Much of this Unit of Work will focus of the textbook, "Money, Markets and Citizenship" (MacMillan: 2006), with a primary focus on chapters one and two. By the end of this unit, students should understand:
What it requires to make sound financial decisions?
How money is used, (eg. Cash vs. credit, bank loans, trusts).
Basic economic jargon related to business and investing.
By the end of this unit, students should be able to:
Create a thoroughly thought out budget that demonstrates an understanding of either their own, or somebody else's, financial situation and limitations.
Give sound financial advice and make decisions that factor in numerous variables.
Strategically assess investment opportunities while taking into consideration, though not limited to; risk/reward, market fluctuations, appreciation/depreciation.
- Create an xmind that indicates all of your sources of income at the moment. Create a new xmind that details where you expect your income to come from in 10 years time.
- Create a list of 10 Wants and 10 Needs that you have right now. Assess each of these considering
Where would the money come from for each of these.
Do you have the money for any of your wants? If not, what can you do to get this money?
Lesson 2: Creating a Budget
Board Notes
Activities
- Create a cash budget for Christopher, (p. 5-6 of the text) ensuring that you consider each expected cash receipt and payment on a WEEKLY basis.
- Set up a diary of your income and expenses for this week. Swap this randomly in the class and assess whether your partners spending could be reduced.
Class Sample - Personal Budget Ideas
This sample was create in class considering a wide variety of all of the students' incomes and expenditures. To create your own you will have to come up with YOUR money is coming from and going to in order to see how much money you should have left over as surplus (excess of receipts over payments).
Lesson 3: Setting a Goal
Board Notes
Activities
- Have a group discussion based on of the short-term and one of long-term goals. Discuss the processes required to achieve the end product (making the purchase) of each of these goals.
Are there any similarities and differences?
- Make a list of the possible reasons for being a bad debtor and a list of consequences for being a bad debtor.
Are there ways of being a bad debtor that can be unavoidable?
What can be done to ensure that you do not incur a bad credit rating?
Of the strategies above, which are the cheapest and easiest to implement?
Lesson 4: Giving Budgeting Advice
Activities
- "Kim's Budgeting Dilemma" - Learning Activity on p. 7.
Complete this activity using any form of visual medium to get your message across, (iMovie / Brochure / Poster etc. a voice recording is acceptable). Student Samples
If you would like to see David's brilliant iMovie click here, then click on "Kim's Budgeting Dilemma".
*Apparently this was not overly time consuming and quite easy to make.
Lesson 5: Spending Wisely
Activities
- Go through p. 9-10 from textbook. Discuss how we can apply each of the tips to our our own lives in Year 10.
- Complete the Learning Activity on p. 10 to create a Magazine Cover, ensuring:
There is an identifiable Heading / Logo.
3 separate headlines with sub-headings.
3 relevant accompanying pictures.
1 main picture.
The magazine can have a specific focus (ie. technology / fashion etc.) but must have the central theme of money and wise investment.
Student Sample
Lesson 6 and 7: Jessica's Extreme Makeover
Read over the case study on p. 16-17 and give students any guidance to get started.
Activities
- Complete Parts 1-5 of "Jessica's Extreme Financial Makeover"
For Part 1 - Compile a list of 10 different ideas that will save Jessica money. Each will need a small description as to how it will assist in this endeavor
For Part 2 - Tackle this question based on Jessica spending $100 per month for $100 talk and text and 200MB of data.
Lesson 8: The Smart Consumer
Begin reading Chapter 2 of the textbook.
Activities
Before opening the books to start the new chapter!!!
- What is money really worth?
Hold up a $5 note and discuss as a group what does this note equate to.
Does it have any real value?
What is more beneficial in and of itself, a loaf of bread or a $100 note?
So then, why do we put so much stock in money?
What is the function of money? Best description wins a lollipop!!!
Once we have read past the section on EFTPOS!!!
- Do a PMI chart of EFTPOS and Electronic Banking on the board. Students to copy down once finished.
- Give students the chance to finish off "Jessica's Extreme Financial Makeover", due in Lesson 8
Lesson 9: Consumers - Choice, Manipulation and Security
Read from p. 26-33.
Activities
Before opening the books!!!
- What choices do I have as a consumer? (ie. How can I either pay less or get more? Or both?)
Put these ideas into an x-mind then add others later after reading the section of the text.
- Copy the following table into Pages and fill it out over the next two nights. Pref between 6-10pm but not necessary.
