WebQuest

Show Me the Money!

Process

money(94).jpg

Task 1:  Creating Your Personal Budget

The objective of this task is for you to set up a personal budget that would allow you to live the type of life you would like, as well as to understand what skills and/or education you need to get there. This will include finding a house, finding a car, developing a budget, and finding a career that would match your income needs. This task does involve doing some calculations and entering information into a personal budget on Excel, but it's main purpose is to allow you to have fun dreaming of the future while realizing what these dreams may cost.  It takes lots of money!

 

Task 2:  Wants and Needs

In a small group (about 3 or 4), brainstorm the difference between wants and needs.Write your ideas on lists. Have one group member make three columns on the board (or sheet of paper) for the entire group to view. Write the basic needs in the first column, required costs in the second column,and wants in the third column. If you need help coming up with ideas, ask other friends and family members about needs and wants in their own budgets.


Next print the needs and wants page.  On your own, list your personal wants and needs. You can use ideas from the class list if you would like. Visit the
Financial Planning site with a partner or in a small group. Read and discuss the importance of planning and setting goals.

Finally, work alone to write down your goals. Continue filling out your personal budget worksheet. Enter the amount of money you spend on basic needs, required costs, and wants in the appropriate section of your budget.

 

Task 3: Making Choices

In your group, brainstorm other examples of optional spending. List everyone's thoughts and ideas on the board or on a sheet of paper. Once these steps are completed, visit the Jump$tart Coalition site and take the Reality Check quiz.

This quiz will allow you to envision your dreams and find out how much it will cost to have everything you can imagine.  Remember... It's your life, you can do whatever you want... or can you?  It's all about the choices you make.

After the video is completed, print the Optional Spending sheet and complete it independently.

Next, take time to answer the following questions.

-What do you plan to do with your money?

- Will you use it for entertainment?

- Will you use it for education or retirement?

Once these steps are completed, finish filling in your personal budget worksheet. 

 

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