Module 27
Budgeting & Spending
This module helps students understand how budgeting gives structure, discipline, and visibility into their money habits.
Students identify income, expenses, and savings goals; compare fixed and variable expenses; build emergency funds; track spending; and evaluate how marketing, peer pressure, and impulse purchases can affect financial decisions.
Module At A Glance
Grade Levels:
7th - 12th
Est. Length:
2-4 Hours (22 slides)
Activities:
1 Activites
Articles:
4 Articles
Languages:
English & Spanish
Curriculum Fit:
Math, Business, Economics, CTE, Social Studies
Standards Alignment:
CEE National Standards, Jump$tart National Standards & Relevant State Standards
Guiding Questions
- What is the purpose of a budget and how does it help you take control of your money?
- What is the difference between fixed expenses and variable expenses, and why does it matter when budgeting?
- How can tracking your spending help you achieve short-term and long-term financial goals?
- What are some real-life consequences of not having or following a budget?
- What tools can help you build and maintain a budget that works for you?
- How do marketers influence your spending decisions, and what strategies can you use to avoid impulse purchases?
- What is an emergency fund, and why is it one of the most important short-term financial goals?
Enduring Understandings
- A budget is a financial plan that provides structure, discipline, and visibility into your money habits.
- Tracking and adjusting your expenses empowers you to take control of your financial future.
- Spending decisions are often influenced by emotions, marketing, and peer pressure; budgeting helps counter that.
- Creating both short- and long-term financial goals is essential for building wealth and financial security.
- Understanding the difference between needs and wants is key to managing spending effectively.
- Technology and tools can make budgeting easier, but your habits and decisions are what drive success.
- Financial literacy, including budgeting, is a lifelong skill that can reduce stress and improve quality of life.
Module Vocab & Key Topics
- Budget
- A financial plan that helps you track what you earn, what you spend, and how much you can save toward your goals.
- Income
- Money received from work, allowance, investments, or other sources that can be used for spending, saving, or investing.
- Expenses
- Money spent on needs and wants such as food, housing, transportation, entertainment, school supplies, and subscriptions.
- Savings
- Money left over after expenses that can be set aside for future needs, emergencies, purchases, or investments.
- Fixed Expenses
- Recurring expenses that usually stay the same each month, such as rent, subscriptions, loan payments, or a phone bill.
- Variable Expenses
- Expenses that change from month to month, such as clothing, eating out, entertainment, gifts, or transportation choices.
- Financial Goal
- A target for using money over time, such as building an emergency fund, buying a car, saving for college, or preparing for retirement.
- Emergency Fund
- Savings set aside to cover unexpected expenses or income disruptions, often targeting three to six months of living expenses.
- Impulse Purchase
- An unplanned purchase made without enough research or budgeting, often influenced by emotion, advertising, or peer pressure.
- Needs
- Essential expenses required for basic living, safety, school, work, or financial stability.
- Wants
- Nonessential purchases that can improve enjoyment or convenience but should be balanced against budget priorities and goals.
- Assistance Programs
- Government or community programs that may help eligible people pay for basic needs such as food or housing when income is limited.
