Wednesday, December 11, 2013

Homeschool lesson Budgeting.

I know a bunch of Public schools don't teach certain skills any longer due to teaching to the "No Child Left Behind" test and Common Core.  In my opinion not teaching these skills leave children ilequipped for the real world, and that is part of the problem with the economy.  This country has a negetive savings rate and our leaders have no clue how to do a budget and live by it.  Seriously this is a problem for our future.  So today I sat down and created a great (well I think it is great) worksheet for kids for Homeschooling.  I am sharing it below.  Now tomorrow, we are tackling Interest rates, Savings and Credit rates. I am including essay type questions with these.  And when you look at this, Yes it is a very tight budget with some hard choices for a reason.  

Monthly Budget Worksheet.

rent 450 
Car payment 
ins 150
cable/internet 50
phone 75
electric 150
Car gas 150
Food 250

Pay check

1. You are paid $8.50 an hour. You work 40 hours a week.
What is your gross pay before Taxes?___ a week. _____ a month. ___ a year.
2. Your tax rate is 10%. How much is Taken out a week ___? A month____? A Year_____?
3. You should save 10% of your take home pay every paycheck. How much should you save a month? _______
4. How much money have you saved at the end of the year? ______
5. What Percent of your paycheck goes to rent?_____
6. How much money do you have left over at the end of the month?______
7. You need to get a car. Can you afford it?_________ If yes how much of a payment can you afford a month?__________
8. The movies cost $10.25. Can you afford to go to the movies this month?_________
9. Your mom gave you $40 in grocery coupons. What are you going to use the extra money for? And Why?

If you can think of other questions to add leave me a comment.  We will be doing this lesson with different variables over and over again.

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