A Homestead Family's First Year Budget

Work the first ledger week together. Discuss which numbers are sample data and which facts come from the reading.

Sort sample homestead costs as start up or yearly and graph a family's first year budget. The directions on the page read: Read the text. Label each sample cost start-up (paid once to begin) or yearly (paid every year). Then find each cost's percent of the total. An answer key is included.

Yes, both. We made it for 8th grade Economics and Money, and it works the same at home or at school. At home, a student can work through it alone and then go over it with you, which shows quickly what is solid and what needs another look. In class it works as independent practice, homework or a warm-up, and you can print one copy or a full set.

Savings rate is savings deposits divided by total income. Students find it to the nearest percent from the Lynn family's four week ledger.

The land cost about $18 in fees, but a family also needed animals, a plow, seed and food until the first harvest. Students sort these sample costs and graph the budget.

A fixed cost stays the same no matter how much is grown. A variable cost changes with how much is planted or harvested. Students label sharecropping costs this way.