[Natfinwellness] Interactive Budget Workshops

[Pellegrini, Andrea]

We do this with the bean game: https://extension.usu.edu/utah/files/uploads/Finance/THE%20BEAN%20GAME.pdf
Then we take beans away to explain how shifting priorities can be difficult and having emergency savings can help. For the freshman that find it easy to rearrange their beans, we talk about the fact that not everyone will have access to friends or family to help them or that habits are much harder to break than just moving around beans.

We also talk about SMART goals as the building blocks for your budget, and that needs & wants are more fluid than most people realize because different people have different priorities & values, which can shift throughout our lives.

Hope that helps, Jordee!
Andrea

From: Natfinwellness <natfinwellness-bounces+apelleg3=uillinois.edu at lists.osu.edu<mailto:natfinwellness-bounces+apelleg3=uillinois.edu at lists.osu.edu>> on behalf of Jodi Kaus <jkaus at ksu.edu<mailto:jkaus at ksu.edu>>
Reply-To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Date: Wednesday, October 26, 2016 at 3:00 PM
To: National Financial Wellness Listserv <natfinwellness at lists.osu.edu<mailto:natfinwellness at lists.osu.edu>>
Subject: Re: [Natfinwellness] Interactive Budget Workshops

We have had the students divide into groups and then we give each group slips of paper representing monthly expenses totaling $900 (rent $400, food $150, gas $75, latte $80, etc.) and a total budget income of $700. The group must decide what are their needs and what are the wants they have money left for, then share why they made the decisions they did with the class.

Sent from Jodi Kaus
Powercat Financial Counseling

On Oct 26, 2016, at 3:44 PM, Jordee R Justice <jordeejustice at siu.edu<mailto:jordeejustice at siu.edu>> wrote:

Good Afternoon All,

I am working on creating an interactive workshop revolving around budgeting for my students. Does anyone have some thoughts on different things that have been successful at your School?

Thank you!
Jordee



JORDEE JUSTICE
Financial Literacy Coordinator

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