November Activity – LET’S BUDGET

  1. Students will be able to comprehend the relationship between source of income and expenditures. 
  2. Students will be able to identify components of budgeting while creating budget for their family.  

  1. Students will be able to describe the components of creating budget for their family in their own words. 

  • Skills - Active listening, and logical thinking. 
  • Values: Responsibility, Saving 

S. No.  Session Details  Estimated Time Required 
1  Step 1: Instructions (8-10 mins) 

Step 2: Activity (As HW in Diwali Break) 

Step 3: Debrief (8-10 mins) 

20 Minutes  

Pen and paper 

Step 1: Instructions  

Time: 8-10 minutes  

Teacher will give instructions to do this activity during the Diwali Break at home. 

1. Ask the students to look into the source of their family income, how many of them are earning and spending in a month? Estimate how much you think your family spends in a month. Make a note of it.  

Earning Members in Family  Estimated Income  Estimated Spends of entire Family 
Member 1       



Member 2    

2. Tell students to observe and list down how much their parents/family spend daily for a week and discuss with them about other expenses family has, list down everyday expenses.  Think which expenses are essential. (The family cannot do without these) Also, observe which were the expenses that are not essential but bring comfort and are important.

3. Next task is to prepare to create an ideal budget for family as per them keeping in mind the source of the family income, needs and wants. Represent it in form of a table.  Show this table to their parents and take their views.  

Sample Table

Monthly Budget 


 Month of: ______________                                              Income: _________________

Figure out the monthly cost of things you need. (basic needs) 

List down the monthly cost of things you want. 

1. Bills/Expense - Needs  Estimated spends for month in Rs. 
Eg. Food    
1. Bills/Expense - Wants    
Eg. Going out to eat   

Note: Teacher can also ask students to compare the estimated spends, actual spends and budget estimates (optional)

Debrief (After the HW is done) 

Estimated Time: 5-8 mins   

Ask students the following questions to debrief the activity:  

  1. What did you learn from the activity?  
  2. What is the relationship between income and expense?  
  3. Why is it important to keep track of your expenses?  
  4. How was the experience of creating a budget for your family? Why is it important? 
  5. How do you think the Local government make budget?

Reflection Sheets, Activity Report & Feedback Form  

Teachers kindly fill in the feedback form, remind office bearers to fill activity report and remind students also to fill up the reflection sheets. 

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