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lenny

Be a Budget Boss

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Jim

Tier 3
For Schools

Lesson Plan

Be a Budget Boss Lesson Plan

Students will set personal financial goals, track expenses, and create a balanced, personalized budget to gain confidence managing their money.

Building budgeting skills empowers 11th graders to make informed spending decisions, prioritize savings, and develop lifelong financial responsibility.

Audience

11th Grade

Time

30 minutes

Approach

Individual guided activities with real-time feedback.

Materials

Calculator, Pen and Paper, Budgeting Worksheet, Expense Tracker Sheet, Financial Goal-Setting Worksheet, and Personalized Budget Template

Prep

Preparation

5 minutes

  • Review Budgeting Worksheet, Expense Tracker Sheet, Financial Goal-Setting Worksheet, and Personalized Budget Template.
  • Print one copy of each worksheet for the session.
  • Ensure a calculator and writing tools are ready.
  • Familiarize yourself with basic budgeting terms (income, expenses, savings).

Step 1

Introduction & Goal Setting

5 minutes

  • Welcome the student and explain the importance of budgeting.
  • Ask the student to identify one short- or long-term financial goal.
  • Complete the goal section of the Financial Goal-Setting Worksheet together, ensuring goals are SMART.
  • Confirm understanding of how clear goals guide budgeting choices.

Step 2

Expense Tracking Exploration

10 minutes

  • Introduce the concept of tracking daily expenses.
  • Review sample entries on the Expense Tracker Sheet.
  • Have the student record their actual or hypothetical expenses for one week.
  • Provide guidance on categorizing expenses and checking arithmetic.

Step 3

Budget Construction

10 minutes

  • Explain the relationship between income and expenses.
  • Use the Budgeting Worksheet to list income sources and total expenses.
  • Transfer figures into the Personalized Budget Template.
  • Assist the student in allocating funds to needs, wants, and savings until income equals expenses.

Step 4

Review & Next Steps

5 minutes

  • Review the completed budget and discuss any imbalances or areas for adjustment.
  • Offer feedback on strategies to reduce unnecessary spending or increase savings.
  • Discuss a plan for ongoing expense tracking (e.g., weekly check-ins).
  • Set a date for the next follow-up session to monitor progress.
lenny

Slide Deck

Be a Budget Boss

30-Minute 1-on-1 Session with 11th Grade
Set goals, track expenses, and create your personalized budget.

Welcome the student warmly and introduce the session. Explain that over the next 30 minutes you’ll work together to set a financial goal, track expenses, and build a budget. Emphasize the one-on-one support they’ll receive.

Why Budgeting Matters

  • Gain control over your money
  • Prioritize spending and savings
  • Achieve short- and long-term goals
  • Build lifelong financial confidence

Explain why budgeting matters: it gives control over spending, helps reach goals like saving for college or a car, and reduces financial stress. Relate to their real-life needs.

Set Your Financial Goal

  1. Identify a goal (e.g., trip, gadget, savings)
  2. Ensure it’s Specific, Measurable, Achievable, Relevant, Time-bound
  3. Fill out the goal section on the worksheet

Guide the student through choosing a SMART goal. Ask for one short- or long-term goal, then complete the Financial Goal-Setting Worksheet together.

Track Your Expenses

  • Record every purchase for one week
  • Categorize as Needs, Wants, or Savings
  • Use the Expense Tracker Sheet
  • Check totals and accuracy

Introduce the Expense Tracker Sheet. Show sample entries and have the student list their own weekly expenses (real or hypothetical). Help them categorize correctly.

Build Your Budget

  1. List income sources on the Budgeting Worksheet
  2. Total your weekly/monthly expenses
  3. Allocate funds to Needs, Wants, Savings
  4. Adjust until Income = Expenses in the template

Show how to use the Budgeting Worksheet and transfer figures to the Personalized Budget Template. Assist the student in balancing income and expenses.

