Skip to main content
iRubric: Creating a Budget rubric

iRubric: Creating a Budget rubric

find rubric

edit   print   share   Copy to my rubrics   Bookmark   test run   assess...   delete   Do more...
Creating a Budget 
Creating a Budget
Students will be able to set up a real-world budget. They will be able to accurately incorporate income, expenses, and life events They will be able to present effectively describing how they set up their budget and reasons for items included or omitted.
Rubric Code: N2W785C
By teach324
Ready to use
Public Rubric
Subject: Math  
Type: Project  
Grade Levels: K-5, 6-8, 9-12

Powered by iRubric Real World: Creating a Budget
  Not Quite

20 pts

Sort of

22 pts

Good (Proficient)

25 pts

Excellent

30 pts

Budget System

Not Quite

Budget is not realistic. It was missing necessary components for a complete budget.
Sort of

Budget is somewhat realistic, but the expenses were greater than income.
Good (Proficient)

Budget is realistic and expenses were less than or equal to income.
Excellent

Budget is very realistic and expenses were less than or equal to income. Savings was included in the budgeting.
Gross and Net Income

Not Quite

Income is not realistic. Income was not calculated correctly.
Sort of

Income is somewhat realistic, but not all areas were taken into account.

Areas needed:
Taxes - 11%
Insurance - $100
Retirement - $50
Good (Proficient)

Income is realistic and complete in terms all areas were deducted, however the amount found was incorrect.
Excellent

Income is very realistic and complete in terms all areas were deducted and all information is correct.
Life Events

Students will choose housing and a car. Students will calculate savings, needs, and wants.
Not Quite

Assigned life events were not taken into account in the budget.
Sort of

Assigned life events were only slightly taken into account in the budget.

Student is over budget and did not make adjustments to keep within their budget.
Good (Proficient)

Assigned life events were taken into account in the budget and effectively incorporated.

Student is over budget, however adjustments were made to maintain a good budget.
Excellent

Assigned life events were taken into account in the budget and incorporated in a way that is highly effective.
Trip Event

Destination choice
Drive or fly and calculate
2 fun activities
2 souvenirs - calculate plus tax
Not Quite

Assigned trip was not budgeted well and missing numerous parts.

Students were not able to complete their trip.
Sort of

Assigned trip was only slightly budgeted and some aspects are missing.

Student is over budget and did not make adjustments to keep within their budget.

Student was only able to go on the trip and come back.
Good (Proficient)

Assigned trip budgeted and effectively incorporated.

Student is over budget, however adjustments were made to maintain a good budget.

Student was able to stay within budget but was only able to get a few of the items needed.
Excellent

Assigned trip was within budget and incorporated in a way that is highly effective.

Student was able to maximize their budget and get all items on the list.
Forms of Payment

Students must decide how they will pay for the trip - Cash, check, debit card, or credit card.
Not Quite

Student did not choose a form of payment for their trip.
Sort of

A form of payment was chosen but student could not defend why they chose this payment method.
Good (Proficient)

A form of payment was chosen and student was able to give minimal information as to why they chose this method.
Excellent

A form of payment was chosen and student was able to give a clear and concise explanation as to why they chose this form of payment.
Budget Summary Paragraph

Not Quite

Did not summarize information about the budget. Could not explain how their budget was created and adjusted.
Sort of

Summarized the basic information about the budget, but more information is needed to explain how their budget was created and adjusted. Summaries contained all the correct information but little reflection on the budgeting process.
Good (Proficient)

Summarized the information about their budget. Budget was explained. Summary was well thought out and grammatically correct.
Excellent

Summarized the information in a detailed way. Budget was fully explained. Summary was well thought out, grammatically correct, and included insightful information.



Keywords:
  • Budget, expenses, salary



Discuss this rubric




Do more with this rubric:
Preview

Preview

Preview this rubric.
Edit

Edit

Modify this rubric.
Copy

Copy

Make a copy of this rubric and begin editing the copy.

Print

Print

Show a printable version of this rubric.
Categorize

Categorize

Add this rubric to multiple categories.
Bookmark

Bookmark

Bookmark this rubric for future reference.
Assess
Test run

Test run

Test this rubric or perform an ad-hoc assessment.
Grade

Grade

Build a gradebook to assess students.
Collaborate

Collaborate

Apply this rubric to any object and invite others to assess.
Share
Publish

Publish

Link, embed, and showcase your rubrics on your website.
Email

Email

Email this rubric to a friend.
Discuss

Discuss

Discuss this rubric with other members.
 

Do more with rubrics than ever imagined possible.

Only with iRubrictm.


Copyright © 2024 Reazon Systems, Inc.  All rights reserved.
n98