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Get Real Budget Workshop! !. What’s it all about?. * 1 Hour workshop * Applicable to students regardless of how much previous financial education they have learned * Able to accommodate groups of any size. Workshop Goals for students. Quick exercise engages all students
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What’s it all about? * 1 Hour workshop * Applicable to students regardless of how much previous financial education they have learned * Able to accommodate groups of any size
Workshop Goals for students Quick exercise engages all students * Interactive* Students make an actual budget based on the information they are given* Introduces realistic salaries/income and expenditures for Louisiana* Reinforces importance of graduating high school and its impact on: - Earning potential - Available job opportunities
Realistic * Salaries and expenses are based on Louisiana’s wages and cost of living* Student loan debt is included for groups who have higher education in their packet* Each packet is based on a single person entering their fields (about mid-20’s) * Each group has a list of jobs available forthe educational level of their packet
Overview * We are role-playing how this works in classroom - We are the “teacher” - You are the “students”* Normally this takes 1 hour with students, we’ll do it in 8 minutes* We’re moving fast! Get help by raising your hand and Jump$tart will be walking around
Ready, Set, Get Real! *Break into teams and assign a team captain to read the packet to the group *EACH person in the group has a budget worksheet and must fill it out completely
Things to Know * Pay attention to whether your data is weekly/monthly/annually*Use basic math to calculate your MONTHLY budget * Round your decimals up or down to keep whole numbers
Any questions? We’ll let you know when we are at half-way point and 2 minutes to go
Get Ready…… Go! Remember:Round decimals up or downWork as a team to get your budgets filled out We’re here to help!
. 2 Minutes to go!
DONE! Report Out & Discussion
In the Classroom 1) Each captain would stand and read their cover page (list applicable jobs) and final budget amount 2) Teacher writes that educational level on board and the amount “left over” in the budget
Class Debrief * Explain that everyone had same regular expenses * Only difference is higher education level budgets included the corresponding student loan payment * Salaries and expenses are realistic for our area
Class Discussion: 1 of 2 * Pose questions to the class - How many of you thought this was a pretty “bare budget?” - Who’s surprised at the difference in salary between having and not having a high school diploma? - The amount you have left over each month is what you can spend on “extras” or “wants”
Class Discussion: 1 of 2 *Ask the class: How many of you would like to -spend money on travel or vacation?- have video games, an iPad, an iPhone or a Wii?- buy Christmas or birthday presents?- eat out or go to movies or have a date?- have a family one day? (average baby costs $7,000/yr)- what are some other things you enjoy now that you don’t want to have to give up?- look at your budget and decide what would you give up if you’re income was low because you had not graduated high school- what would you let go?
Please share your feedback! Please fill out the workshop evaluation form and leave it with me on your way out. Put what you’ve learned into practice—you can do it! THANK YOU!
