Brian is glad to learn that he has been selected to attend an International 4-H conference in Peru in June. He will need to figure out a way to earn the additional $2000 he needs. It is already the end of January, so he will need to think fast to be ready for the June trip. He only has six months to earn money for it.
How would you plan a budget for Brian using the following information:
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Brian has $400 in his savings account that he has been saving for a car.
- Brian receives $15 each week. His lunch costs $12.50 for the week so he has $2.50 for pocket money.
- Brian's wallet was taken from the locker room - he lost $30 he was planning to use to buy new jeans for the trip.
- Brian's birthday is in March. He thinks he will receive about $150 in money gifts.
- Brian can earn $6.00 an hour by planting seedlings for his neighbor who raises Christmas trees. He can work 20 hours.
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Make a budget for Brian using the above information. Here is a start to Brian's budget. Finish it. Can you help him raise the money he needs within six months? You can do this on paper or on a computer spreadsheet. Include all income and all expenses.
Income:
- Birthday money
- Pocket money $2.50 x 4 weeks X 6 months
- Planting seedlings $6.00 per hour x 20 hours
- Expenses:
- Trip to Peru $2,000.00
- Jeans $30.00
- Then share your plan with another student. How did he/she achieve the same goal? Discuss the different possible strategies.
- Write up a budget for something you want to do - show both your income and expenses.