My First Budget Worksheet: Be a Money Master!

Name: ____________________________
Date: ____________________________

Part 1: Needs vs. Wants - What's the Difference?

Below is a list of items. Mark an N if it's a Need (something you must have) or a W if it's a Want (something you desire but can live without).

1. ___ Food
   
   
2. ___ New Video Game
   
   
3. ___ School Uniform
   
   
4. ___ Latest Smartphone
   
   
5. ___ Water
   
   
6. ___ Movie Tickets
   
   
7. ___ Shelter (a place to live)
   
   
8. ___ Trendy Sneakers
   
   

Part 2: My Income - Where Does My Money Come From?

Think about any money you receive regularly (or even once in a while). List your income sources and how much you typically get.

Part 3: My Expenses - Where Does My Money Go?

Now, let's think about what you spend your money on. Categorize your expenses as Needs or Wants.

My Needs (What I must spend money on):

My Wants (What I desire to spend money on):

Part 4: My Simple Budget - Putting It All Together!

Use your totals from Part 2 and Part 3 to fill in your budget.

Total Monthly Income: $____________________

Total Monthly Expenses (Needs + Wants): $____________________

Money Left Over (Income - Expenses): $____________________

If you have money left over, what could you do with it? (Hint: Think about your goals!)

Part 5: Reflection

1. What was the most surprising thing you learned about your spending habits?
   
   
   
   
   

2. How can creating a budget help you reach your financial goals?
   
   
   
   
   

The Bean Budgeting Game: Spend Smart!

Objective: To make smart spending choices, prioritize needs, and manage a limited budget.

Materials:

• 20 dried beans (or small counters) per student
• Copies of this game sheet for each student
• A timer (optional, for rounds)

Instructions:

1. Get Your Beans! Each student starts with 20 beans. These beans represent your total budget for the month.

2. Identify Your Needs: Look at the list of items below. First, you must spend beans on all of your "Needs." Place the corresponding number of beans next to each need you choose. You cannot proceed to wants until all essential needs are covered.

3. Prioritize Your Wants: After covering all your needs, look at the "Wants" list. With your remaining beans, decide which wants are most important to you. You might not be able to get everything you want, so choose wisely! You can save any leftover beans for a future goal.

4. Calculate Remaining Beans: How many beans do you have left after making all your choices? Write it down!

5. Discuss! In small groups, discuss the choices you made. Was it hard to decide between wants? Did you have enough for all your needs? What did you learn?

Your Spending Choices:

Needs (You must spend on these first!):

• Basic Food/Snacks for the week (3 beans)
• School Supplies (2 beans)
• Transportation (Bus fare/Bike maintenance) (2 beans)
• Basic Clothing Item (e.g., socks) (1 bean)

(Place beans next to the needs you "bought." Remember, you need to cover all of these first if possible!)

Wants (Spend your leftover beans wisely!):

• New Video Game Download (6 beans)
• Movie Ticket (4 beans)
• Trendy T-Shirt (5 beans)
• Cafeteria Treat (extra dessert) (2 beans)
• Magazine/Comic Book (3 beans)
• Extra hour of Streaming Service (1 bean)

(Place beans next to the wants you "bought." You might not be able to get them all!)

Reflection:

1. How many beans did you have left after buying your needs and wants?
   
   
   
2. Was it easy or difficult to decide what to spend your beans on? Why?
   
   
   
   
   
3. If you had more beans, what would you have bought? If you had fewer, what would you have cut?
   
   
   
   
   
4. How does this game relate to real-life money management?
   
   
   
   
   

Saving for a Goal: My Financial Dreams Journal

This journal is a space for you to think about your financial future and the goals you want to achieve! Take your time to reflect and write honestly.

Journal Entry 1: My Dream Goal

1. What is one financial goal you have? It could be something short-term (like buying a new game or a book) or long-term (like saving for college, a car, or a special trip). Describe your goal in detail.
   
   
   
   
   
   
   
   
   
   
   

2. Why is this goal important to you? How would achieving it make you feel?
   
   
   
   
   
   

Journal Entry 2: The Money I Need

1. Estimate how much money you think you would need to achieve your goal. If you don't know exactly, make an educated guess.
   
   
   

2. How long do you think it would take you to save this amount of money, based on your current income (or potential income)?
   
   
   
   
   

Journal Entry 3: My Saving Plan

1. What are some specific steps you can take to save money for this goal? Think about things you could do to earn more, or ways you could cut down on your expenses (especially your "wants").
   
   
   
   
   
   
   
   
   
   
   

2. What might be challenging about saving for your goal? (For example, seeing friends buy new things, wanting to spend money right away, unexpected expenses). How can you overcome these challenges?
   
   
   
   
   
   
   
   
   
   
   

Journal Entry 4: The Future Me

1. Imagine you have achieved your financial goal. What does that feel like? What did you learn along the way?