Budget Planning Worksheets
Used in: Weeks 10–11 (Budgeting & Emergency Funds)
These worksheets guide learners through creating a simple budget. Start with the guided version, then try the open-ended version.
Worksheet 1: Guided Weekly Budget
Scenario: You receive $25 per week for all your spending. Plan how you will use it.
Step 1 — List your needs first
Needs are things you must have.
| Need | Estimated Cost |
|---|---|
| Example: School lunch supplies | $5 |
| $ | |
| $ | |
| $ | |
| Total Needs | $ |
Step 2 — Subtract needs from your total
| Amount | |
|---|---|
| Total money | $25 |
| Minus total needs | − $ |
| Money left | $ |
Step 3 — Decide on wants and savings
Now split the remaining money between things you want and money you save.
| Want or Save | Amount |
|---|---|
| $ | |
| $ | |
| $ | |
| Total Wants | $ |
| Total Savings | $ |
Step 4 — Check your math
| Amount | |
|---|---|
| Total Needs | $ |
| Total Wants | $ |
| Total Savings | $ |
| Grand Total | $ |
Does your grand total equal $25? ☐ Yes ☐ No (go back and adjust!)
Worksheet 2: Event Budget
Scenario: You are planning a small classroom party. Your total budget is $40.
What do you need for the party?
Brainstorm items, then categorize them as needs or wants.
| Item | Need or Want? | Estimated Cost |
|---|---|---|
| Example: Paper cups | Need | $3 |
| $ | ||
| $ | ||
| $ | ||
| $ | ||
| $ | ||
| $ | ||
| $ |
Budget Summary
| Category | Total |
|---|---|
| Total Needs | $ |
| Total Wants | $ |
| Money Left Over | $ |
| Grand Total | $40 |
Reflection
- Did you have enough money for everything? If not, what did you cut?
- Which want was the hardest to give up?
- Would you plan differently if you did it again? How?
Worksheet 3: Open-Ended Personal Budget
Create your own budget for any amount and any time period.
My budget is for: ________________________________
Time period: ☐ One week ☐ One month ☐ One event
Total money available: $__________
My Budget Plan
| Category | Item | Amount |
|---|---|---|
| Need | $ | |
| Need | $ | |
| Need | $ | |
| Want | $ | |
| Want | $ | |
| Save | $ | |
| Give | $ |
Summary
| Amount | |
|---|---|
| Total Needs | $ |
| Total Wants | $ |
| Total Savings | $ |
| Total Giving | $ |
| Grand Total | $ |
| Budget Amount | $ |
| Difference | $ |
Self-Check
- ☐ My grand total matches my budget amount (or is less)
- ☐ I covered my needs first
- ☐ I included at least some savings
- ☐ I can explain why I chose each item
Budget Adjustment Cards
Use these surprise events with any budget worksheet. Draw one card and adjust your budget.
| Card | Event | Impact |
|---|---|---|
| 🎁 | You receive a $5 gift from a relative. | Add $5 to your budget. Where does it go? |
| 🔧 | A needed item breaks and must be replaced. | Add $4 to your needs. What do you cut? |
| 📈 | Prices went up! One item now costs $2 more. | Increase one need by $2. Adjust your plan. |
| 🎉 | A friend invites you to a fun event. Entry is $6. | Can you fit this want into your budget? |
| 💡 | You find a cheaper option for one of your needs. | Save $3 on one need. What do you do with the savings? |
| ❌ | One of your wants is sold out. | Remove it from your budget. Redistribute the money. |
Facilitator Notes
- Encourage learners to complete the guided worksheet first before the open-ended one.
- Remind them: a budget is a plan, not a punishment. There is no single right answer.
- The budget adjustment cards are great for extending the activity when groups finish early.
- For younger learners (ages 8–9), work through one worksheet together as a group before independent work.