Budgeting for Independence

Tailored for Indigenous youth ages 14 to 18, this session covers essential budgeting skills and sets students on a path to forming good financial habits. 

Students will discover the importance of tracking expenses and gain insights into understanding income and cash flow. Attendees will build confidence around understanding their cash flow so they can make informed financial decisions, setting a solid foundation for their future. 

This session can be held virtually or in-person. and typically runs for 60 minutes with a 45-minute presentation followed by 15 minutes of Q&A.

Learning Outcomes

• understand the components of a budget and how to create one that reflects personal goals
• learn effective methods for tracking income and expenses
• understand different types of income, how to read your paystub, and the difference between gross income and net pay
• the importance of setting achievable short and long-term financial goals based on individual needs and aspirations
• understand the impact of money management on future opportunities.

Session Outline

• cash flow and planning
  • the three steps to building a budget
  • fixed and variable expenses
  • tracking your budget
• understanding your income and paystub
  • defining income and its different sources
  • gross income vs. net pay and how to read your paystub
  • deductions
• smart spending
  • the difference between wants and needs
  • making informed spending decisions
• Q&A

Learning Materials

• Budget Worksheet
• Budget Calendar Worksheet