In this lesson, we will learn personal financial management strategies based on budgeting. We will learn the theoretical concepts involved with budgeting and financial management, including income, expenses, savings, and debt.  We will see how a college student learned to manage his budget. We will then complete activities creating three different saving and spending scenarios based on your life and your expenses. After completing these activities, we will use the online interactivity "Bank It or Bust" to utilize the financial management concepts and strategies we have learned.

As a final activity, students will brainstorm ways to manage their own budgets while making room for investments, like classes, that will help their personal development in the long run. In this way, students are examining ways to save money to "invest" in themselves, for a return in their lives over the long-term.

Activities:

1. Dreams for the Future - Brainstorm four different dreams for your future, and the steps you need to take now to achieve that dream, along with the potential cost of the current steps.
2. Moving Out - Think about areas where Eddie could spend less money
3. Debt / Savings

   Senario 1:  Debt - Fill in expenses with as much expense as you would like in each catagory.  
   Senario 2:  Break-Even - Your goal is to spend exactly $500.
   Senario 3:  Savings - Lower your costs below those of the Break-even Senario in order to have savings.

4. Bank It or Bust It - Create and modify a budget, and then stick with it for ten weeks with a goal of saving up to buy a car.