(CNN Student News) -- Students will learn about the importance of monitoring their money and setting up personal budgets.
Point out that some people don't know where to start when it comes to creating a budget or personal financial plan because they don't keep track of their income and expenses. Instruct each student to keep a two-week "money diary" of his or her income (generated from jobs, allowances, etc.) and expenses (for essential and non-essential items). Direct students to list their income and expenses on a daily basis. Then, at the end of the two-week period, have them add up their total income and expenses. After students share their experiences, ask:
Have students discuss what they learned by monitoring their money, and how they think that this experience could benefit them when setting up a budget or financial plan later in life.
Standard 5. Makes general preparation for entering the work force
Level IV [Grade: 9-12]
Benchmark 19. Analyze information (e.g., compare benefits, annual incomes, job opportunities) associated with careers of interest
McREL: Content Knowledge: A Compendium of Standards and Benchmarks for K-12 Education (Copyright 2000 McREL) is published online by Mid-continent Research for Education and Learning (McREL) (http://www.mcrel.org/standards-benchmarks), 2550 S. Parker Road, Suite 500, Aurora, CO 80014
Standard VII: Production, Distribution and Consumption: Students will learn about how people organize for the production, distribution, and consumption of goods and services.
The Curriculum Standards for Social Studies (http://www.socialstudies.org/standards/) are published by the National Council for Social Studies (http://ncss.org/).
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