Review & Next Steps

  • Discuss any imbalances or adjustments
  • Identify spending you can reduce
  • Plan ongoing expense tracking (weekly)
  • Schedule a follow-up session

Review the completed budget with the student. Suggest ways to trim Wants or boost Savings. Agree on weekly check-ins and set a date for your next meeting.

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Worksheet

Financial Goal-Setting Worksheet

1. Describe Your Financial Goal

Write your goal in a clear sentence. Consider what you want to achieve and why it matters to you.









Is this a Short-Term goal (within 1 year) or a Long-Term goal (more than 1 year)? ________________________

2. Make Your Goal SMART

Use the criteria below to refine your goal. Fill in each section with as much detail as possible.

• Specific: What exactly do you want to achieve? Why is this goal important?





• Measurable: How will you track progress? What indicator will show you’ve met your goal?





• Achievable: What steps or resources do you need? Are there any obstacles you must plan for?







• Relevant: How does this goal align with your values, needs, or other financial priorities?







• Time-bound: What is your deadline? By when will you have achieved this goal?







3. Action Plan

List three specific actions you will take first to work toward your goal:

  1. ___________________________________________

  2. ___________________________________________

  3. ___________________________________________

4. Reflection

Why is this goal meaningful to you? How will you stay motivated and monitor your progress?











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lenny

Worksheet

Expense Tracker Sheet

Instructions

Record each expense you make over one week. For each purchase, fill in the date, item/description, category (Need, Want, or Savings), and amount. Use the space provided for any notes.

DateItem/DescriptionCategory (Need/Want/Savings)Amount ($)

Total Expenses for the Week: ___________________________________________


Weekly Breakdown

• Total Needs: _____________________________________


• Total Wants: _____________________________________


• Total Savings Contributions: ______________________

Reflection

  1. Which category did you spend the most on this week and why?





  2. Did any unplanned expenses occur? How might you handle them next week?





  3. What is one change you will make to your spending habits based on this data?





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lenny

Worksheet

Budgeting Worksheet

Use this worksheet to list your income sources and expenses before transferring numbers into the Personalized Budget Template.

1. Income Sources

List all your income for the month (job earnings, allowance, gifts, etc.).

SourceAmount ($)

Total Monthly Income: ____________________________________________


2. Expenses

Record all your monthly expenses. Include fixed costs (rent, subscriptions) and variable costs (food, entertainment).

Category (Need/Want/Savings)DescriptionAmount ($)

Total Monthly Expenses: _________________________________________


3. Net Income Calculation

Subtract your Total Expenses from Total Income.

Total Income ($) 114; Total Expenses ($) = Net Income ($)

______________________________________________





4. Reflection & Next Steps

  1. Is your net income positive, negative, or zero? What does this tell you about your spending habits?





  2. If you have a deficit, which expenses could you reduce or eliminate? If you have a surplus, how will you allocate extra funds?





  3. What one change will you make this month to improve your budget balance? How will you track its impact?





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lenny

Worksheet

Personalized Budget Template

1. Confirm Your Total Monthly Income

Total Monthly Income: _________________________ $


2. Budget Allocation

Allocate percentages and amounts across Needs, Wants, and Savings. Ensure percentages total 100% and amounts match your income.

CategoryAllocation (%)Amount ($)
Needs____%$______
Wants____%$______
Savings____%$______
Total100%$______

3. Breakdown Details

For each category, list your specific items or goals and their individual amounts.

Needs (essentials like rent, utilities, groceries)

  1. ___________________________________________ $______

  2. ___________________________________________ $______

  3. ___________________________________________ $______

Wants (non-essentials like entertainment, dining out)

  1. ___________________________________________ $______

  2. ___________________________________________ $______

  3. ___________________________________________ $______

Savings (emergency fund, long-term goals)

  1. ___________________________________________ $______

  2. ___________________________________________ $______

  3. ___________________________________________ $______

4. Reflection & Next Steps

  1. What trade-offs did you make to balance your budget? Why?





  2. How will you monitor and adjust this budget each month?





  3. What is one habit you will adopt to stay on track with your savings goal?





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