Erin Wilhite Smagala
Tennessee Technological University
Cookeville, TN
Advisor  Melinda Swafford

Course: Consumer Economics
Project: “Real World  Budget”
Descriptor: The activities are planned to cover seven days.
National Standards: 1.1, 2.1, 2.5, 2.6, and 3.3.
Tennessee State Standards: 3.0, 3.3, 3.4, 3.5, 3.6, 4.0, 4.1, 4.6, 4.7, 6.0, 6.1, 7.0, 7.1, 7.3, 10.0, and 10.4.
Gateway Connections: Algebra 1.0, 1.7, 2.0, 2.1, and 2.2; English 1.0; Biology 4.0 and 4.7.

Activities

1.  Workin’ 9-5 (Days 1-2)

Summary: Students will randomly draw from pre-selected occupations/salaries and family situations. They will then construct a monthly budget with given criteria. 

Handouts:
(1.a)  Occupations/Salaries (cut out and draw from a hat) (Word)
(1.b)  Family Situations (cut out and draw from a hat) (Word)
(1.c)  Monthly Budget Worksheet (Word)

Websites/Resources:
http://swz.salary.com/salarywizard/layouthtmls/swzl_salarycenter.html
http://www.daveramsey.com

2.  Life Happens (Days 3-5)

Summary: Students will randomly draw life events/occurrences that may be negative or positive. They must adjust their budgets accordingly, as well as manage savings plans and find extra income, when needed.

Handouts:  Life Events/Occurrences (cut out and drawn from a hat) (Word)

3. Helping Hands (Day 6)
Summary: Students will all be given the same life occurrence in order for the biology gateway to be met. They will research Down syndrome and the cost of occupational therapy and physical therapy. They will decide how much money to contribute and plan for it in their budget.

Handouts:  (3) Helping Hands Worksheet (Word)

4.  Second Chances (Day 7)
Summary: Have students review their Real World Budget activities and write a paper about what they have learned about budgeting, changes they would have made, and budgeting techniques they will use in the future.

5. Financial Planning

Summary: Financial Planning is an FCCLA Star event to be done individually. Participants are recognized for their ability to budget for costs of unforeseen events using skills learned in Family and Consumer Sciences.

Websites/Resources:  www.fcclainc.org Star Events Manual pages 134-143