Some day in the future, you will want a place of your own. Moving out is exciting and risky. Consider whether you would rather rent or buy a home. Read the Movin' on Out passage on page 4 in the Are You Ready For the Real World Newspaper in Education supplement attached below. Now, search the newspaper for five possible places to live. List your priorities for amount of living space, price, and location. Which of the locations best suits your needs and fits your budget?
What if you want to buy a home in the future? When you are established in your career, buying a home is considered an investment. What things should you consider when trying to decide between buying and renting? How would your budget change if you were to purchase a home? Use some of the Practical Money Skills Buying a Home Calculators to plan for the future.
SS.8.FL.2.5 Discuss the fact that people may revise their budget based on unplanned expenses and changes in income.
SS.912.FL.2.5 Discuss ways people incur costs and realize benefits when searching for information related to their purchases of goods and services and describe how the amount of information people should gather depends on the benefits and costs of the information.
Created by Deborah Kozdras and Brittany Sampson