Family Budget A Project Based Learning Lesson Plan

Project Based Learning Lesson Plan

Monthly Family Budget

Topic

My Family’s Living Budget

Content

Family Planning Rotations

1. Bills (planned Expenses)

1. Rent/mortgage
2. car payment/ transportation
3. car insurance
4. cable/ internet or streaming services
5. Credit Cards
6. Phone
7. Electric/ Gas
8. Grocery
9. Weekly money for living (grocery, gas, entertainment)

2. Unplanned Expenses

1. Car repairs (flat tire, car accident etc.…)

3. Savings

1. Short Term (vacations)
2. Long Term (purchase of a house, college for children etc.…)

Driving Questions

1st visit from a Financial Planner

The financial planner will explain what a budget is and the importance of having a budget. Students will have an opportunity to meet in their groups with the financial planner to discuss in depth questions:

1. What are things that need to be considered when planning a family budget?
2. What are obstacles that could happen to disrupt the family budget?
3. What can you do to plan for disruptions in the budget?

In-Depth Inquiry

1. Review family budget/ What is a budget
2. Why do families need a budget?
3. Use various online tools

1. Money Crashers
2. Money and Stuff work sheet
3. Classroom Materials (www.myclassroom materials)

Critique and Review

Group Critique:

Students will review their proposed budget and create question to ask the community members that will review their budget.  

Community Critique:

Students will meet with various community member’s and present their initial family budget proposal. In the meeting students will discuss the various ways budgets can affect a family. Community members will ask questions and critique the groups budget. Community members will give feedback and any additional insight to help students improve their budget.

Wrap up:

Students will critique each other’s budget and review the information received from the community members. Student’s will discuss ways to implement the suggestions of the community members.

Public Audience

2nd visit from financial planners

The Financial planners will meet with each group to ensure their budgets are on the right track and have a solid plan. The financial planners will also give advice for future adjustments to the family budget.

21st Century Competencies

1. Student’s will track family expense’s everyday and apply tips they learned from financial planners.
2. Student’s will use online research and tools
3. Students will participate in the classroom economy system that will utilize real world scenarios that could happen to use all at any time (unexpected expense’s: car repairs, illness, etc.…)