In this challenge, students learn about essential and discretionary spending, and managing expenses while earning an inconsistent income.
Have you ever wanted to save up for something big, and had trouble sticking to a plan of putting aside the money? Do you find that things pop up and ruin your plans of saving regularly, and it’s hard to keep track of your spending?
In this challenge, you will follow Alex, who is trying to build up some savings. Alex is faced with a bunch of challenges, such as expenses that pop up every now and then — And it’s difficult for them to properly organise where their money goes.
In order to save properly and reach their goal, Alex will need to:
Take better notice of the money that comes in each month, in particular the maximum and minimum that they seem to make.
Understand what the expenses are that they have to pay and recognise the difference between essential spending and discretionary spending.
Make some changes to her spending habits, like cutting back on things they don’t need, and changing some of their behaviour.
IS THIS A FREE EVENT? Yes
BROUGHT TO YOU BY: Financial Literacy Challenge