Personal Finance Budget Simulation

Fifth grade students in Texas are expected to be able to describe the importance of creating a budget in which income and expenses are balanced. Use this fun simulation/game to introduce the concept in a relevant way to your kiddos!

To play, students will only need whiteboards or lined paper to keep track of their expenses. Each student will start out with $20 in allowance money and will be asked to make spending decisions as they travel throughout the mall with their best friend.

An unexpected call from mom at the end of the simulation will put students in a frenzy! Did they save enough of their money to make this last purchase?

Use an introduction to budgeting. After completing the simulation, use the slides to discuss needs vs. wants, the categories found in a budget, and the importance of saving money!