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Practical Money Skills for Life

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Main Website:

https://www.practicalmoneyskills.com/en/teach/lesson_plans/grades_7_8.html

Activity Website:

https://www.practicalmoneyskills.com/en.html

Activity Description

Practical Money Skills has lesson plans, Student Activities, PowerPoints and Presentations by grade for students. They include lesson plans for students with disabilities as well. Here are the 14 lesson plans designed for grades 7-8

Preparation

Go through the lesson plans, decide which subject you are interested in. Topics range from Making Decisions, The art of Budgeting, Banking Services, Credit, Cars and Loans, The Influence of Advertising, In Trouble, and Consumer Privacy.
Print the Teacher's Guide
Print the student activities for each student
Download and familarize yourself with the PowerPoint and presentations to use in class.

How-To

Review the Teach er's Guide (pdf) for the detailed lesson plans.

Teacher Tips

Free Literacy Materials are available include brochures, workbooks, and Marvel Comic Books. Financial Calculators are available

More Ways

This site offers complete lesson plans and materials on many other topics at the 7th & 8th grade levels including:

Making Decisions
Making Money
The Art of Budgeting
Living on your Own
Buying a Home
Banking Services
Cars and Loans
The Influence of Advertising
Consumer Awareness
Saving and Investing
In Trouble
Consumer Privacy

Also look at other grade levels for more lesson plans you may be able to use.

Program Areas

ABE: Adult Basic Education
ESL: English as a Second Language
ASE: High School Equivalency Preparation
ASE: High School Diploma
AwD: Adults with Disabilities

Levels

Intermediate
High
Intermediate Low
Intermediate High
Advanced

View Lesson Plan

Warm-up

Engagement

(this lesson will require pre-assigning students to keep track of their expenses for a week-month)

In pairs ask students to discuss their goals, and their plans to accomplish them. How does money factor into those goals? Identify current or potential sources of income. (print the student activites. They include:

What are your goals?
Working with your goals
Where does your money come from?
Where does your money go?
setting up and maintaining a personal budget
rework a budget (this looks at and reworks Gabrielle's budget-the worksheet poses questions about what she did with her money) rework the budget to correct her problems, then rework your budget

For the warmup goal evaluation use the worksheets: What are your goals? and Working with your goals

Introduction

Engagement

First as pairs and then as whole class discuss bugeting, what is it? how does it work?

Presentation

Engagement

Prior to this class, have students keep a record of everything they spend for a week to month period of time.

As pairs look at the expenses, what patterns are noticed? Bring the ideas to the whole group. What is impulse buying? How to decide what to purhase, what factores influence purchasing decisions?

Practice

Engagement Enhancement

Have students set up a personal budget that supports their personal and financial goals. Set a date to evaluate the success of the budget.worksheet: Setting up and maintaining a personal budget

Evaluation

Engagement Enhancement

Return to discuss

What was it like to stick to a budget?
Was the budget realistic?
Where did you overspend?
In which areas did you spend less than what was planned?
Where you able to make progress toward your financial goals?
What would you change about your budget?

Use the worksheet Rework a budget to examine Gabrielle's budget and what problems she had and solutions that may be available.

Practice

Engagement Enhancement

Discuss what you learned about your personal budget. Rework the budget using the observations from your first budget. Use the second half of the Rework a budge worksheet

Application

Enhancement Extension

The lesson plan has a quiz, "lesson three quiz: the art of budgeting (the answers are in the online lesson)

As a class, discuss the case study about Mary and Brad Johnson who are continually short of money even though they both have good salaries. What actions might be taken to avoid personal and financial difficulties?

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Practical Money Skills for Life

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Activity Description

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