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How would you spend $300


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How would you spend $300

  1. 1. How Would You Spend $300? Personal Finance Lesson: Howdoes your spending reflect your values?
  2. 2. Find a partner and discuss thefollowing questions: 1. What were the last three purchases you personally have made? 2. Why did you make these purchases?
  3. 3. Your situation: In high school, you work a part time job and earn $300 a month while your parents still pay for your basic needs. You must decide how you will spend your money for 4 weeks. Allocate, or assign for a purpose, your money from the following options.
  4. 4. Expense Options: Entertainment/FoodTransportation  Music - $15/CD Car - $250 (includes  Computer Games - insurance, gas, etc) $50/game Public Transportation -  Movies $10 ticket $50  Movie/Game Rental - $3Clothing  Restaurant - $15/visit Designer - $150  Fast Food - $7/visit Bargain Brands - $50  Eat at home – freeCharity - Local  Hang with friends – free organization that helps others. You decide the amount. Save - You decide the amount.
  5. 5. Allocate your $300 and answer the following questions on the back of your worksheet. What is the one thing on the list you would keep as a priority to buy if you had this set monthly income? Why? Were most of your spending choices based on status (to look good), savings (have money later), personal preference, or something else? Would you save any of the money? If so, what is the goal? If not, how would an emergency affect your budget? What impact would a rise in cost of one of these items have on your decision to purchase this particular item? Would you change your spending choices?