Fixed and Variable Expenses Over Six Months
Written by Adi Ackerman, Head Teacher
"Fixed and Variable Expenses Over Six Months" is written for 7th Grade (Ages 12-13). A 6th grader who is already steady on Economics and Money can use it too, and an older student can use it as a short review.
2 pages in this set
7th grade social studies worksheet: sort six months of sample expenses into fixed and variable, find averages and graph the totals. Answer key included. Part of our personal finance economics and money collection.
How do I use this worksheet?
Run the budget sheet first, then the ledger and expense sheets. Use the pay stub last, because it connects to taxes and deductions.
What students will practice
- Students will tell fixed expenses from variable expenses.
- Students will find totals and monthly averages from a six month table.
- Students will plot total variable cost and find what percent of costs are fixed.
Curriculum Links
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FAQ
How do I use this personal finance worksheet?
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Run the budget sheet first, then the ledger and expense sheets. Use the pay stub last, because it connects to taxes and deductions.
What does this worksheet teach?
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Sort six months of sample expenses into fixed and variable, find averages and graph the totals. The directions on the page read: Use the sample table to fill in the blank cells. Then plot and connect the points for total variable cost on the grid. An answer key is included.
Can I use this personal finance worksheet for homeschool or classroom?
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Yes, both. We made it for 7th 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.
What is the 50, 30, 20 guideline?
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It is a sample guideline of 50 percent of income for needs, 30 percent for wants and 20 percent for savings. The household budget sheet compares a family's bars to it.
What is a fixed expense?
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A fixed expense stays the same each month, like rent. A variable expense changes from month to month, like groceries.
What is net pay?
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Net pay is what is left of gross pay after deductions such as taxes, Social Security and Medicare.
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Worksheet Details
| Grade | 7th Grade |
| Subject | Social Studies |
| Topic | Economics and Money |
| Pages | 2 pages |
| Difficulty | Medium |
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