Time needed: 20–30 minutes
Part of financial literacy is learning about expenses: money needed to pay for something. If a person pays monthly for a phone plan or a streaming membership, that’s an expense. Some expenses are essential and help people get by day-to-day, like groceries or rent. Some are investments for the future, such as savings for education or a big purchase. In this financial literacy activity, high school Girl Scouts will look at their Girl Scout Cookie™ business budget expenses and explore ways they can decrease them.
50/30/20 Spending Plan
This is a common way to allocate money to help plan a budget. It might not work for everyone, but you can adjust it to meet your circumstances.
50%: Needs or must-have expenses, such as transportation, groceries, basic clothing, and school supplies.
30%: Flexible expenses or wants, such as dining out, entertainment, and membership services.
20%: For financial goals or emergencies, such as saving for future education, travel, or computer repair.
Fixed and Variable Expenses
Fixed expenses are always the same, such as a car or loan payment.
Variable expenses are things like fuel, food, and entertainment costs that are harder to plan for because the amounts change month-to-month.
Unplanned expenses are ones that may not come up every month and usually come as a surprise, like computer repairs or medical emergencies.
Troop Leaders: The instructions for all badge steps are available free of charge in the Girl Scout Volunteer Toolkit.
Girl Scout Activity Zone activities have been adapted from existing Girl Scout programming.