Build a Budget

Our latest math exploration is building a budget.  The children decided what they want to be when they grow up.  They took this information and figured out how much their yearly income would be.  Then they had to:

Watching the children conquer this dilemma was impressive.  They determined both the state and federal tax rates.  They slowed down once they got the answers, not sure exactly what to do next.  Suddenly I heard, "What?!"  Mystery solved, taxes take about 1/3 of our income right off the bat.  Yuck!

To stay stay true to our learning, I asked the students to determine their weekly salary after taxes.  They had to remember that a year has 52 weeks.  This was met with more apprehension.  "Really?"

Our final reality check was the idea of bills and expenses.  "What do you mean a list of expenses?"  

Just wait til they have to use the circulars to determine the groceries, the Sunday paper to buy a car (and gas prices), as well as rent or a mortgage.  We will be sure to keep you posted!