Page 1 (Day 1): Fixed or variable, the 50/30/20 math, and the one-week estimate
Name: ______________________ Date: __________ Period: ______
A budget is _________________________________________________________________ (copy from the slide)
Part A: Fixed or variable?
Fixed: the same amount every month, and skipping it has a consequence. Variable: it changes, and you control it. Write F or V.
| # | Expense | F or V |
|---|---|---|
| 1 | Phone plan, $35 a month | |
| 2 | Pizza slice with friends on Friday | |
| 3 | Monthly bus pass | |
| 4 | Birthday gift for a friend | |
| 5 | Streaming subscription | |
| 6 | New sneakers | |
| 7 | Sports club dues, $20 a month | |
| 8 | Bubble tea | |
| 9 | School lunch account, refilled every month | |
| 10 | A video game on release day |
The 50/30/20 guide, at your scale
Adults: 50 percent of net income to needs, 30 percent to wants, 20 percent to savings. For a teen, the order matters more than the percents: save first (at least 20 percent), cover fixed needs, then wants with what is left.
Practice on a $140 month:
20 percent of $140 = $______ (savings, first)
50 percent of $140 = $______ (the most that should go to needs)
30 percent of $140 = $______ (the most that should go to wants)
My SMART goal from Lesson 2.4: I want $______ by ______ (month). That is ______ months away. Monthly savings needed: $______ divided by ______ = $______ a month.
Part B: My next seven days (an estimate)
Think ahead. Write every dollar you expect to get and every dollar you expect to spend. Use real prices.
| Day | In or out? | What is it? | Amount |
|---|---|---|---|
| $ | |||
| $ | |||
| $ | |||
| $ | |||
| $ | |||
| $ | |||
| $ | |||
| $ | |||
| $ | |||
| $ |
Total money in: $______ Total money out: $______ Projected balance (in minus out): $______
The twelve-dollar question. Circle every "out" line that is a want under $5. Add them: $______ a week. Times 4: $______ a month. If you saved just those, in a year you would have: $______.
Exit line (3-2-1)
3 expenses I estimated: ________________, ________________, ________________
2 that are fixed: ________________, ________________
1 number: my small wants for a month: $________
Page 2 (Day 2): Scenario cards (teacher cuts; one card per student)
All prices are Long Island prices for 2026 and marked. Every person on these cards is made up.
Card A: Mateo, age 13
Income: allowance $15 a week ($60 a month) plus dog walking, two dogs, $10 a walk, four walks a month ($40). Monthly net income: $100. (No deductions; nobody takes taxes out of an allowance.)
Fixed expenses (must pay every month): share of the family streaming plan, $5; school lunch account refill, $35.
Variable expenses (his usual month): pizza slice with friends on Fridays, $4 each, four Fridays; bubble tea, $7, about twice a month; a game skin or app, $10; a gift for his sister's birthday this month, $20; snacks from the deli, $3 a day on days he forgets lunch, about five days.
Savings goal (from his SMART goal): a concert ticket, $120, in four months.
Card B: Priya, age 16
Income: cashier at a supermarket, 12 hours a week at $17.00 an hour. Gross $204 a week. About 17 percent comes out in deductions. Monthly net income: about $680 (four weeks).
Fixed expenses: phone plan, $35; monthly bus pass, $60; gym membership, $30; a music subscription, $12.
Variable expenses (her usual month): food out with friends, $80; clothes, $60; ride share when the bus does not run late, $15 a ride, about four rides; movies, $17 a ticket, twice; skin care and hair, $40; gifts, $20.
Savings goal (from her SMART goal): $2,000 toward a used car in 12 months.
Card C: Jasmine, age 15
Income: summer camp counselor, eight weeks, $2,400 net for the whole summer. No income during the school year. She has to make it last ten months (September to June). Monthly net income to budget: $240.
Fixed expenses: phone plan, $35; robotics club dues, $20 a month; school lunch account refill, $35.
Variable expenses (her usual month): food out, $40; a new pair of sneakers this month, $90; movies, $17, once; art supplies, $25; a gift, $15; bubble tea, $7, three times.
Savings goal (from her SMART goal): a laptop for high school, $350, by June (ten months).
Card D: Theo, age 14
Income: babysitting for a neighbor, $15 an hour, about eight hours a month ($120), plus birthday and holiday money that averages $20 a month. Monthly net income: $140.
Fixed expenses: phone plan, $35 (a family rule: he pays his own line); school lunch account refill, $35; a game subscription, $10.
Variable expenses (his usual month): snacks, $3 a day, about ten days; a game on release day, $70; pizza Fridays, $4, four times; a haircut, $25; a gift, $15.
Savings goal (from his SMART goal): a week of sports camp, $300, in six months.
Page 3 (Day 2): The Budget Builder
Name: ______________________ Date: __________ My scenario: Card ______ (name: ______________)
Fill it in top to bottom. Save first. Fixed next. Wants with what is left. The bottom line must be zero or above.
Step 1: Income (net, not gross)
Monthly net income: $______
Step 2: Savings, first
Savings goal: $______ by ______ (______ months away). Monthly savings: $______ divided by ______ = $______
Income minus savings = $______ (this is what is left for everything else)
Step 3: Fixed expenses (needs; every line gets a number)
| Fixed expense | Amount |
|---|---|
| $ | |
| $ | |
| $ | |
| $ | |
| Total fixed | $ |
What is left after savings and fixed = $______ minus $______ = $______ (this is the most you can spend on variable expenses)
Step 4: Variable expenses (wants, and some needs you control)
Write what the person usually spends. If the total is more than what is left, cross out or cut wants until it fits. Show the cuts.
| Variable expense | Usual amount | Budgeted amount |
|---|---|---|
| $ | $ | |
| $ | $ | |
| $ | $ | |
| $ | $ | |
| $ | $ | |
| $ | $ | |
| Total variable (budgeted) | $ |
Step 5: The bottom line
Income $______ minus savings $______ minus fixed $______ minus variable $______ = $______
Zero or above? yes / no. If no, go back to Step 4.
Part D: The 50/30/20 check and one revision
Needs (fixed plus any variable needs) divided by income x 100 = ______ percent (guide: 50 or less)
Wants divided by income x 100 = ______ percent (guide: 30 or less)
Savings divided by income x 100 = ______ percent (guide: 20 or more)
Which line is furthest from the guide? _______________
One revision: I changed ______________ from $______ to $______ because the savings goal is ______________________ and __________________________________________.
(Grade 6: skip the percents and do the revision only.)
Pair check (a partner fills this in)
Checker's name: ______________________
Savings written first? yes / no. Every fixed line has a number? yes / no. Bottom line zero or above? yes / no.
One sentence of advice: ______________________________________________________________
Exit card
One thing I would change about this person's spending: ________________________________________
One line of my own budget I now want to write: _________________________________________
Summary lines (copy these into Part 7 of the Investor Report in Lesson 2.19, "Before" column)
| Line | This budget |
|---|---|
| Income (per month, net) | $ |
| Needs (total fixed, plus any variable line you marked as a need) | $ |
| Savings (paid first) | $ |
| Wants (total variable, minus any need) | $ |
| Total spending (needs plus savings plus wants) | $ |
| Balance (income minus total spending; must be 0 or more) | $ |
Project 02 revision box (leave blank until after Lesson 2.19)
After ClassroomStreet, I changed: ________________________________________________________
Because: ___________________________________________________________________________