Allocating Weekly Allowance

T.I.P.S.

Students must be able describe different options on how to set aside portions of a weekly allowance for spending, saving (including for college), and sharing.

Example

Trey wants to ask his parents for an increase in his weekly allowance. He thinks he is more likely to get it if he can show them a plan for dividing it among priorities they have set for him and his money. How should he allocate his allowance among spending, saving (including for college), and sharing to convince his parents to increase his allowance? 

Hint 

Possible Solution 

TEKS

Supporting Standard  4.10 Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:

(D) describe how to allocate weekly allowance among spending, saving, including for college; and sharing

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