Week 17: Resources and Costs
Part of The Value Creation Project | Focus: Entrepreneurship and Application
Over the past two weeks, students have identified a real problem and designed a solution. They have a clear idea — something they can describe, draw, and explain. Now comes an important question:
What does it actually take to build this?
Every product, every service, every project in the real world requires resources — the things needed to make an idea come to life. Materials, tools, time, effort, and money are all resources. And because resources are limited, creators must plan carefully. They cannot use everything on one part of the project and have nothing left for the rest.
This week, students learn to think about inputs (what goes into creating something) and how to manage those inputs wisely using a budget. This connects directly to the budgeting and opportunity cost skills they practiced in Weeks 9 and 10 — but now they are applying those skills to their own project.
This Week's Anchor Activity: The Resource Budget — students list the resources they need, estimate costs, and build a realistic budget for their project.
- Ages: 8–12 | Sessions this week: 3 (about 20 minutes each)
- You do not need to teach every bullet on the page. Use the learning goal and one or two activities for the session you are teaching today.
- If time is short, teach one session well and leave the rest for later. The lessons are designed to stretch across the week.
- Session 3 works best after the learner has already explored the main idea with you once.
Key concept: Every project requires resources, and listing them with estimated costs helps you plan realistically. Core activity: Have each learner list the resources their project needs, estimate costs, and create a simple project budget (15–20 minutes).
Facilitator Preparation
- Have students bring (or recall) the solution design they created during Week 16. If a student does not have one ready, they can use one of the class examples or design a quick idea at the start of the session.
- Prepare materials for the Build a Project Budget activity (see Independent Session):
- blank paper, index cards, or notebooks for planning
- pencils and rulers (for drawing budget tables)
- play money or printed "budget dollars" (optional but helpful for making the activity tangible)
- a "Project Budget Worksheet" with columns for resource, description, and estimated cost
- Think of a few everyday examples of resources needed to create something:
- lemonade stand: lemons, cups, water, sugar, a table, time to set up and sell
- homework planner: paper, printer or copier, stapler, time to design and assemble
- yard care service: rake, bags, gloves, time to do the work, transportation
- Have a whiteboard or large paper for building an example budget together.
- Set up a visual timer for sessions.
This week is about planning and resource awareness — not about getting the numbers perfect.
Students are learning that ideas do not become real for free. Everything requires something — materials, time, effort, money. The skill they are practicing is thinking ahead: identifying what they need before they start, estimating how much it might cost, and deciding how to use limited resources wisely.
Do not worry about exact prices or precise calculations. The goal is the thinking process — the habit of asking "what do I need?" and "how will I use what I have?" before diving in. Rough estimates and round numbers are perfectly fine.
Connect this week explicitly to the budgeting and opportunity cost lessons from earlier in the curriculum. Students already know these concepts — now they are applying them to something personal.
Session 1
In Week 16, you designed your solution — sketching out what it looks like and how it works. This week, you figure out the practical side: what resources do you need and what will it cost? Time to use those budgeting skills from Week 10!
Quick check: What is the difference between a need and a want in a project budget?
(About 20 Minutes)
Inputs and Resources
Learning Goal
By the end of this session, the student can:
- explain that creating a product or service requires resources (inputs)
- identify common types of resources: materials, tools, time, effort, and money
- list the specific resources their own project idea would need
Activities
1. From Idea to Reality
Start by connecting to the previous two weeks:
"Two weeks ago, you found a problem. Last week, you designed a solution. You have a clear idea — you can describe it, draw it, and explain it. But here is the question we have not answered yet:"
"What does it take to actually build it?"
"Ideas are wonderful, but they do not become real on their own. Every product, every service, every project in the world requires resources — the things that go into making it happen."
