Creator: Payscale, Inc. | visit site
Grade Range: 6 - 11
Try this excellent tool when teaching budgeting, comparing salaries and cost of living in different areas, and money management. Enter two locations and a salary and occupation. Graphs show the difference between cost of groceries, housing, utilities, transportation, and health care in the two places. A comparison shows how much salary you would need to maintain the present standard of living in the other location. You can also compare the cost of living to other major cities.
In the Classroom
Use this tool to determine how far a dollar goes in various locations. Allow students the opportunity to play with a standard salary and occupation to look at the differences in costs of living. Report on trends for cities in different areas of the country. Create a list locally of the various items that would be found in each category and the salary for that occupation where you live. Create a budget that allows for savings and vacation or large purchases. Use the data for practice with graphing and creating infographics. In government classes, use this tool and census data to make hypotheses or draw conclusions about patterns of population movement and economic trends in various areas of the country, especially in connection with political trends and election data.
At Home
Have a student looking to strike out on their own? Compare the salaries needed in order to make ends meet in various areas around the country.
Tags
Subjects
Economics, Family and Consumer Science, Geography (US/World), Government/Civics: U.S, Math, Social Studies, Social Studies,