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Tracking income for a farming family

Updated

Using a case study about a farming family, students calculate weekly and monthly net income and explore how irregular income may make it challenging to manage monthly expenses. This activity includes strategies to support English language learners.

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 a farming family” worksheet to explore a case study looking at the income challenges of farmers and restaurant workers and to calculate weekly and monthly net income.
  • Explore how net income changes as a result of irregular income.

Download activity

Teacher guide

Tracking income for a farming family (guide)

Student materials

Tracking income for a farming 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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