2. What Are Resources?
Explain the five main types of resources that creators use:
"When someone builds a product or provides a service, they usually need some combination of these five things."
| Resource | What It Means | Examples |
|---|---|---|
| 🧱 Materials | The physical things used to create the product | Paper, wood, fabric, ingredients, paint |
| 🔧 Tools | Equipment or objects that help with the work | Scissors, a computer, a printer, a hammer |
| ⏱️ Time | How long it takes to create, prepare, or deliver | Hours of work, days of preparation |
| 💪 Effort | The energy and skill required to do the work | Learning something new, physical labor, careful thinking |
| 💵 Money | Cash or funds needed to buy materials or tools | Dollars spent on supplies, ingredients, or equipment |
Ask:
"Can you think of something you have made before — a school project, a drawing, a gift for someone? What resources did you need?"
Let several students share. For each example, help them identify which types of resources they used.
3. A Real Example: The Lemonade Stand
Walk through a familiar example together:
"Let's say someone wants to start a lemonade stand. What resources would they need?"
Build the list on the board as students contribute:
| Resource | Type |
|---|---|
| Lemons | Material |
| Sugar | Material |
| Water | Material |
| Cups | Material |
| A pitcher | Tool |
| A table | Tool |
| A sign | Material |
| Markers to make the sign | Tool |
| Time to set up | Time |
| Time to sell lemonade | Time |
| Effort to squeeze lemons and mix | Effort |
| Money to buy lemons, sugar, and cups | Money |
"That is a lot of resources for something as simple as lemonade! And this is true for almost everything. Even simple ideas need more resources than people expect."
Ask:
"What would happen if you forgot to plan for one of these? What if you had lemons but no cups? Or cups but no sugar?"
The point: planning ahead matters. Knowing what you need before you start helps you avoid problems later.
4. Your Project's Resources
Now have students think about their own project:
"Think about the solution you designed last week. If you were going to actually build it or provide it to someone, what resources would you need?"
Give students a few minutes to list their resources. They can use the five categories as a guide:
- What materials would you need?
- What tools would you need?
- How much time would it take?
- What effort or skills are involved?
- Would you need money to buy anything?
Have students share their lists with a partner, then invite a few to share with the group.
Discussion questions:
"Which resources seem most important for your project?"
"Are there any resources you might not have? How could you get them?"
"Could you create your solution using fewer resources? What would you change?"
Reflection Questions
- "What resources might be needed to create your solution?"
- "Which resources might be hardest to get?"
- "Are there ways to solve the problem using fewer resources?"
Session 2
(About 20 Minutes)
Costs and Budgeting
Learning Goal
By the end of this session, the student can:
- explain that resources have costs — in money, time, or effort
- describe how a budget helps creators plan and manage limited resources
- connect budgeting decisions to opportunity cost from earlier in the curriculum
Activities
1. Everything Has a Cost
Start with a key idea:
"Last session, we listed all the resources your project would need. Today, we are going to talk about something important: costs."
"Most resources are not free. Materials cost money. Tools cost money. And even when something does not cost money directly, it still costs time and effort — which have real value too."
Walk through the lemonade stand example again, this time with estimated costs:
| Resource | Estimated Cost |
|---|---|
| Lemons (bag of 6) | $3 |
| Sugar (small bag) | $2 |
| Cups (pack of 20) | $2 |
| Poster board for a sign | $1 |
| Markers | Already have them — $0 |
| Pitcher and table | Already have them — $0 |
| Total | $8 |
Point out something important:
"Some of these things cost money. But some are free because we already have them. That is worth noticing — you do not always need to buy everything. Sometimes the resources you already own can be used."
Also highlight:
"And we have not even counted time yet. Setting up, making the lemonade, and selling it might take two or three hours. That time has value too — remember, that is time you could spend doing something else."
Ask:
"What does that remind you of from earlier in the curriculum?"
If students remember: opportunity cost from Week 9. Every resource you use for one thing is a resource you cannot use for something else.
2. What Is a Budget?
Introduce the concept (connecting to Week 10):
"You already know about budgets — we practiced making them in Week 10. A budget is a plan for how you will use your resources."
