Accounting – 11/22/19

I. Bellwork: Budget Challenge

II. Learning Objectives:

  • Discover money personality, including spending and saving propensity
  • Describe the reasons for maintaining a budget
  • Build a budget by prioritizing needs and wants
  • Develop a system for tracking income, spending, and savings
  • Devise a contingency plan for covering unexpected expenses

III. Classwork Lesson 3 Budgeting

IV. Exit Ticket

Q1: How would you prioritize spending?

  • What are some spending areas that might be prioritized by people, yet shouldn’t be?
  • What are some spending areas that should be prioritized but often aren’t?

Q2: What are some of your long-term financial goals that might be achievable by creating a budget and sticking to it?

• What tool or system would you consider using to help you stick to your budget?

Q3: How much do you think you should have in your emergency fund?

• What would qualify as a good reason to use your emergency fund?

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