Objective

By the end of this lesson, Everett will understand the basics of budgeting by creating a simple budget game. He will learn how to allocate money for different expenses and savings, helping him make informed financial decisions in a fun and engaging way.

Materials and Prep

• Paper
• Pencil or pen
• Calculator (optional)
• List of fictional expenses (e.g., toys, snacks, savings)
• List of fictional income sources (e.g., allowance, chores)

Before the lesson, prepare a list of fictional expenses and income sources that Everett can use to create his budget. Make sure the expenses and income are relatable and fun for him!

Activities

• Budget Setup

  Start by explaining what a budget is and why it is important. Then, have Everett create a simple budget template on his paper with sections for income, expenses, and savings.

• Income Generation

  Have Everett brainstorm different ways he can earn money (like doing chores or receiving an allowance) and write them down in the income section of his budget.

• Expense Allocation Game

  Create a game where Everett picks random expenses from the list you prepared. He will then allocate his income to cover these expenses while trying to save a portion of his earnings.

• Reflection and Adjustments

  After completing the budget, have a discussion with Everett about what he learned. Ask him to reflect on whether he was able to cover all his expenses and how he felt about his savings.

Talking Points

• "A budget is like a plan for your money. It helps you decide how to spend and save!"
• "What are some ways you can earn money? Think about chores or special tasks!"
• "Expenses are things you have to pay for, like snacks or toys. Can you think of some expenses you might have?"
• "It's important to save some money too! Why do you think saving is important?"
• "When you create a budget, you want to make sure your income is more than your expenses. Can you do that?"
• "What happens if you spend more than you earn? Let's think about that together!"
• "Adjusting your budget is okay! Sometimes you might need to change your plans. How would you do that?"
• "What did you enjoy most about this budgeting game? Learning can be fun!"
• "Remember, budgeting is a skill you can use for the rest of your life!"
• "How do you feel about your budget now? Do you think you can make one for real life?"