Describe your reactions to your budget. You must address the following: –
Could you afford everything that you needed and wanted? If not, explain. – Did you have to eliminate things?
Explain how you made these choices. – Were you surprised by the cost of anything? Explain.
– Were you surprised about the amount of taxes you had to pay? Explain. – Did you have any money remaining after you’ve paid your basic expenses?
If so, how much money did you have left? If you did experience this situation,
What did you do with the extra money?
Explain. – What additional expenses, fees, taxes, etc. would you possibly have to pay that I did not make you include? Look over all of the items in your budget and talk to your parents or other adults for ideas.
categories/items would probably actually cost more?
Explain. What categories/items would possibly cost less? Explain
. – In real life, what are some ways that you could save money that were not allowed under the guidelines of this project?
– Talk to your parents or other adults when doing this project, they know the pain!!!
One page reflection: Did this assignment help you better understand costs and taxes and income?
What was your feeling about this assignment after completing it?