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Tracking income for an artist family

Updated

Using a case study about a family of artists, students calculate monthly net income and explore how irregular income may make it challenging to manage monthly expenses.

Big idea

Knowing your monthly net income is helpful when creating and managing a budget.

Essential questions

  • How does having a clear picture of monthly net income help you plan ahead and make and follow a budget?
  • What types of challenges does irregular income present to money management?

Objectives

  • Recognize different sources of income 
  • Use a financial tracker to organize income 
  • Begin to understand how monthly net income can vary due to irregular income

What students will do

  • Learn key terms related to income.
  • Use the “Tracking income for an artist family” worksheet to explore a case study looking at the income challenges of artists and to calculate weekly and monthly net income.
  • Explore how net income changes as a result of irregular income.

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Teacher guide

Tracking income for an artist family (guide)

Student materials

Tracking income for an artist family (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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