Introduce your students to the world of making a budget with an immersive “It’s My Life” budgeting for kids project.
How Important is Budgeting for Kids?
The simple answer… it’s not important, but it is critical.
You don’t need to be a financial expert to know that kids just don’t understand how money works. At least not yet!
We know how hard it can be to teach your students how to manage their money, but we also know that it’s crucial for them to learn. They’ll have a much better chance of being financially successful as adults if they start young.
Financial Literacy for Kids – Following a Budget Project
Let’s talk about financial literacy.
The good news is that teaching financial literacy in elementary is possible. The bad news? You have to figure out how to teach them all those terms and definitions and then ensure they understand them.
Printable Kid’s Budget Worksheets Plus Project Reflections
This project aims to help students learn how to make a budget that includes both needs and wants by choosing appropriate expenses based on the assigned salary. This project places students in the driver’s seat as they are required to
- Randomly draw a career and salary.
- Choose the budget that best fits your salary (Simple, Average, Extravagant). Select the expenses that best fit your salary.
- Calculate monthly expenses and determine the amount being saved each month.
- Record your expenses on your budget sheet and calculate savings of $100 or more.
- Reflect and expand on the budgeting process and how it can affect your lifestyle.
We’ve also included an editable version if you want to edit or change any information.
Before You Download Your Kids’ Financial Literacy Resource
Use the dropdown icon on the Download button to choose between the PDF or Google Slides version of this resource.
This resource pairs perfectly with our Financial Literacy for Kids Instructional Slide deck.
This resource was created by Beth Hindi, a teacher in Texas and Teach Starter collaborator.