#
Time of Advertisment
Product Advertised
Style of Advertisment
Rating Out of 10
Effectiveness: Did it MAKE you want the product? (Comment)
1
2
3
4
5
6
7
8
9
10
Make a list in your books in class what companies and products would be likely to be on television (After this discuss the differences between each of these times and markets.):
Between 6-7 on a weeknight.
During halftime in the footy.
Before school during cartoons.
During the Master Chef Grand Finale.
Lesson 10: Personal Finance and Budgeting
What will I need on my Cheat Sheet?
Budgeting. (use the template) - Understanding of the importance budgeting and consequences of being a poor budgeter.
Cash vs. Credit. Definitions. Why is money in these two forms? Pros and cons for each?
The Function of Money.
Investment. What is it? Different types of investment.
Wants vs. Needs.
Forms of Income.
Money Saving Strategies. (eg. Setting Goals)
Debt. How to avoid it? What happens if you get into it? How to get out of it?
Personal Finance and Budgeting
Much of this Unit of Work will focus of the textbook, "Money, Markets and Citizenship" (MacMillan: 2006), with a primary focus on chapters one and two.
By the end of this unit, students should understand:
- What it requires to make sound financial decisions?
- How money is used, (eg. Cash vs. credit, bank loans, trusts).
- Basic economic jargon related to business and investing.
By the end of this unit, students should be able to:Lesson 1: Introduction to Personal Finance
Activities
- Create an xmind that indicates all of your sources of income at the moment. Create a new xmind that details where you expect your income to come from in 10 years time.- Create a list of 10 Wants and 10 Needs that you have right now. Assess each of these considering
Lesson 2: Creating a Budget
Board Notes
Activities
- Create a cash budget for Christopher, (p. 5-6 of the text) ensuring that you consider each expected cash receipt and payment on a WEEKLY basis.- Set up a diary of your income and expenses for this week. Swap this randomly in the class and assess whether your partners spending could be reduced.
Class Sample - Personal Budget Ideas
This sample was create in class considering a wide variety of all of the students' incomes and expenditures. To create your own you will have to come up with YOUR money is coming from and going to in order to see how much money you should have left over as surplus (excess of receipts over payments).Lesson 3: Setting a Goal
Board Notes
Activities
- Have a group discussion based on of the short-term and one of long-term goals. Discuss the processes required to achieve the end product (making the purchase) of each of these goals.- Are there any similarities and differences?
- Make a list of the possible reasons for being a bad debtor and a list of consequences for being a bad debtor.Lesson 4: Giving Budgeting Advice
Activities
- "Kim's Budgeting Dilemma" - Learning Activity on p. 7.Complete this activity using any form of visual medium to get your message across, (iMovie / Brochure / Poster etc. a voice recording is acceptable).
Student Samples
If you would like to see David's brilliant iMovie click here, then click on "Kim's Budgeting Dilemma".
*Apparently this was not overly time consuming and quite easy to make.
Lesson 5: Spending Wisely
Activities
- Go through p. 9-10 from textbook. Discuss how we can apply each of the tips to our our own lives in Year 10.- Complete the Learning Activity on p. 10 to create a Magazine Cover, ensuring:
Student Sample
Lesson 6 and 7: Jessica's Extreme Makeover
Read over the case study on p. 16-17 and give students any guidance to get started.Activities
- Complete Parts 1-5 of "Jessica's Extreme Financial Makeover"
For Part 2 - Tackle this question based on Jessica spending $100 per month for $100 talk and text and 200MB of data.
Lesson 8: The Smart Consumer
Begin reading Chapter 2 of the textbook.
Activities
Before opening the books to start the new chapter!!!- What is money really worth?
Hold up a $5 note and discuss as a group what does this note equate to.
- Does it have any real value?
- What is more beneficial in and of itself, a loaf of bread or a $100 note?
- So then, why do we put so much stock in money?
- What is the function of money? Best description wins a lollipop!!!
Once we have read past the section on EFTPOS!!!- Do a PMI chart of EFTPOS and Electronic Banking on the board. Students to copy down once finished.
- Give students the chance to finish off "Jessica's Extreme Financial Makeover", due in Lesson 8
Lesson 9: Consumers - Choice, Manipulation and Security
Read from p. 26-33.Activities
Before opening the books!!!- What choices do I have as a consumer? (ie. How can I either pay less or get more? Or both?)
- Put these ideas into an x-mind then add others later after reading the section of the text.
- Copy the following table into Pages and fill it out over the next two nights. Pref between 6-10pm but not necessary.Lesson 10: Personal Finance and Budgeting
What will I need on my Cheat Sheet?