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Title – Learning How to Budget
By – Melissa Gregory
Primary Subject – Social Studies (Economics & Business)
Secondary Subjects – Computers / Internet
Grade Level – 4-8
Content Standards:
Ohio Social Studies–Economics-Personal Finance-Academic Content Standards, 2008
Ohio Mathematics Academic Content Standards, 2008
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Number, Number Sense and Operations Standard
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Data Analysis and Probability Standard
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Patterns, Functions and Algebra Standard
ISTE Technology Standards, 2007
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Standard #1 – Creativity and innovation
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Standard #4 – Critical Thinking, Problem Solving, and Decision Making
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Standard #6 – Technology Operations and Concepts
Objective:
For this assignment, my goal is for students to prepare a budget that works. They will figure out income and expenses and what they can or cannot afford. Our economy is in bad shape and it is my belief that students should learn at an early age how to budget and make wise choices with their money. This project will challenge students to work within a budget and find out information on budgeting and expenses. Each student will need to research and present information on expenses and budgeting within a group. This project will take approximately twenty class periods.
Procedure:
For this project, each student will be placed into a group and each group will be given a job and an income.
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With this information students will need to figure out how much money they will make in a week, month, and year.
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Each group will be given a list of fifteen cars to choose from and will need to do research about car payments and insurance. Students will also need to do the same with houses that are for sale in the local area.
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The groups will also work together and do research and interview other adults to find out what other expenses are common to our local area.
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Each group will put the numbers and information they found onto a spreadsheet.
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Each group will be required to present their information through a PowerPoint presentation.
Students will use the internet and conduct interviews to gather information on car payments, mortgages, and other expenses.
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During the group project, students will need to work collaboratively to gather, compile, and present their information.
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Each group will be required to use a spreadsheet to organize the information about cars, mortgages, and other expenses.
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Each group will also need to figure out for themselves what expenses they want to use or the ones they can and cannot afford and present that information showing where every penny of their income is spent.
For the final project students will need to present to the class a budget that works.
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Students will need to turn in a spreadsheet with all of the information about their income and expenses.
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Each group will have to state how much money they make in a week, month, and year, and show how they came up with their number.
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They will also need to show how much money would be earned if they worked 15 hours of overtime in a given week.
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Each group will need to include a car payment, mortgage, car insurance, and at least six other expenses in their spreadsheet.
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Individuals will also be required to turn in a one-to-two page typed paper stating what they learned about budgets and expenses.
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Students will present the basic information to the class using a PowerPoint presentation with at least four slides, including one graph chart showing the percentages of expenses.
References:
E-Mail
Melissa Gregory
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