Lesson
Foundations of Budgeting
Summary
A budget isn't a restriction—it's a plan. This lesson introduces needs vs. wants, net pay, and a planning mindset through scenario-based discussion and a life simulation.
Bellringer: The $100 Dilemma
- Display the $100 scenario and give students 1–2 minutes to formulate a response.
Instruction
- Spending plans, needs vs. wants, the 30-day rule, net vs. gross pay, and personalized budgets
Activity: Life Scenarios Pretest
- Take the pretest as a benchmark for future progress
Discussion: Daily Joy vs. Future Freedom
- Have students physically move to sides of the room to vote fast food or savings
- Give each side 2 minutes to argue; then ask for a budgeting compromise
Wrap-Up & Assessment
- How do you tell the difference between a need and a want?
- What is the difference between net pay and gross pay?
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: The $100 Dilemma |
|
| 15 min | Instruction |
|
| 10 min | Activity: Life Scenarios Pretest |
|
| 10 min | Discussion: Daily Joy vs. Future Freedom |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
Life Scenarios Pretest
Find out how much students know about managing money before beginning the Life Scenarios game.
Class Presentation
Includes an 18-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
- Built-in PresentationPresent full screen, straight from Banzai
- Copy to Google SlidesMake an editable copy for your class
- Download or PrintSave as a PDF or print
- Teacher NotesSlide-by-slide guidance, printable as one handout
Unit 4: How to Budget
Foundations of Budgeting
A budget isn't a restriction—it's a plan. This lesson introduces needs vs. wants, net pay, and a planning mindset through scenario-based discussion and a life simulation.
Fixed & Variable Expenses
Rent stays the same after a bad month—the grocery bill doesn't. This lesson teaches students to classify expenses as fixed or variable and launches the Life Scenarios budgeting simulation.
Major Expenses
Most people underestimate housing and transportation costs, but together they can consume 70% of an adult's budget. This lesson breaks down upfront and ongoing costs of renting, total cost of car ownership, and trade-offs that define financial stability.
How do Banzai lesson plans work? See the FAQ.