period 1.
- Guided Play (20 min): Students play Period 1 in pairs, noting each choice and its impact.
- Discuss & Debrief (5 min): List trade-offs on board (“I skipped entertainment to pay rent”).
- Reflection (5 min): Complete worksheet questions:
1) Which “want” did you include and why?
2) Which “need” was hardest to cover?
3) What would you change next period?
Assessment
- Worksheet is complete with clear needs vs. wants decisions.
- Teacher observations during gameplay.
Student Name: _________________________________
Worksheet: Needs vs. Wants
| Expense Item | Needs (✔) / Wants (✔) |
|---|---|
| Rent | |
| Groceries | |
| Utilities | |
| Entertainment | |
| Clothing | |
| Savings | |
| Other: ________ |
Reflection Questions:
- Which want did you include and why? ________________________________
- Which need was hardest to cover? _________________________________
- What would you change next period? ________________________________