Creating a Budget: Class Work Time Name: Subject: Semester: Todd McLauchlin Personal Finance 30 Winter 2014 Date:

Grade: Lesson Length: TBD 12 60 min

Content Identification: The last two classes have been filled with assignments and planning for the semester project. In this period, the students will have time to work on those projects. The students will begin researching their future selves and deciding on what to include in their household budget. I will ask that all students focus on the household budget portion of the assignment, as they will be provided time for the individual portion of the assignment in the next period. This period will provide me the opportunity to check in with each pair, as they begin their assignment. Outcomes (Objectives): Indicators (Assessment): a. Describe budgeting and explain how it relates PF(L) 5-Demonstrate understanding of personal to financial problem solving and financial budgets and their importance for financial responsibility. planning. d. Explain considerations that must be made when developing a budget, e.g., income, prioritizing, recurring and unexpected expenses and use them to help prioritize personal and financial goals. e. Monitor spending behaviours and income streams( monthly or quarterly) f. Create, modify and maintain a personal budget for earning, spending, saving and investing.

The students will be able to create a household budget, which they will co-create with a partner. The students will be able to critically examine the elements that effect the future financial conditions based on current choices, such as education, employment, saving, investing, spending, purchasing, etc. The students will be able to express how they adapted their future budget, based on new content gained from the course. The students will be developing goals for their future selves, based on the financial data created in the budgets.

Common Essential Learnings: Personal and Social Values and Skills, Numeracy Critical and Creative Thinking

Cross-Curricular Competencies: Developing Identity and Interdependence, Developing Thinking, Developing Literacies Prerequisite Learning: An understanding of budgets, budgeting terminology and layout, need vs. wants and long-term and short-term goal will be required for this lesson. Equipment/Materials: The Creating a Budget: Household Budget assignment and rubric, Google Drive access, and internet/computer will all be required. Set: (2 min) 1) There is no set to speak of, the students will be asked to open the assignment from the previous class and begin working on the project. Development: (55 min) 1) The entire period will be devoted to the students working on the project. This will allow me time to work one-on-one with the pairs and present them with information and guidance that is relevant to the individual situations. I will ensure I check in with each pair throughout the period. Closure: (3 min) 1) I will close by explaining that we will have time to work on the individual portion of the budget next period, then in the following period we will take an overview look at some of the elements of personal finance, and how they relate to budgeting. Finally, in the period after that, I will provide one more work class, before we begin the second unit, which will be on financial institutions and credit.