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Categorizing expenses

Updated

Students work with a partner to brainstorm typical household expenses and then categorize those expenses as either fixed or variable.

Big idea

Understanding and managing different types of expenses help you control your cash flow and follow a budget.

Essential questions

  • What are different types of expenses?
  • What are common fixed and variable expenses?

Objectives

  • Understand the differences between fixed and variable expenses
  • Identify examples of fixed and variable expenses

What students will do

  • Work with a partner to brainstorm typical household expenses and record them on the “Categorizing expenses” worksheet.
  • Identify those expenses as fixed or variable.
  • Reflect on how to reduce their own expenses.

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Teacher guide

Categorizing expenses (guide)

Student materials

Categorizing expenses (worksheet)

Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.

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