Do You Have Money to Burn?

Do You Have Money to Burn?

A Lesson in BudgetingA Lesson in Budgeting

Karen Indenbom

University of Phoenix

CMP-555

March 3, 2006

Karen Indenbom

University of Phoenix

CMP-555

March 3, 2006

Table of ContentsASSURE Model for Teachers

Analyze Learners

State Objectives

Select Methods, Media & Materials

Utilize Media & Materials

Require Learner Participation

Evaluation of Methods & Materials

References

Table of Contentsfor Students

Problem StatementWhat should you do?Needs versus WantsDebt versus IncomeCreate a SpreadsheetChart the DifferenceCulminating ActivityDeliverables

Teacher’s Stuff

• 26 tenth-grade students

• Consumer mathematics class

• 15-17 years old

• Below average in mathematics and require the assistance of a resource room teacher

• Two-thirds of the students are African American and/or Hispanic who live in an urban community.

• Little or no

behavioral problems

• Visual and kinesthetic learning styles

Entry Competencies

The tenth grade mathematics students are able accomplish all of the following:

Keep a journal of daily expenses

Create and format a Microsoft Excel spreadsheet

Create basic formulas in Microsoft Excel

Estimate daily and monthly expenses

Discuss financial goals and describe the differences between needs and wants

Choose an appropriate line graph and create it from data in Microsoft Excel

Read and interpret line graphs

Create documents using Microsoft Word

Cut and paste information from one Microsoft program to another

• Keep a journal of all the things they spend money on in one month without missing more than 3 days

• Compare estimated monthly spending budgets to actual spending behavior by creating a Microsoft Excel spreadsheet with formulas that calculate the difference between the two with 100% accuracy

• Choose, design, and label a line graph that shows the correlation between estimated spending habits, actual spending habits, and the difference between the two with 95% accuracy

• Summarize actual spending habits versus estimated spending habits and develop a plan to save more money next month by creating a report citing the savings plan in Microsoft Word

• Proxima Projector

• Laptop Cart with 30 Laptops

• Microsoft Office Suite

• Email

• Prepare the Learners

• Provide the Learning Experience

Select Methods, Media, and Materials

Preview the Materials

Prepare the Materials

Prepare the Environment

Prepare the Learners

Provide the Learning Experience

• Large Group Activities

• Small Group Activities

• Individual Activities

• Rubric

• Observation Notes

• Student Surveys

• Poster

• Spreadsheets

• Quiz

Do You Have Money to Burn?

Do You Have Money to Burn?

Students’ StuffStudents’ Stuff

We are going to investigate how well your actual spending habits match your estimated spending habits and find areas where you can save money each month.

What should you do?• Keep a journal of everything you spend money on for a month.

• Discuss the difference between needs and wants.

• In your groups, discuss how you spend your money.

• Estimate how much money you spend in a month.

• Create a Microsoft Excel Spreadsheet calculating the difference between actual spending habits and estimated expenses.

• Graph your results.

• Create a poster of your results and present them to the class. Discuss your individual spending habits and how you can improve those spending habits.

• Complete the Word Search to remember terms related to budgeting.

• Take the Budget Quiz.

• Use the Rubric to determine how you are doing on your projects.

WantsNeeds

Debt versus Income

Car Insurance

Clothes

Entertainment

Savings

Car Payment

Cell Phone

Food

Rent

Salary

Create a spreadsheet of your budget!

ITEM COMMENTS

Estimated

Budget

Actual

Budget Difference

RentIf your parents ask you to pay rent, include it

here.

Utilities

This can include cell phone, cable t.v., electric

and any other bills that your parents ask you to

pay.Transportation Car payment, insurance, gas

Food Include snacks and meals

Medical Expenses Do you pay insurance?

Clothing Includes school clothes and leisure clothes

Leisure Activities Movies, concerts, restaurants, etc.

Miscellaneous Unexpected Expenses

TOTAL

How much money do

you make a month?This can include jobs, babysitting, allowance,

etc. I am looking for net income (after taxes).

Total Expenses Reference the actual expenses column

SAVINGS How did you do?????

M ont hly Budget

Monthly Budget

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

$200.00

Item

Am

ount

Spe

nt...

