With that knowledge, my students were told that they would become financial planners for a holiday character. I only allowed one student to become the financial planner for Santa Claus and we brainstormed a list of other holiday characters that would need financial planning as well. The list of holiday characters we brainstormed is included with the product.
After they determined who their first client would be, they were assigned to develop a financial plan for their client which included determining their gross and net income by creating deductions on their paycheck. We had to be creative on the gross salary; for example, Rudolph might make $30,000 a year as head reindeer, but once we created the gross salary; we were able to begin calculating the monthly net income from there.
The students were also asked to create a budget for their client that included their fixed and variable expenses that they might incur. Last, I asked them to create an investment plan for their client's future. Once they had planned and calculated all the numbers, they placed their data on poster board, added a decorative touch and prepared to present their plan to their client (or the class for that matter.)
This lesson is available free in my store for a limited time, I've included the link below:
Example of a Financial Plan for Santa Claus that one of my students completed: