1. 10 th Grade Budget 10 th Grade Budgeting and Financial Success #3

2. Objectives Income vs. Expenses Possible 10 th grade jobs Common 10 th grade expenses Creating and maintaining a budget

3. How to Manage Your Money Video Write a saying or two that you especially like

4. Two Main Budget Components Income – Money Earned – Allowance – Other Expenses – Entertainment, Clothes – Car/Transportation – Technology, Savings

5. Becoming Successful Financially Increase your income – Find jobs that pay well for your education level – Work hours that are appropriate for your age Reduce your expenses – Start or continue good habits in 10 th grade – Have a plan and stick to it

6. Income Money Earned – 16 year-olds have more employment options Than 15 year-olds and younger – Often must apply to many places Before getting a job Allowance – Some 16 year-olds don’t get allowance anymore – Some students get allowance all through school

7. 16-Year Olds: Possible Employment Amusement Park, Book Stores, Coffee Shop Restaurant, Clothing and Convenience Stores Department and Shoe Stores, Summer Camps Supermarkets, Ice Cream Parlors, Modeling Government: Cleaning Parks, etc., Resorts Lifeguard, Babysit, Landscaping/Mow Lawns Summer Camps, Movie Theater, Bagel Shop Clean Houses/Apartments, Other

8. Pair and Share 1.Rate the possible jobs 1-5 2.List specific places to apply for a job – Restaurant: McDonalds, Dominos, etc. 3.Share your job ideas with a partner – Explain why each job appeals to you – Where you will apply for a job? Why you will stay at your current job?

9. Expenses Balance fun/make good financial decisions – Entertainment: Have more options in 10 th grade – Clothes: Parents often don’t buy all clothes now – Car/Transportation: New costs in driving car – Technology: New games or music downloads – Savings: Increase to help with college costs – Other: ?

10. Sample Monthly Budget 10 th grader Set monthly income goal of $190.00 Wants to reduce technology expenses – By $10.00 a month Set a saving’s goal for $50.00 a month

11. 10 th Grade Budget

14. Follow Through 1.Most important step – People who follow through on a budget are often good money managers 2.Keeping a budget should be a habit – Have it be part of your weekly schedule 3.Share your budget with a friend – Friends talking about their budgets will often help them stay motivated

15. Create/Modify Your Budget 1.Use Word Table Example 2.Fill in dollar amounts for each category 3.Add any categories is necessary 4.Save your work

16. Class Discussion 1.How do you think you can be more financially successful as a 10 th grader? 2.How often will you update your budget?

17. Review Two main factors of financial success – Increase income and reduce expenses Major 10 th grade expense categories – Entertainment, Clothes, Car/Transportation – Technology, Savings Main key to keeping a good budget – Follow through