Budgeting Matrix | Categorize Spending by 'Importance' and 'Urgency' Activity
- Zip
What educators are saying
Also included in
Most personal finance courses start with needs vs wants, cashflow tracking, and then basic budgeting. This bundle includes everything you need to hook students in, learn through exciting, engaging, and educational activities, and then practice the skills learned in a way that will help prepare studePrice $43.29Original Price $54.11Save $10.82
Description
Are you looking for an exciting and engaging way to teach money management, budgeting, needs vs wants, spending habits, wealth building, financial planning, or entrepreneurship?
Needs and Wants are a great starting point for a conversation about spending and prioritizing our budget, but too often an item doesn't fit neatly into a single side of the equation. There is more to our spending habits than just breaking it down into needs or wants. There is a spectrum of things that we value, have a time-sensitive nature, or cannot safely live without.
This is a higher level, hands on activity that builds off of the Eisenhower (US President) Matrix for time management, made more famous by Stephen Covey in The 7 Habits of Highly Effective People. It takes the Matrix that is used for thinking about how you spend your time, and instead shifts the focus to money!
Students are given up to 100 cards featuring items found in average Americans spending. They then categorize spending on the item by importance and urgency into one of four quadrants. This makes a wonderful group or whole class activity, with the aim of prompting discussion, debate, and sharing of experiences. All of which will help deepen student understanding of how to prioritize their spending and create spending plans that match their values/goals.
Included in the resource:
- 100 printable item cards
- Budget Matrix Work Mat (8.5"x11" and 11"x17" sizes included)
- Teacher instructions and suggested prompts to use in class
- Introduction to the topic, explanation of the matrix, and instructions for the activity video which can be played for the students prior to starting the activity or simply used to inform the teacher beforehand.
This resource is a great follow up to my Needs vs Wants Sorting Activity, and Space Quest | Needs vs Wants Game.
You can also supplement this resource with the great free resources from my friends at Pockets Change, including a Spending Values Matrix that would follow on from this activity perfectly!
Reviews
Questions & Answers
