Monthly Budget Project

The images shown are excerpts from the latest iteration of a budget project I have used for years. The content addressed in this project can be used as stand alone activities and are relevant real life examples for our students. Even the younger students could benefit, e.g., learning addition by shopping for items online and recording the prices (for older students throw in computing tax). These topics are especially useful for multiplication word problems, rate, single variable equations, and linear functions (slope being rate of change such as car payment per month).

Here is an overview. You graduate from high school and are living on your own. You have a job, but your car is getting old. You need to figure out how to save for a down payment in your budget and for when you must pay a car payment and insurance. (You will have to get your OWN insurance.)

The image below shows the table for all monthly expenses.

The students have imbedded activities such as

  • estimating monthly food costs by estimating cost for meals for a single day
  • shopping for disposable household items
  • shopping for car insurance based on the car they shop for (more on that at the end) NOTE: they do not share personal information other than a school email address (or my email address) to receive the quote
  • searching for a job with a hourly pay and estimate after tax income

They shop for a car last as the idea is they need to save up for a down payment. The amount they can save is based on how much money is left over after paying all other bills. How much they save will be converted to how much they can spend on a car payment and monthly insurance payment.

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