A High School Economics Guide

Supplementary resources for high school students

Definitions and Basics

Making a Budget, at SocialStudiesforKids.com.

One thing that every good money manager does is make a budget.

What is a budget? It’s a means of keeping track of exactly how much money is coming in and exactly how much money is going out. If you own a company or you get an allowance, you want to know how much money you have at any given time. You don’t want to run out of money, so you won’t have any when you really need it. You also don’t want to assume that you don’t have any money when you really do have more than enough to pay for something….

In the News and Examples

Megan McArdle on Debt and Self-Restraint. EconTalk podcast episode, December 2009.

Megan McArdle, who writes the blog Asymmetrical Information at The Atlantic, talks with EconTalk host Russ Roberts about debt and the challenge of self-restraint. She discusses her recent Atlantic article on her experience at a Dave Ramsey personal finance seminar, how it affected her life, and the psychology of self-restraint. The conversation concludes with a discussion of debt and savings during the Great Depression and the current national debt of the United States.

Budget Worksheet, at About.com.

A personal or household budget is an itemized list of expected income and expenses that helps you to plan for how your money will be spent or saved as well as track your actual spending habits. Though the word budget has taken on a more negative connotation over the years invoking an image of pinching pennies or limited spending, a budget is really just a tool—and a great tool at that—to gain better and more accurate insight into your spending habits….

A Little History: Primary Sources and References

Advanced Resources

Related Topics

Credit

Compound Interest

Saving and Investing

Inflation

Money

Budget Deficits and Public Debt