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Budget Lesson Plan

The document provides a lesson plan for a consumer economics class on budgeting. The objective is for students to learn how to create budgets that balance needs and savings by critiquing sample budgets using a Smartboard. Students will practice making 2-week budgets with $250 net income. Their budgets will be shared and critiqued by the class to identify areas for improvement. The goal is to teach students the importance of budgeting and saving now to develop good financial habits.

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Megan Courtney
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546 views2 pages

Budget Lesson Plan

The document provides a lesson plan for a consumer economics class on budgeting. The objective is for students to learn how to create budgets that balance needs and savings by critiquing sample budgets using a Smartboard. Students will practice making 2-week budgets with $250 net income. Their budgets will be shared and critiqued by the class to identify areas for improvement. The goal is to teach students the importance of budgeting and saving now to develop good financial habits.

Uploaded by

Megan Courtney
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Megan Courtney

Name: Budgeting

Class/Subject: Consumer Economics

Objective: for students to learn how to use their paychecks to create a


budget that incorporates needs and savings by self and group
critiquing by using the Smartboard.

Content Standards:
• Illinois Learning Standard 15.B.4a: Explain the cost and benefits
of making consumer purchase through differing means.
• Illinois Learning Standard 15.B.5a: Analyze the impact of
changes in non-price determinants.

Material/Resources/Technology
• Computer/Projector
• Smart Board
• Power point presentation
• Students’ collection of their weekly budget

Teacher’s Goals:
• To show to students the importance of budgeting now, and
getting into the habit.
• To allow time for students to practice using classroom
technology

Time:
5 minutes Start of Class:
Teacher will ask for students to take out the budgets
that they have been working on. Ask the students how
they spend their money.
2 minutes Introduction to the Lesson:
Teacher explains the ideas of budgeting and why they
are important to start practicing now.
30 minutes Lesson Instructions:
1. Review the difference between gross income and
net income. Which way would the students prefer
to set up their budget?
2. Using their budgets that they have been keeping
track of their spending. Go over the difference
between fixed costs and variable cost. What sorts
of things are fixed in the students spending?
What are variables? What sorts of costs will they
have later in life?
3. Savings. Are the students regularly saving? Why
would they save now? Why should they save
later?
4. Using their recorded budgets, have the students
create a budget for a two-week time span with the
net income of $250.
5. Ask for a couple of volunteers to come up to the
Smartboard and write up their budgets for the
class to see. Then as a class critique the budgets.
Have the students make the appropriate
corrections.
6. Have students reevaluate their own budgets.
7. How can a student better manage their budget?
Have the students examine what their budgets
and see what can be worked out or reduce.

2 minutes Checks for Understanding:


Collect the budgets that the students had created
during the class time to be evaluated and returned to
the students.
5 minutes Closure:
Budgeting and saving is a life long habit that needs to
start sooner rather than later.
N/A Self-Assessment:
Critique the collected budgets so teacher can determine
whether or not the lesson taught by the teacher had
been expressed in the budgets.

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