Tracking income for a farming family
Using a case study about a farming family, students calculate weekly and monthly net income and explore the impact of having irregular income.
Knowing your monthly net income is helpful when creating and managing a budget.
- How does having a clear picture of monthly net income help you plan ahead and make and follow a budget?
- How does irregular income affect monthly net income?
- 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 a farming family” worksheet to calculate weekly and monthly net income and to explore how net income changes as a result of irregular income.
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.