F1.3 Design sample basic budgets to manage finances for various earning and spending scenarios.

Activity 1: Bake Sale


Propose a bake sale to raise funds for an end-of-year trip. Explain to students that ingredients for a minimum of 5 different recipes will be needed. Invite students to come up with recipes and create a simple budget to determine the profits needed to make and cover the purchase costs for ingredients, packaging, labels, etc.

Activity 2: A Raptors Game


Suggest the following scenario:

João lives in Toronto and would like to go to a Raptors game. His tickets to this NBA game would be $125. He works part time, cleaning the community centre, for which he earns $20 a week.

How long would it take him to save enough money for a ticket to see the Raptors? Will he always save the $20? Are there other expenses to consider (for example, snacks, movie nights)?

Invite students to make a budget incorporating João's earnings and possible expenses.

Activity 3: STEM Activities


Budgets can also be taught within the context of the learning in other subject areas. For example, suppose students or teams will need to create a budget for a STEM project, such as:

  • The construction of a device to protect an egg using purchased reused or recycled materials.
  • The construction of a structure or bridge requiring the purchase of materials (blocks, spaghetti, etc.).
  • A robotics competition where the winning group creates the most functional robot at the lowest cost.