"When creators and entrepreneurs build something, they almost always start with a budget. They ask themselves:"
Write on the board:
- What resources do I need?
- How much does each one cost?
- How much money (or time, or materials) do I have available?
- How do I use what I have wisely?
"A budget does not make things cheaper. It makes you smarter about how you spend. It forces you to think before you act."
3. Budget Decisions
Walk through a scenario:
"Imagine you have $10 to spend on your project. Here are the resources you need:"
| Resource | Cost |
|---|---|
| Materials | $5 |
| Supplies | $4 |
| A printed sign | $3 |
| Total needed | $12 |
"You need $12 worth of resources, but you only have $10. What do you do?"
Let students brainstorm. Possible answers:
- Make the sign by hand instead of printing it (saves $3, now total is $9 — under budget!)
- Use cheaper materials (maybe $3 instead of $5)
- Skip one supply and find a substitute
- Ask if you can borrow a tool instead of buying one
"This is what budgeting looks like in real life. You figure out what you need, discover it costs more than you have, and then get creative. You prioritize. You find alternatives. You make tradeoffs."
Ask:
"Which resource would you cut if you had to? Why?"
"Is there a resource you absolutely cannot cut? Why not?"
4. Budgeting Your Own Project
Have students apply this thinking to their own solution:
"Now think about your project. Imagine you have a budget of $10 to create your solution. How would you spend it?"
Give students a minute to think, then have them share with a partner:
- What would you spend the most on?
- What could you get for free or make yourself?
- What would you cut if you had to?
Invite a few students to share with the group. Highlight creative resource decisions:
"Notice how [student] figured out they could borrow a tool instead of buying one. That is smart budgeting — using what you already have."
Reflection Questions
- "Which resources are necessary for your solution and which might be optional?"
- "How could someone reduce costs if their budget is tight?"
- "Why is it important to plan your resources before you start building?"
Session 3
(About 20 Minutes)
Build a Project Budget
Instruction
In this activity, students create a complete resource plan and budget for the solution they designed in Week 16. They identify every resource they would need, estimate costs, and practice making decisions within a fixed budget — bringing together skills from budgeting (Week 10) and opportunity cost (Week 9).
Setup:
Each student needs a Project Budget Worksheet — a piece of paper (or notebook page) set up as a table with columns for each resource. Alternatively, provide a pre-printed worksheet or index cards.
Step 1: List Your Resources
Students list every resource they would need to create their solution. They should think about all five categories:
| Category | Resources Needed |
|---|---|
| 🧱 Materials | (list items) |
| 🔧 Tools | (list items) |
| ⏱️ Time | (estimate hours or days) |
| 💪 Effort | (describe work involved) |
| 💵 Money | (estimate total budget needed) |
Encourage students to be specific. Instead of writing "supplies," they should write "poster board, markers, tape, and glue."
Step 2: Estimate Costs
For each resource, students estimate how much it would cost. Use round numbers — this is about practicing the thinking, not getting exact prices.
Rules for estimating:
- If you already own it, the cost is $0 (but note that you are using it).
- If you need to buy it, estimate a reasonable price.
- For time, estimate in hours. (Optional: assign a "value" per hour, like $1/hour, to show that time has cost too.)
Example budget for a homework planner project:
| Resource | Already Have? | Estimated Cost |
|---|---|---|
| Paper (20 sheets) | No | $1 |
| Printer ink (from home printer) | Yes | $0 |
| Stapler | Yes | $0 |
| Colored pencils for decoration | Yes | $0 |
| Ruler | Yes | $0 |
| Time to design (2 hours) | — | — |
| Time to print and assemble (1 hour) | — | — |
| Total money needed | $1 |
Example budget for a yard care service:
| Resource | Already Have? | Estimated Cost |
|---|---|---|
| Rake | Yes | $0 |
| Trash bags (box of 10) | No | $3 |
| Gardening gloves | No | $2 |
| Watering can | Yes | $0 |
| Time per visit (1.5 hours) | — | — |
| Transportation (walking) | — | $0 |
| Total money needed | $5 |
Step 3: Set Your Budget
Give each student a fixed budget to work with. The default is $10 in play money or budget dollars.
