Creating a Family/ Personal Budget: Dollars & Sense!Spreadsheet Lesson Plan

ETECH 5303

Your Name:Beashua Spearman

Lesson Title: Creating a Family/ Personal Budget: Dollars & Sense!

Introduction: It is rather difficult to manage one's expenses after a severe loss within his or her main

income. This lesson will include real world reading, math, and technology skills you all will use in your monthly financial planning. The focus of this lesson is to teach you practical understanding of budgeting and differentiate between the “I want it” and “I need it” columns. For example, the “I want it” column will list items such as entertainment (e.g. movies, dinner, and miniature golf) and its cost. The “I need it” column will list items such as rent/lease or mortgage payment, utilities, transportation, and clothing. Our goal in this lesson is to spend less than what we earn, make better financial decisions, and deposit any money left into a savings account.

Grade or Age Level of Student(s): GED Intermediate Basic Education- Educational functional level (EFL):Low intermediate basic

education 9.0-12.0 ESL Book 4-(Advanced Reading Course): Educational functional level (EFL):High Advanced ESL

8.0-12.0

Objectives: Students will be able to define the following key terms: budget, expenses, income, wants, needs,

unexpected expenses, fixed income, and debt Students will be able to plan a working budget Students will receive knowledge to develop a budget to use in their family/personal life Students will create a budget using spreadsheets Students will distinguish between wants and needs Students will categorize wants into a list Students will categorize needs into a list Because of this exercise, students will understand their income, expenses, and plan a realistic

budget.

Standards Addressed:

I. Grades 9-12: English Language Arts Curriculum Framework

Standard : Reading/ Standard 10: Variety of Text Students shall read, examine, and respond to a wide range of texts for a variety of purposes. Practical and other informational texts

R.10.9.2 , R.10.10.2 , R.10.11.2, R.10.12.2 -Interpret and use information in maps, charts, graphs, time lines, tables, and diagrams, Identify interrelationships between and among ideas and concepts within a text, Identify and compare information from multiple source, Draw conclusions based on evidence from texts, Analyze the ways in which a text’s organizational structure supports or confounds its meaning or purpose

Recognize the use or abuse of ambiguity, contradiction, paradox, irony, incongruities, overstatement and understatement in text and explain their effect on the reader

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Creating a Family/ Personal Budget: Dollars & Sense!Spreadsheet Lesson Plan

ETECH 5303 Evaluate information and technical texts for their clarity, simplicity, and coherence and for the

appropriateness of their graphics and visual appeal

II. Arkansas Library Media Frameworks 1. Application : Organize- Students shall apply critical thinking skills and organize information to

obtain knowledge. Utilize-Students shall apply information and use resources to fulfill a purpose. 2. Connection: Students shall make connections to the academic environment and the

real world. Associate- Students shall make connections to the academic environment and the real world.

II.III. ISTE NETS-S+ Standards:

1. Research and Information Fluency : Students apply digital tools to gather, evaluate, and use information.

Locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media Evaluate and select information sources and digital tools based on the

appropriateness to specific tasks Process data and report results

2. Critical Thinking, Problem Solving, and Decision Making: Students use critical thinking skills to plan and conduct research, manage projects, solve problems, and make informed decisions using appropriate digital tools and resources.3. Creativity and Innovation: Students demonstrate creative thinking, construct

knowledge, and develop innovative products and processes using technology. Identify and define authentic problems and significant questions for investigation Collect and analyze data to identify solutions and/or make informed decisions Use multiple processes and diverse perspectives to explore alternative solutions

Timeline: 1 Class session: 1 hour & 20 minutes

Materials: 1. Book: Steck-Vaughn Life Skills for Today’s World: Money & Consumers textbook

by Vivian Bernstein, Chapter 4, pages 36-44.2. Tutorial Website: http://www.gcflearnfree.org/everydaylife/paybills

3. Video Websites: Budgeting 101: http://www.youtube.com/watch?v=BoSJ2xvy3nY4. Video Website: Tracking your Spending: http://www.youtube.com/watch?v=K0cITzKS7Tg5. Class Handouts: The making a budget lecture is an actual handout from the

Cascade EAP Association it lists valuable information that can be read by the students and explained by the instructor.

