Budgeting to Reach a Financial Goal

Budgeting for goals requires practicing responsibility to stay on track and make payments towards necessary expenses. By maintaining a budget, we work positively towards goals while also showing that we can be trustworthy with our money.

Grade Level: 6-8

Character Skills

Trustworthiness
Responsibility

SEL Skills

Responsible Decision-Making
Self-Management

Academic Skills

Critical and Creative Thinking
Diligent Learner

Definitions

Trustworthiness

Be honest. Don’t deceive, cheat, or steal.
Have integrity. Do what you say you’ll do.
Keep your promises.
Be loyal. Stand by your values.

Responsibility

Do what you are supposed to do. Try your best.
Persevere. Keep on trying.
Be self-disciplined.
Think before you act. Consider the consequences.
Be accountable for your words, actions, and attitudes.

Responsible Decision-Making

Make decisions based on rationality, ethics, and effectiveness.

Self-Management

Regulate emotions, attitudes, and actions, and manage negative emotions and impulses.

Creative and Critical Thinking

Acquire, remember, understand, and apply knowledge.

Diligent Learner

Exhibit a growth mindset and willingness to learn from mistake.

Learn more about our character, SEL, and academic outcomes.

Share This Activity

This lesson is provided due to support from

Explore budgeting with your students using the “Budgeting to Reach a Financial Goal” lesson from Wells Fargo’s Hands on Banking curriculum. This lesson is designed for middle school students, but it can be modified to meet the needs of high school students.

Materials/Preparation

“Budgeting to Reach a Financial Goal” lesson plan and Prices to Make Your Head Spin! Activity
Pencil

Discussion Prompts

How does having a budget help you practice responsibility?
How does maintaining a budget show you are trustworthy?
How will a budget help you reach a financial goal?
Why does saving money show you are responsible?
Does your budget need to include saving money in order to be financially responsible? Why or why not?

Family Connection

Establishing a budget and sticking to it helps display two of the Six Pillars of Character: responsibility and trustworthiness. Talk with your child about the importance of a budget in your family. Explain what things you budget for, how a budget has helped you in your life, and what goals your budget reflects. Consider walking them through how you determine your budget and what things you prioritize when budgeting for the future.

You can work together as a family to complete the “Planning for a Big Expense” worksheet and discuss budgeting to meet a financial goal.