• Printer Friendly Version
• Send to a Friend
• Add to My ePortfolio

Course, Subject

Grade 12: Economics, the Enterprise System, and Finance, Social Studies, Social Studies

Lesson Objectives

Students will examine and evaluate the cost and feasibility of living their dream lifestyle by completing the "Reality Check" online activity.

Duration

30 to 45 minutes: Activity and brief discussion

Description

The activity allows students to identify how they imagine they will live once they're on their own. They then receive feedback on how much living on their own will cost and what type of job is needed to support it. The results of this quiz can be quite an eye opener!

This lesson is one part of a larger unit, Independent Living. While completing this unit, students will learn about: landlord and tenant rights and responsibilities; deciphering rental and leasing agreements; costs of establishing a first residence; benefits of budgeting; major categories of living expenses; surviving and thriving with roommates.

Consumer Jungle units are designed to be flexible, and can be used as one integrated unit or individual segments. If you are planning to use the unit in its entirety, please see the Related Content field for the additional lessons. The End of Unit Assessment field contains links to the vocabulary, concept, and content quizzes for the unit.

Materials

• Copies of the Reality Check Quiz student worksheet
• Budgeting PowerPoint
• Computers with Internet access

Step-by-Step Procedure

1. Instruct students to access the Jump$tart Reality Check online activity, or if Internet access is not available, distribute the Reality Check Quiz student worksheet.
2. Ask students to complete the quiz based on their first impressions. Tell students that they will receive an overall score that indicates what hourly salary would be required to support their lifestyle choices. In addition, a listing of occupations is provided that would support the salary requirements.
3. Divide students into small groups and ask them to discuss the following:

• Were your lifestyle choices more expensive than you anticipated?
• What alternate choices would have resulted in lower expenses?
• Are any of the occupations or salary ranges suggested compatible with your long-term career goals?

Debrief as a class by summarizing major conclusions and common themes.

Related Content

• A Place to Hang Your Hat
• Budget Basics
• It Costs How Much!?!?
• Surviving or Thriving with Roommates
• TV Roommates
• Rental Agreement Lingo
• Surviving Solo

End of Unit Assessment

Students can take the vocabulary and concept quizzes via pen and paper.

Downloads:

• Independent Living Vocab Quiz
• Independent Living Concept Quiz

Content Provider

Consumer Jungle is dedicated to providing young adults with the life skills they need to become responsible, informed consumers. Consumer Jungle provides engaging and relevant consumer education curricula covering a variety of topics such as credit cards, transportation, living on your own, personal finances, telecommunications, health, and e-commerce fraud. Developed with input from teachers, students, and parents, Consumer Jungle delivers interactive games, activities, and relevant information directly to the home or classroom.

Website(s)

• Consumer Jungle -http://www.consumerjungle.org
• Jump$tart: Financial Smarts for Students - http://www.jumpstart.org/home.html

Related Academic Standards

New York State

HPF.FC.C.2.1.C Students understand essential requirements for selecting and maintaining a home.

HPF.FC.C.3.1.A Students analyze a wide range of factors related to managing personal resources to balance obligations to work, family, and self.

HPF.FC.C.3.1.B Students understand the basics of an individual/family budget and plan to obtain, use, and protect money and assets.

SS.C.4.1B Students define and apply basic economic concepts such as scarcity, supply/demand, opportunity costs, production, resources, money and banking, economic growth, markets, costs, competition, and world economic systems.