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

Lesson Length: TBD 12 60 min

Content Identification: Like in the previous period, this class will provide the students time to work on their personal budget, particularly the blog creation. The students will not have to post the first reflection until 2 weeks from now, but in order to do so, they must have a working webpage and a formulated budget before the next week begins, so that they can start to track their actual financial data. This class will allow the students time to access me to help with Word Press and setting up the blog, as well as, creating the outline for their personal budget. 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. b. Identify and describe the key terminology associated with budgeting such as assets, budgets and liabilities. c. Explore the different types of expenses such as fixed, flexible and discretionary. 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 personal budget, which they will track, modify and maintain throughout the semester. This budget will include, income, expenses (fixed, variable, required and optional), savings and investments, as well as, personal financial goals. This assignment will serve as one of the two summative assessments for the unit.

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: Personal Budget assignment and rubric, Google Drive access, internet/computer access and Word Press will all be required. Set: (2 min) 1) Again, 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. This situation will be identical to the previous day, however, in this period I will be spending time focused on the blog set up. I want every student to have a functioning blog by period end. Closure: (3 min) 1) I will remind the students that in the next period we will take an overview look at some of the elements of personal finance, and how they relate to budgeting, before having some more work time and moving on to the next unit.