Living on a Budget
A Personal Budget WebQuest

Introduction | Task | Process | Resources
Evaluation | Conclusion

Introduction

Everyone wants to have enough money to live the kind of life he/she has always dreamed of.  Unfortunately, life does not always cooperate with one's hopes and dreams.  However, it is still possible to achieve some of one's dreams through some careful planning and preparation.

One way to plan is to set up a budget.  A budget is an organized way to show how one plans on spending one's money.  A budget shows how much money one is making versus how much one is spending.  Further, a budget provides a means of prioritizing one's spending and helps to illustrate the difference between what one wants versus what one needs.

Task

In this exercise, you will design a budget.  You will have some control and choice over the events which take place that may affect your budget.  However, like life, there will be some unexpected bumps along the way.

At the conclusion of this exercise, you will have designed and "lived" on a budget for 12 months.  You will be expected to complete the following:

  1. Create a livable budget using the information provided to you.

  2. A Microsoft Excel spreadsheet showing your income and monthly expenses.

  3. Write monthly checks for your bills.

  4. Balance your checkbook with your monthly bank statements.

  5. Problem solve when unexpected events arise.

Process

You will be provided with an identity.  This identity will be based on your assumed level of education as you leave high school.  You will be provided a job and an income.  It will be up to you to find the following:

  1. A place to live.  In what city will you be living?  Are you going to rent a house?  an apartment?  Are you going to have a roommate?
  2. A mode of transportation.  Are you going to buy a car or travel by bus?  You will not be allowed to say that Mom and Dad are giving you a car unless you are currently driving it and you bring a note from them stating that it will be your upon graduation.

You will use the newspaper or the Internet to locate these items.  You will need to provide proof that these items exist by either clipping the ad from the paper or printing the page from the Internet.

One this information has been determined, you will be provided with monthly bills.  You will have some control over the bills you receive.  For example, you will have to decide whether you are going to have cable, Internet access, etc.

Some of these bills will be standard.  Others will occur from time to time.  Still others may surprise you - you never know when an accident or medical condition might strike.

Resources

Use the following list of information to help you.

Evaluation

You will be evaluated on how well you designed your budget and how well you remained within the limits of your budget.  This project is more about the process than the end product.  Essentially, if you put forth a good effort and complete every component, you will do well on the project.  If you are slack and do not make the best use of the time or resources provided, your grade will reflect this poor attitude.

Conclusion

It is my hope that this overall process will be a learning one.  My goal is not to scare you, but to make you aware of the reality that is awaiting you in the next year.  Please take this project seriously.  Outside these school walls, the world is not as forgiving or as accommodating as we sometimes are.

Last Updated on November 13, 2000
by Mr. Carl

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