The Weekly Paycheck stub handout was created to allow students to use real life skills in using the net pay from the paycheck stub to simulate an income for all of the assignment worksheets.

The Handout 2 Needs & Wants Sample Workbook Sample is the completed example of what the students Needs and Wants spreadsheets within assignment 1 will mirror.

6. Class Assignment Worksheets: The Assignment 1 Needs & Wants Worksheet completed (Answer Key) is the

completed class guided practice worksheet with the answers for the instructor. The Assignment 1 Needs & Wants Worksheet without answers example is the

example for the students to know what the completed excel spreadsheet inside of the worksheet should reveal.

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Creating a Family/ Personal Budget: Dollars & Sense!Spreadsheet Lesson Plan

ETECH 5303 The Assignment 1 Needs & Wants Worksheet is the worksheet created for the

students within the classroom. The Assignment 2 Class Guided Practice Budgeting Practice is a worksheet

created for the instructor to use while teaching the lesson. This worksheet serves as a guided practice to ensure students understand some of the lesson’s vocabulary.

The Assignment 3 (Assessment): Monthly Budgeting: Monthly Expenses & Weekly Savings worksheet was created to teach students how bills are paid, the formula of paying monthly bills, and what a person will need to save per week to pay the bill.

7. Attachments : The attachments of the assignment worksheets, examples, and the handouts for this lesson are below. Please print one copy of each assignment worksheets, examples, and the handouts and then make one copy per student in the copying room.

Making a Budget Lecture Creating a Family/ Personal Budget: Dollars & Sense! PowerPoint Presentation Assignment 1: Needs & Wants Assignment Worksheet Assignment 1: Needs and Wants Workbook Example Assignment 2 Class Guided Practice Budgeting Practice Weekly Paycheck Stub Handout 1 Independent Practice Assignment- In-Class Assignment 3: Monthly Budgeting: Monthly Expenses & Weekly Savings Homework: Budget Worksheet Example Homework Instructions Homework: Budget Worksheet

Grouping Strategies: The Technology center serves as a computer lab for student practice, lab, and closed classes. There are 38 computers in the computer lab and 21 students in the ESL Book 4 Advanced Reading course. Each student will have the ability to use one workstation per student. The instructor will create an appointed time with the technology center’s certified lab instructor.

Learning Activities: 1. Step one: Introduction and Lecture

Students will learn how to create a budget using a spreadsheet; this class will use the Microsoft Excel 2007 or 2010 spreadsheet software. The spreadsheet is used to indicate the finances in a family, how those finances of needs and wants are used, and the savings after the expenses and the income are budgeted. Prior to this lesson, the students previously learned how to create a Microsoft Excel spreadsheet, create and operate functions, and navigate Microsoft Excel. The instructor will use the Creating a Family/Personal Budget: Dollars & Sense Lecture PowerPoint as a visual aide and the Lecture Notes as a reference. The students will receive a copy of the Making a Budget Lecture notes to use as a reference for their in-class and out of Budget class assignments.

2. Step two: Introduce them to Needs & WantsThis week, students are learning how to create a personal/family budget using this software, GCF Learn Free money tutorials, and calculating the monthly budget needs and wants. In addition, students will learn how to differentiate the key terms needs and wants and calculate the needs and wants to learn how much to save to pay their bills. The students will create a chart with their completed data to create a visual aide to help them understand budgeting.

3. Step three: Learning Activities 1 & 2The following learning activities are included in this lesson:

The Assignment 1 Needs & Wants Worksheet completed (Answer Key) is the

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Creating a Family/ Personal Budget: Dollars & Sense!Spreadsheet Lesson Plan

ETECH 5303completed class guided practice worksheet with the answers for the instructor.

The Assignment 1 Needs & Wants Worksheet without answers example is the example for the students to know what the completed excel spreadsheet inside of the worksheet should reveal.

The Assignment 1 Needs & Wants Worksheet is the worksheet created for the students within the classroom.

