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?

Economics F2019