Budgeting 101 Lesson Plan Information | Lesson Plan Activities | Printable version (including handouts) (PDF)

Standard: Use Math to Solve Problems and Communicate Outcomes Students identify sources of income, distinguish between fixed and flexible expenses, distinguish between needs and wants, and develop a personal budget.

Classroom Information

GED Descriptors:      Math Roles:      Family, Worker, Community Member Program Type(s)      ABE, GED, Family Literacy, Workforce Education, Urban, Rural, Corrections NRS Learner levels (ESOL)      3, 4 Time frame:       2-3 hrs, up to 1 week outside of class

Keywords

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Standard: Use Math to Solve Problems and Communicate

Component of Performance How activity addresses component Understand, interpret, and work with pictures, numbers, and symbolic information. Choose to work with financial values that reflect income and expenses. Apply knowledge of mathematical concepts and procedures to figure out how to answer a question, solve a problem, make a prediction, or carry out a task that has a mathematical dimension Students will be working with various concepts of money and decimal-related addition and subtraction activities. Define and select data to be used in solving the problem Make decisions concerning fixed and flexible expenses, needs and wants from individual financial records. Determine the degree of precision required by the situation Rounding may be necessary when determining amounts for their budgets. Solve problem using appropriate quantitative procedures and verify the results are reasonable Students can use a calculator to solve and check their calculations. Communicate results using a variety of mathematical representations, including graphs, charts, tables, and algebraic models Using a budgeting tool of choice, students will develop and keep a budget for their individual expenses.

Purposeful, Transparent, Building Expertise

Purposeful and Transparent Students are concerned about how they spend their money and want to make wise decisions. Teacher models completing the tools together and then students apply the information to their own situations. Contextual Students are using actual budgeting techniques to improve their financial situations. Additional budgeting resources and copies are available for students to set up their own budgeting system. Building Expertise This will allow students to actually document where their money goes and make adjustments in their spending patterns over time in order to improve their financial savings.

Lesson Designer Judy Franks Ohio Literacy Resource Center (330) 672-0753 jfranks@literacy.kent.edu

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