4. Step four: Class Guided PracticeThe Assignment 2 Class Guided Practice Budgeting Practice is a worksheet created for the instructor to use while teaching the lesson. This worksheet serves as a guided practice to ensure students understand some of the lesson’s vocabulary.

5. Step five: Assessment The Assignment 3 (Assessment): Monthly Budgeting: Monthly Expenses & Weekly Savings worksheet was created to teach students how bills are paid, the formula of paying monthly bills, and what a person will need to save per week to pay the bill.The Assignment 3 (Assessment): Monthly Budgeting: Monthly Expenses & Weekly Savings worksheet was created to teach students how bills are paid, the formula of paying monthly bills, and what a person will need to save per week to pay the bill.

Step 6: Finalize lesson & Homework Assignments

The final activities are the GCF Learn Free Assignment and the Budget Worksheet Assignment. The student has assigned homework, the students will visit the http://www.gcflearnfree.org/everydaylife/paybills website and they will follow the prompt on the interactive pay bills activity. This activity will test the student’s scanning skills, instruct them to open bills, locate specific information, and practice finding important things such as account numbers, current charges, and more. The student’s assignment is to write down the specific information you were asked to locate in the Pay Bills game. Answer this question: Why is it important to read your bills and how does paying bills relate to budgeting?

The student will complete the Budget Worksheet as additional homework; they will create a chart to indicate the needs, wants, and unexpected expenses. Upon completion, they will email it to their instructor as an attachment with the subject line of Budget Assignment, the student’s first and last name. The email is sent to bspearman000@gmail.com

Diversity:

Ensure the classroom is open, and free of any obstacles a student with a physical disability may find distracting or stressful Ensure the classroom has bright lightening for students to view the assignments without straining their eyes. Allow students to record the lesson with audio or visual devicesInclude a sign-language interpreter, Note taker for hearing impaired studentsInclude Speech Recognition software or application on computers, Speech Readers, Insert close captioned videos, You Tube videos include a CC-Closed Captioned option for all of their videos.

Assessment: The Assignment 3 (Assessment): Monthly Budgeting: Monthly Expenses & Weekly Savings worksheet was created to teach students how bills are paid, the formula of paying monthly bills, and what a person will need to save per week to pay the bill. This

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Creating a Family/ Personal Budget: Dollars & Sense!Spreadsheet Lesson Plan

ETECH 5303assignment is a Microsoft Excel 2007 spreadsheet with the wants, needs, and unexpected needs/fees the students will place into the charts using the data from the previous Handout 2: Needs and Wants Workbook Sample. Once the students have completed the previous worksheets above (listed in the learning activities, students will have full knowledge and understanding of creating a family/personal budget.

References:

Bernstein, V. (1994). Planning your budget. In Life Skills For Today’s World: Money &

Consumers. (1st ed.). (pp. 36-42). Austin, Texas: Steck-Vaughn Company.

III. The following websites are utilized to ensure this lesson is a fun, interactive, and learning, lesson.

Websites:

1. http://www.teachertube.com/viewVideo.php?video_id=188822&title=Creating_a_Budget 2. http://www.gcflearnfree.org/money 3. http://www.gcflearnfree.org/everydaylife/paybills 4. http://dictionary.reference.com/browse/Wants?s=t 5. http://dictionary.reference.com/browse/Needs?s=t 6. http://dictionary.reference.com/browse/Expenses?s=t 7. http://dictionary.reference.com/browse/Debt?s=t 8. http://www.makeuseof.com/tag/excel-spreadsheet-techniques-to-make-a-personal-budget/ 9. http://smallnotebook.org/2008/09/30/your-family-budget-step-by-step/ 10. http://todaysfamilybudget.com/ 11. http://www.mint.com/blog/how-to/create-personal-budget-online-creating-an-emergency-fund/ 12. http://financialplan.about.com/od/budgetingyourmoney/ht/createbudget.htm 13. http://budgeting.thenest.com/preparing-personal-household-budget-3309.html 14. http://arkansased.org/educators/curriculum/frameworks.html 15. http://www.iste.org/standards/nets-for-students.aspx

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