.

Estimated Budget

Actual Budget

Chart the difference between your estimated budget and your

actual budget.

Culminating Activity• Create a poster containing one of the charts the

chart you created in Microsoft Excel.

• Write a short essay (two to three paragraphs) explaining your results, what you learned and what you can do to save more money next month.

• The essay should be written in Microsoft Word and attached to your poster.

• You will present your poster to the class explaining the results and your saving strategy for next month.

Objectives Beginning Developing Accomplished Exemplary Scores

Create and maintain an expenses journal

1 point Journal was not detailed. Missed 7 or more days of expenses. Journal could be neater and/or more organized.

2 points Journal was not detailed. Missed 4-7 days of expenses. Journal could be neater and/or more organized.

3 points Kept a detailed journal of daily expenses. Missed less than 3 days of expenses. Journal was neat and organized.

4 points Kept a detailed journal of daily expenses. Expenses were accounted for every day. Journal was neat and organized.

of 4

Compare and sort data in a Microsoft Excel spreadsheet

1 point Worksheets were not complete. Formulas were not entered correctly. Did not sort data properly.

2 points Worksheets were complete. Some formulas were not entered correctly. Sorted data.

3 points Worksheets were complete. Entered in all the correct formulas to calculate totals and differences Sorted expenses in descending order.

4 points Worksheets were complete. Entered in all the correct formulas to calculate totals and differences. Sorted expenses in descending order. Customized worksheets by changing fonts, colors and size of cells

of 4

Graph data in Microsoft Excel

1 point Graphed results in a separate worksheet. Appropriate graph was chosen. All data was not included or graph was not accurate. Graph did not include X and Y labels, title or a key.

2 points Graphed results in separate worksheet. Appropriate graph was chosen. All data was not included or graph was not accurate. Graph included X and Y labels, was titled and included a key.

3 points Graphed results in a separate worksheet. Appropriate graph was chosen. Graph was accurate and included all data. Graph included X and Y labels, was titled and included a key.

4 points Graphed results in a separate worksheet. Appropriate graph was chosen. Graph was accurate and included all data. Graph included X and Y labels, was titled and included a key. Changed fonts and colors in graph.

of 4

Create a poster 1 point Poster included only the Excel graph or the Essay. Essay did not express a clear savings plan. Essay was not organized well and/or was not neat and/or contained several errors in spelling, punctuation, and capitalization. Poster did not demonstrate a thoughtful effort.

2 points Poster included Excel graph and essay written in Microsoft Word. Essay expressed a savings plan. Essay could use more work in organization and word choice. Essay was neat. Essay contained several errors in spelling, punctuation, and capitalization. Poster was very basic.

3 points Poster included Excel graph and essay written in Microsoft Word. Essay expressed a clear savings plan, was organized and used precise word choice. Essay demonstrates was neat and had very few errors in spelling, punctuation, and capitalization. Poster was creative and demonstrated a thoughtful effort.

4 points Poster included Excel graph and essay written in Microsoft Word. Essay expressed a clear savings plan, was organized and used precise word choice. Essay demonstrates mastery of grammatical conventions, was neat and free from errors in spelling, punctuation, and capitalization. Poster was creative and demonstrated a thoughtful effort.

of 4

References• Animation Factory. (2006). Retrieved electronically

on March 3, 2006 from http://www.animationfactory.com/

• Bethlehem Township School District. (2005). Mr. Blackman’s monthly budget lesson. Retrieved electronically on February 1, 2006 from http://www.btschools.org/EHMS/MonthlyBudget/

• Commerce Bank. (2005). Commerce WOW!Zone. Retrieved electronically on February 1, 2006 from http://www.commercewowzone.com/educators/

• Kennesaw State University. (2005). School related background sets and clipart. Retrieved electronically on February 1, 2006 from http://webtech.kennesaw.edu/instructor24/graphics.htm

• Smaldino, S., Russell, J., Heinich, R., & Molenda, M. (2004). Instructional technology and media for learning. 8th ed. Upper Saddle River, NJ: Pearson Prentice Hall Inc.

Now you know the road to riches…

Travel it!!