Republic of the Philippines

Department of Education
REGION IX, ZAMBOANGA PENINSULA
SCHOOLS DIVISION OF ZAMBOANGA CITY
PILAR COLLEGE OF ZAMBOANGA CITY, INC.

Name of the Teacher: Date of Teaching:

Grade/Section: Grade 10

Lesson Plan in Accounting 10

(The Basic Concepts of Budgeting)

I. Objectives

At the end of a 1-hour period, the Grade 10 students are expected to do the following with at
least 75% level of accuracy:

a. define what is budgeting according to Ganti:

b. identify the importance and 7 basic steps in budgeting through a class discussion; and
c. create a budget plan as a group that shows the 7 basic steps in budgeting being used.

II. Subject Matter

 Topic: The Basic Concept of Budgeting

 Reference: https://www.mymoneycoach.ca/budgeting/7-easy-steps-create-budget-tips
https://www.investopedia.com/terms/b/budget.asp
 Materials: Power point Presentation

III. Procedure

A. Preparatory Activities

Good morning, class!

 Morning Prayer
 Checking of possible trashes around their area
 Checking of Attendance

Before we start our new lesson for today, I want you to observe the following class rules. For us
to be able to have a conducive learning, what do we need to do for us to able to achieve out this?

1. Avoid making anything that might disrupt the class

2. If you want to answer, raise your right hand only.
3. No phones allowed during the class discussion
4. Always be on your best behavior.

Very good, now that you have stated the following class rules, I hope you will also follow them
as we dive into our lesson for today. Are we clear? Excellent!
 Republic of the Philippines
Department of Education
REGION IX, ZAMBOANGA PENINSULA
SCHOOLS DIVISION OF ZAMBOANGA CITY
PILAR COLLEGE OF ZAMBOANGA CITY, INC.

1. Motivation

Alright class, before we begin, I have one question in my mind. With the current situation in
inflation that we are experiencing today, how do you decide on where to spend your money on
buying things?

B. Activity (Word Cloud)

Many of you have great ideas on how well you can spend your money in time where inflation
is rampant. Now, that you were able to state some of your ways on how you spend your money, I
have here flash in our screen a word, this time all you have to do is think of a word that can
describe the word that is on our screen. I’ll give you 1 minute to think of a word that connects to
our word the day and after that I’ll be calling random students to give their answers. Understood?
Very Good! Now let us start.

SAVINGS

C. Analysis

Thank you for giving some of the words that you think is close or related enough to our word
of the day. Let us see some of the words that you were able to give and let’s try to answer some
questions. Are you ready?

Based from the activity:

1. What are some of the words that were given by your classmates?
2. In your own words, what do you think savings means?
3. Who among you here were able to try and save money?
4. Why do you think it is important for us to save money?
5. How do you will this simple gesture help you become a better citizen?

Very good! The things that were mentioned by your classmates are part of our new lesson for
today, saving money is an important thing know as a citizen for us to be able to determine the
important things we need to buy or have especially now that we are facing a large increase in
inflation. For us to be able to save money just like what your classmate said earlier we need to
know how to budget things. We will talk more about this topic; I want you to listen carefully and
take notes during our class discussion. Understood? Okay, very good!
 Republic of the Philippines
Department of Education
REGION IX, ZAMBOANGA PENINSULA
SCHOOLS DIVISION OF ZAMBOANGA CITY
PILAR COLLEGE OF ZAMBOANGA CITY, INC.

D. Abstraction

BUDGETING

According to Ganti, budgeting involves planning how you will use your money. This plan
helps you see if you will have enough money for your needs and wants. It is like about balancing
what you spend with what you can earn or given allowance by your parents. If you spend more
than you earn, it can lead to financial crisis or problems and Debt overtime. Through Budgeting,
you can prioritize your spending and focus on what matters most to you when money is tight.

FORMULA OF BUDGETING:

The formula for budgeting can be summarized as:

 Income/ Allowance – Expenses = Saving
 Income- This is the total amount of money you earn regularly, whether it’s from your job,
investments or other resources.
 Allowances- In simplest term, it is provided or given by your parents or guardians
 Expenses- These are the costs you incur/ spend/ used regularly, such as food and
transportation expenses or other necessary expenditures.
 Savings- This is what remains after subtracting your expenses from your income/Allowance.
It shows the amount you can set aside as/for savings, investments or other financial goals.

THE IMPORTANCE OF BUDGETING

Now Class, why do you believe that budgeting holds significance into your daily basis?

Excellent!

Budgeting is not just about managing money or resources; it’s about understanding and
practicing the ability to control your finances effectively, ensuring that every peso you earn or
allowance have, is/are allocated purposefully toward your needs, wants and other expenditures.
Moreover, Budgeting isn’t just a short-term fix; it’s a lifelong skill. With this skill, you can make
financial decisions better.

7 EASY STEPS TO CREATE YOUR BUDGET

Step 1: Set your Realistic Goals

Goals for your money will help you make smart spending choices or decisions. Ask yourself:
What do I want my allowance to look like in one week?

Step 2: Identify your Income/ Allowances and Expenses

You probably know how much you earn each month or the allowance you have in a day/week-
but do you also know where it all goes? Find out by tracking what you are spending.

Step 3: Separate Needs and Wants

 Republic of the Philippines
Department of Education
REGION IX, ZAMBOANGA PENINSULA
SCHOOLS DIVISION OF ZAMBOANGA CITY
PILAR COLLEGE OF ZAMBOANGA CITY, INC.

Ask yourself: Do I want this or do I need it? Will spending this money get me closer to my
financial goals or further away? Can I live without it? Set clear priorities for yourself and the
decisions become easier to make

Step 4: Design Your Budget

Make sure that you are not spending more than you make. Balance your budget to accommodate
everything you need to pay for.

Step 5: Put your Plan into Action

Match your spending to when you receive your income/Allowance. Decide ahead of time what
you’ll use each pay cheque or Allowance for. Ask yourself: Have I allocated money for my
necessities (housing, food, utilities, transportation, etc.)?

Step 6: Seasonal Expenses

You know that things will “just come up” – school expenses, new shoes or an annual
membership. Set money aside to pay for these expenses so you can afford them without going
into debt.

Step 7: Look Ahead

Getting on track with a budget can take a month or weeks. You must give yourself time to adjust.
Don’t be afraid to ask for help if things aren’t falling into place.

That’s it, we are done discussing the Concepts of Needs and Wants, Budgeting and the 7 steps to
create a budget.
Is Everything Clear?

Impressive! Now, let’s apply what you have learned from our discussion.

E. Application “Budget Me Softly”

We are almost at the end of our lesson for today but before we end, I prepared a simple
activity called “Budget Me Softly”. In this activity you will be grouped into 5groups, each group
will be given 5000 pesos for them to buy a 3-course meal for the full day. Each group will have
to come up with a budget plan using the 7 basics steps in budgeting, the groups will be given 15
minutes to finish their respective budget plan and each group will present their plan in a 1–2-
minute presentation. The group who managed to budget the given money well will have 30
points and will win as the budget master. Any questions? Okay, your 15 minutes starts now!
 Republic of the Philippines
Department of Education
REGION IX, ZAMBOANGA PENINSULA
SCHOOLS DIVISION OF ZAMBOANGA CITY
PILAR COLLEGE OF ZAMBOANGA CITY, INC.

F. Evaluation (Essay)

Direction: Answer the following questions below.

1. Why do you think it is important for students to know how to budget their money well?

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2. As a grade 10 student how can you promote the practice of budgeting to your fellow students?

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