Detailed Lesson Plan Preparation

Elementary Education

Name: Delaina Hawkins

Title: Budgeting

Grade: 5th

Concept/Topic: Social Studies/Economics/Budget

Time Needed: 1 hour

Backward Design Approach: Where are you going with your students?

Identify Desired Results/Learning Outcome/Essential Question:

Students will be able to explain the importance of a budget and how one is used.

NCSCOS/Common Core Standards:

Essential Standards:
5.E.2.1 Explain the importance of developing a basic budget for spending and saving.
5.E.2.2 Evaluate the costs and benefits of spending, borrowing and saving.

5.V.2.2 Use ideas and imagery from the global environment as

sources for creating art.

Assessment Plan:
Evaluate student understanding based on explanations, participation, and able to express concepts
through drawing at the end of lesson.

Meeting the student where they are:

Prior Knowledge/Connections:
Students are familiar with money and the want to buy items. It also builds on upon economic skills that
were taught in the 4th grade common core curriculum.

Lesson Introduction/Hook:
Start with introduction of budget and related terms.
Heart of the Lesson/Learning Plan:

Differentiation/Same-ation:
Each student is able to make their own choices for each part of the lesson. All students are preforming
the same general task but each student has a choice in the qualities that they have to compute and have
the the option to not compute sometimes.

Lesson Development:

Step 1:
Start with asking about what is a budget?
What do you use it for?
Why do you need one?

A budget is an estimate of income and expenditures for a given amount of time.

Lets go over some vocabulary that we might use while talking about a budget..

Income: How much money you make

Expenditures/expenses: Things that you have to spend money on
Debt: When you owe something (In our case, money)
Spending:pay out money for a particular benefit
Saving: setting aside money for later use

When making a budget, what are some things we should consider?

-income
-expenses
-utilities
-groceries
-gas
-insurance
-rent
-savings/emergency funds

We are going to do a scenario where you get an income and you will be responsible for budgeting your
money.

Pass out worksheet to help guide and format their budget.

Step 2:
-Display list of possible jobs. Students must decide what job they want to have. Students must record
this, along with every other step on their worksheet.

-After students pick their jobs, reveal their incomes. This is for a month. They must record this on their
sheet.
-Next, reveal debts for school. Subtract out the amount they owe.

-Next, they get to pick the house that they would like to live in. Remind them to think about
what the can afford. (prices of rent will be displayed next to picture)

-Now they must subtract out utilities that go along with their chosen home.

-Pick your car (monthly payment will be next to the image)

Reveal how much they will spend in gas for the month based on their car.

For groceries they have to all spend $100.

Now you can decide what you want to do with the rest of your money. Decide how much
spending money you want and how much you want to put in your savings.

I will then provide a list of vacations or electronics that they can choose to purchase. This
amount must be subtracted out.

Now pick a wild card off of the table. Some of these cards have good things on them and some
of them have some bad things.
If you received a bonus, add it in. If you have to fix or replace something, subtract it out.

Step 3:
Who ran out of money?
Who has any money left in their savings?
What worked well for you?

Turn and talk to a partner about what you learned and what you would do differently.

Step 4:
Draw a collage of images that represent what you can spend your money on.
(A collage is a collection of images)
The things that are most important to think about when making a budget should be the biggest
in your drawing.
The things that are less important should be drawn smaller.

Specific Questioning:

Start with asking about what is a budget?

What do you use it for?
Why do you need one?
When making a budget, what are some things we should consider?
Who ran out of money?
Who has any money left in their savings?
What worked well for you?
Would you be happy?
What would you have?
Would you be in debt or run out of money?
How would this make you feel?

Concluding the Lesson/Closure/Debriefing:

Who ran out of money?
Who has any money left in their savings?
What worked well for you?
What are some other things we may need to consider when making a budget? (how many
family member, purpose of home/car, insurance, taxes)
What are the benefits of planning out your money in advanced/budgeting?

Turn and talk to a partner about what you learned and what you would do differently.

Draw a collage of images that represent what you can spend your money on.
(A collage is a collection of images)
The things that are most important to think about when making a budget should be the biggest
in your drawing.
The things that are less important should be drawn smaller.

Show examples of different collages

It may be easier to write down a list of items on the back of your paper to include before
starting to draw.

It also might be helpful to start by drawing the items that you believe should be the largest,
first. Commented [1]:
Arts Activity

Materials/Resources:
Worksheet
Powerpoint
Wild cards
Blank sheet of paper
Coloring/drawing utensils
Scrap sheet of paper for computation (if needed)