NOTE: This is a cost-of-living budget simulation project in which students calculate monthly and yearly projected costs and learn to manage their budget (money).

STANDARD: All students will be able to identify career areas which are nontraditional to their gender.

GRADE LEVEL: 9-12, Mathematics

OBJECTIVE(S): All students will be able to calculate their living expenses with respect to their non-traditional career choice, for money manageability.

TIME: 3-4 class periods

MATERIALS:

• Handouts on approximate living expenses, budget sheets. Students may also need research accessibility in the library for surfing the internet.
• "Household cash flow" and "My Budget" handouts.

PROCEDURES:

1. Library day in which students can research non-traditional careers that pose an interest to them.
2. From the research, students will discover what is expected from his/her job choice in terms of schooling an related work involved in order to qualify for the job.
3. The students formulate the cost of living supplement sheets, research or home investigation in order to be able to complete the "Household Cash Flow" sheet. Sample "My Budget" sheets should guide the development of students’ respective budgets.
4. The students should calculate an automobile loan to access a monthly payment or seek an apartment or house, depending on income and affordability.
5. The students take the monthly calculated costs of living on a charted budget sheet; then total these costs over the course of the year: The goal would be to have some extra money at the end of each month, as well as the end of the year:
6. The students look at actual costs and get a realistic viewpoint of their budget; they balance a checkbook in conjunction with their budget sheet without overdrawing their account or going bankrupt.

VARIATIONS: Depending on the grade level, the depth of the project can range from simplicity to complex formulas of simple interests on bank accounts, financing a car, and mortgaging a house over the course of 30 years with interest rates.

REFERENCES:

WEBSITES

1. http://www.education.com/teachspace/index.jsp
2. http://www.atmos.uiuc.edu
3. http://www.askeric.org/Virtual/Lessons/
4. http://www.mathnews.uwaterloo.ca/
5. www.equity.com
6. http://www.awsem.com/gender.html
7. http://www.choices.edu/edcurricpage.html

Main Lesson Plan || My Budget Handout || Household Cash Flow Handout