HTML Preview Project Expense Tracking page number 1.
PROJECT 1: EXPENSE TRACKING
INSTRUCTOR OVERVIEW
It is easy to remember how much money is spent on fixed expenses like rent or car payments.
Variable expenses can be more difficult. Using the worksheet provided (Student Handout 1B),
students will write down all expenses incurred during a 30-day period. They will then categorize the
expenses and total them for the month (Student Handout 1C).
INSTRUCTIONAL OBJECTIVES
The first step in creating a budget is to track expenses. In this assignment, students will:
Identify personal expenses incurred over the course of one month
Determine how they should categorize or group their expenses
Sort and compile expenses into groups
CENTRAL QUESTION OR PROBLEM
How do I spend my money?
ASSIGNMENT RESOURCES
For this assignment, students must use the worksheet (Student Handouts 1B and 1C) provided. They
may not use phone apps, spreadsheets, or other electronic methods.
ASSIGNMENT LENGTH
One month
NOTES
It is important to start this project as early as possible in the semester. Because students track
expenses for one month, I typically assign this at the first class meeting. This allows for a smooth
transition into the budget project later in the semester.
Remind students each class meeting about the assignment. You may also want to do an
expense-tracking assignment check at two weeks to make sure they are on task.
When I first started using this assignment, I let students use bank statements, websites,
spreadsheets, and phone apps to track expenses. I saw a considerable difference in
proficiency between those who used pencil and paper and those who used electronic
methods. I believe the tactile experience of writing expenses down helps students recall how
they are spending their money in a more thoughtful way. I do let them transition to electronic
methods for the budget project. My hope is that, by that point, they are more self-aware and
have a better sense of their spending habits.
I grade assignments at the beginning of class and hand them back. Checking assignments at
the beginning of class eliminates problems with late work and ensures that students aren’t
hastily completing work during class. Anything turned in after we have discussed the
assignment is considered late, including the reflective writing.
When grading, I don’t check the dollar amounts for mathematical accuracy; my focus is on
ensuring that students are comfortable with the process.