| Full lesson | Create for a teacher a set of content for giving a lesson, beginning with the lesson plan. Each new block of materials must begin with an H1 heading (other subheaders must be H2, H3, etc). When you describe required pictures, write those descriptions in curly brackets, for example: {A picture of a triangle} |
| Which subject | Business |
| What topic | Budgeting |
| What length (min) | 30 |
| What age group | Year or Grade 8 |
| Class size | 20 |
| What curriculum | |
| Include full script | |
| Check previous homework | |
| Ask some students to presents their homework | |
| Add a physical break | |
| Add group activities | |
| Include homework | |
| Show correct answers | |
| Prepare slide templates | |
| Number of slides | 5 |
| Create fill-in cards for students | |
| Create creative backup tasks for unexpected moments |
Business
Budgeting
Year 8 / Grade 8
30 minutes
20 students
This lesson will adhere to the standards set for financial literacy and personal finance in the U.S. national curriculum for middle school students.
| Step Number | Step Title | Length | Details |
|---|---|---|---|
| 1 | Introduction to Budgeting | 5 mins | Brief overview of what budgeting is and its importance in everyday life. Discuss the goals of budgeting. |
| 2 | Components of a Budget | 5 mins | Introduce various components of a budget: income, expenses, savings. Use examples to illustrate these components. |
| 3 | Distributing Budgeting Cards | 5 mins | Hand out printable budgeting cards to all students. Explain how to fill them out with simple income and expense scenarios. |
| 4 | Budget Creation Activity | 10 mins | Students work independently to fill out their budgeting cards based on the given parameters. Monitor and assist as needed. |
| 5 | Collecting/Random Checking | 3 mins | Randomly collect the completed budgeting cards or check them to ensure participation and understanding. |
| 6 | Conclusion and Discussion | 2 mins | Recap the key points about budgeting. Encourage students to discuss one thing they learned today. |
| 7 | Assignment of Homework | 2 mins | Explain the homework assignment: create a personal budget for the upcoming week based on their allowance or earnings. |
Students will create a personal budget for the upcoming week based on their allowance or earnings. This homework will be collected at the beginning of the next class for assessment without needing students to present it in front of the class.
Students' understanding will be assessed through their completed budgeting cards and the personal budget homework assignment. Feedback will be provided individually with comments on their work.
"Good morning, everyone! Today, we’re going to explore an essential skill that can help you manage your money effectively: budgeting. Can anyone tell me what they think budgeting means? [Pause for responses]
Budgeting is the process of planning how to spend your money wisely. It helps us understand our income and expenses so that we can make informed financial decisions. Throughout today's lesson, we will discuss why budgeting is important in our everyday lives and how it can help us achieve our financial goals. Let’s dive in!"
"Now, let’s talk about the different components of a budget. A budget typically has three main parts: income, expenses, and savings.
Let's consider a quick example: If you earn $10 a week from your allowance, and you spend $4 on snacks and want to save $2 for a game, how does that fit into your budget? [Encourage students to respond and discuss briefly]
It's important to track all these components to see where your money goes. Are there any questions about these components before we move on?"
"Great discussion! Now, I’m going to hand out printable budgeting cards to each of you. These cards will help you practice creating a budget.
[Distribute budgeting cards]
Now, on your budgeting card, you’ll see different income and expense scenarios. Your task is to think about how you would allocate your income across your expenses and savings.
Make sure to fill out your budgeting card with the following details:
You’ll have five minutes to complete this. If you have any questions while filling out your cards, please raise your hand!"
"Okay, time to get to work! You now have ten minutes to complete your budgeting cards based on the scenarios provided. Think carefully about how you're allocating your money.
As you work, I’ll be walking around to assist and check on your progress. Don't hesitate to ask for help if you need it!"
"Time's up! Please put your pens or pencils down. I will collect your budgeting cards now. [Collect cards or walk around to check them]
Your participation is really important, and I want to ensure you all have a solid understanding of budgeting concepts. Thank you!"
"Let’s wrap up our lesson! Today, we learned what budgeting is, the different parts of a budget, and created our own budgeting cards.
Can anyone share one thing they learned today about budgeting? [Encourage a few students to share their thoughts]
Fantastic insights, everyone! Remember, budgeting is a critical skill that will benefit you throughout your life."
"For your homework, you’ll create a personal budget for the upcoming week based on your allowance or earnings.
Make sure to include your income, any expected expenses, and how much you plan to save. This will help reinforce what we've learned today.
Please bring your completed budgets to our next class for assessment. You won’t have to present them in front of the class, but I will provide individual feedback on your work.
Does anyone have any questions about the homework? [Pause for responses]
Great! I look forward to seeing your personal budgets next time. Have a wonderful day!"
| Question | Answer |
|---|---|
| What is budgeting? | |
| What are the three main components of a budget? | |
| Can you provide an example of income? | |
| What are some common expenses people might have in a budget? | |
| Why is it important to save money as part of a budget? | |
| How would you allocate your income if you earned $10 a week? | |
| What details should you include when filling out a budgeting card? | |
| How much time do you have to complete your budgeting cards in class? | |
| What should you do if you have questions while working on your budget? | |
| What will your homework assignment be related to budgeting? | |
| Why is it important to bring your completed budget to the next class? | |
| What kind of feedback will the teacher provide on your homework? |