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Our Junior High students are required to take one quarter of personal finance. It is an overview of banking, saving and financial obligations. The students are first taught how to decide if it is a need or a want when it comes to spending money.
I would give the students an assignment where they would need to figure out a budget, find housing, a vehicle, pay for groceries, utilities, insurance and miscellaneous expenses. I would assign a career and salary to each student. For example, one student may be a doctor makes $250,000/year while another is a janitor who makes 23,000/yr.
Each student would have to figure out how to live within their salary while putting money in a savings account, pay their bills on time, purchase a vehicle to get them to work and even make a grocery list and stick to a budget for their Thanksgiving meal.
As frustrations set in for some students, guiding them to make decisions to purchase a smaller, less fancy vehicle for something more practical might be necessary. When it comes to grocery shopping, researching store ads the sale prices and coupons can be introduced.
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