VACATION OF A LIFETIME
PERSONAL FINANCE
BUDGETING ASSESSMENT
Get ready to plan a well-deserved vacation! It is time to make those vacation dreams come true – at least the planning stages. In the next several days, you will be researching and recording information about what it takes to get from here to your chosen destination and back.
You will have a budget of $1,500 for each person (max. 2)
This amount must pay for transportation (both ways), sightseeing, souvenir shopping, lodging, meals, and all other expenses you may incur on your trip. It is your job to plan a GREAT vacation within your budget. Don’t “skimp” if you really wouldn’t make those choices. Be realistic (for most people, staying in your hotel and eating only fast food isn’t part of a dream vacation).
You may NOT choose a vacation package that includes everything all together. You must do research on each category such as transportation, lodging, etc.
Record all of your research on the packet provided. When completely finished with your research, you should begin to develop a presentation about your vacation following the guidelines in your packet.
In addition, you will need to complete and initial spending plan worksheet. Your income ($1,500) must match your expenses. You may not overspend. If you underspend, be sure to place the money into a savings account.
Finally, you will complete the following:
- Construct a budget
- List all expenses
- Identify each expense as fixed or variable
- Categorize all expenses
- Calculate the percentage of income you spent in each category
- Create a pie chart to illustrate your expenditures
- How does your spending plan compare to the suggested typical spending plan allocations presented in class.
Submit your completed Student Workbook Pages to receive credit
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