Students compare their total estimated costs to their budget:
- Under budget? Great — they have room for extras or unexpected costs.
- Over budget? They need to make decisions. What can they cut, substitute, borrow, or do differently?
This is where the real learning happens. Students who are over budget must:
- Prioritize which resources are most important
- Find creative substitutions (make a sign by hand instead of printing, borrow tools instead of buying)
- Simplify their idea if necessary
- Decide what tradeoffs to make — connecting directly to opportunity cost
Step 4: Finalize Your Budget
Students create a clean version of their budget — a simple table showing:
| Resource | Cost | Notes |
|---|---|---|
| (item) | (amount) | (bought, borrowed, already own, etc.) |
| (item) | (amount) | |
| Total | $___ | Budget: $10 |
They should be able to explain:
- What they are spending money on and why
- What they chose to cut or substitute and why
- How much of their budget is left over (if any)
Step 5: Share and Compare
Students present their budgets to the group (or to a partner):
- "What does your project need?"
- "What was the most expensive resource?"
- "Did you have to cut anything? What did you change?"
- "How much of your budget did you use?"
Discussion questions for the whole group:
- "Which resources were most expensive across everyone's projects?"
- "What creative ways did people find to reduce costs?"
- "How did budgeting change your design? Did anyone simplify their idea?"
- "What would happen if you had $20 instead of $10? Would you change anything?"
- "What would happen if you only had $5? What would you cut first?"
Running the Activity
In a classroom: Give students 10–12 minutes for Steps 1–3 (listing resources, estimating costs, comparing to budget). Use the remaining time for Steps 4–5 (finalizing and sharing). Consider using physical play money — handing each student $10 in bills makes the budget feel real and forces concrete decisions.
At home or in a small group: Work through the budget together as a conversation. The caregiver can help the student look up approximate prices for items (or estimate together). Building the budget collaboratively mirrors how real families plan spending.
For younger students: Simplify the categories to three: "Things I Need to Buy," "Things I Already Have," and "Time It Takes." Use a smaller budget ($5) and fewer resources. Focus on the concept of choosing between options rather than exact math.
For older students: Add a "revenue" row — if the student could sell their product or charge for their service, how much could they reasonably charge? Compare revenue to costs. Do they "make money" or "lose money"? This introduces the concept of profit without using the term explicitly. Also try different budget amounts ($5, $10, $20) to see how constraints change decisions.
As a multi-day activity: Day 1: Steps 1–3 (list resources, estimate costs, compare to budget). Day 2: Steps 4–5 (finalize, share, compare). Between sessions, students can "research" actual prices by checking a store, looking online with a caregiver, or asking an adult — making the estimates more realistic.
Skills Reinforced
- identifying the resources required to create a product or service
- estimating costs using reasonable approximations
- creating and managing a simple budget
- making tradeoff decisions when resources are limited (opportunity cost)
- communicating resource plans and justifying decisions
Facilitator Notes
This week bridges the gap between having an idea and making it real.
Students have spent two weeks in the creative, imaginative phase — finding problems and designing solutions. This week adds a crucial dose of reality: what does it actually cost to build this?
This is not meant to discourage students. It is meant to empower them. When you know what resources you need and plan how to use them, your idea becomes more achievable, not less. Budgeting is not a limitation — it is a tool that turns dreams into plans.
The key connection this week is to opportunity cost (Week 9) and budgeting (Week 10). Students already understand these concepts in the abstract. Now they are living them — making real decisions about how to allocate limited resources for their own project. This is where earlier lessons become personally meaningful.
