Unit 8 Buy, Sell, Trade Lesson 4 Make a budget and stick to it
Talk about budget
Speak and read
- Work in pairs. Look at the picture. What do you think Carl’s thinking?
 
What can you see on the notepad?
Monthly budget
Income
Allowance $160
Paper route $40
Total:
Fixed expenxes
Transportation $60
Phone $12
School meals $50
Total:
Varible expenses
Snacks $16
Going out $48
Total:
- A Match the definitions to words and phrases on the notepad.
 - Regular cost that don’t change.
 - A part-time job delivering newspapers.
 - Costs that change from one month to the next.
 - The money you are given or earn.
 - Money from parents to pay for regular expenses and personal things.
 - The amount of money you have to spend on things.
 
B Work in pairs. If you made a monthly budget, what similarities and
differences would there be with Carl’s?
- Calculate the totals and savings in Carl’s budget. If he wants to buy sneakers that cost $45, how long will he need to save?
 - A Work in pairs. What can Carl do to cut his costs or increase his income?
 - Reflect Discuss these questions with the class.
 - What are the benefits of making a monthly budget?
 - Why can’t it be difficult to stick to a budget?
 - What are the best ways to make your budget cover your needs?
 
Reflection Point
Making a budget has many benefits. It makes you aware of how you spend money and helps you to make better decisions about your spending. It’s also a good preparation for when you leave home and have to adapt your expenses to your income.
- Extend Write your monthly budget. Does your income cover your expenses? If not, what could you do to stick to your budget?