Income, Expenses, and Savings: What's the Difference?

Break into the basics of budgeting in this worksheet! Students will read brief definitions of income, expenses, and savings. They will use these definitions to decide which of the three each of 10 scenarios describes. Then, they will evaluate a specific budgeting plan in more detail and determine if it will be effective. 

This worksheet for middle schoolers is a great choice for teaching students real-life skills through relatable scenarios. Students can gain a stronger understanding of the basic concepts involved in budgeting, allowing them to make smart spending choices in real life and preparing them to learn about more complex economic topics. 

To learn more about economic concepts, try Identifying Types of Taxes, Examine a Personal Budget, and Shortage, Surplus, and Prices.