Watch for the "aha" moment when students realize they are over budget and need to make tradeoffs. That moment — the slight frustration of not being able to have everything, followed by the creativity of finding alternatives — is the entire lesson in action.
Encourage facilitators to:
- Use physical play money if possible. Handing a student ten dollar bills and watching them "spend" the bills on resources makes abstract budgeting feel concrete and real. When the money runs out, the lesson sticks.
- Celebrate creative cost-cutting. When a student says "I can make the sign by hand instead of printing it" or "my neighbor has a rake I can borrow," highlight it. That is real-world resourcefulness — a skill that matters far beyond this curriculum.
- Connect explicitly to earlier lessons. Say things like: "Remember opportunity cost? You are experiencing it right now. Spending $4 on materials means you only have $6 left for everything else. That is a tradeoff." Making these connections reinforces the mental models students built earlier.
- Avoid perfection in the numbers. Estimated costs do not need to be accurate to the penny. If a student says "I think poster board costs about $2," that is close enough. The point is the process of thinking about costs, not getting the arithmetic right.
- Let students feel the constraint. It is tempting to give students a bigger budget so they do not struggle. Resist that urge. The struggle of being over budget and needing to make hard choices is where the deepest learning happens. A tight budget forces creativity.
- Remind students that real businesses face the same challenge. Every company, every entrepreneur, every creator in the world deals with limited resources. The students are not doing a "kid exercise" — they are practicing the exact same skill that adults use every day.
Not every learner has access to play money, poster boards, or craft supplies. This lesson works just as well with:
- Pencil and paper only — learners list resources and estimate costs in a simple table
- Verbal planning — the facilitator walks through the budget as a conversation, no materials needed
- Imaginary budgets — learners plan what they would need rather than what they have, focusing on the thinking process
The goal is the planning skill, not the physical materials. A learner who can describe their resource needs and make tradeoffs verbally has achieved the learning goal just as effectively as one who used play money and worksheets.
Age Adaptation Notes
Ages 8–9:
- Simplify categories to three: "Things I Need to Buy," "Things I Already Have," "Time It Takes."
- Use a smaller budget ($5) and fewer resource items.
- Focus on the concept of choosing between options rather than exact math.
- Let learners draw their resources rather than listing them in a table.
- Keep the tradeoff discussion to one clear example: "You can afford markers OR poster board — which one?"
Ages 10–12:
- Use more realistic resource lists and prices.
- Add a "revenue" row: if they could sell or charge for their solution, how much?
- Challenge them to compare multiple budget amounts ($5 vs. $10 vs. $20) and see how constraints change decisions.
- Discuss the difference between "nice to have" and "must have" resources.
- Ask: "What would a real business do if they ran out of budget? Give up, or find creative alternatives?"
Check for Understanding
- What are "resources"? Name three types of resources someone might need for a project.
- Why do creators need to think about costs before building something?
- What happens if a project's costs are higher than the budget?
- How is a project budget similar to a personal budget? (Connect to Week 10.)
- What tradeoff did you make in your project budget, and why?
What Success Looks Like
By the end of this week, a learner is on track if they can:
- List the resources needed for their project (materials, time, effort)
- Estimate approximate costs for those resources
- Create a simple project budget that fits within a limit
- Make tradeoff decisions when resources are limited
- Connect this budgeting exercise to the budgeting and opportunity cost concepts from earlier weeks
Reflection Prompt
"What was the hardest tradeoff you had to make in your project budget? If you had twice the budget, what would you add first? Why?"
Companion Materials
- Capstone Planning Guide — Resource list and budget worksheets (Steps 7–10)
- Glossary — Kid-friendly definitions for all key terms
- Facilitator Quick Reference — One-page facilitation guide
Preview of Next Week
Next week is the finale — the Value Showcase. Students will present their completed projects: the problem they found, the solution they designed, and the budget they planned. They will explore how creators share their value with others and reflect on everything they have learned across the entire 18-week journey.