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The students will be able to read reallife problems and solve the problems
and learn the advantages of budgeting
while spending money.
Materials/Equipment:
Basic calculators
Fake checks
Fake money
Paper
Ch-Ching Worksheet
TEKS Achieved:
(b)(1)(c) Mathematical Process Standards:
Students are able to select tools needed to
solve the problem and use various math
techniques.
(3)(A): The students estimate to determine
correct solutions to real world problems.
(10)(c): The students can identify various
payment methods and explain
advantages/disadvantages
(10)(e): The students can how to balance a
budget if expenses are more than income.
(10)(f): The students can balance a simple
budget.
Blooms
Taxonomy:
Knowledge
Comprehension
Analysis
Synthesis
Learning Styles:
Auditory
Kinesthetic
Verbal/Linguistic
Intrapersonal
Visual/Spatial
Logical/Math
Musical
Interpersonal
Classroom Strategies:
Cooperative Groups
Hands-On
Technology
Centers
Independent Activities Simulation
Charts/Graphs/Maps
Lecture
Problem Solving
Whole-group
Peer tutoring
Pairing
Objectives/Outcomes:
(Statements about what the children will do, written out as the
student will. Include objectives for your chosen content area(s). Refer to the TEKS.)
Teks: (b)(1)(C), (3)(A), (10)(c)(e)(f)
Lesson Plan:
Introduction (Anticipatory Set/Motivation):
1. If you take a look around for me you will notice that some groups have
checks on their tables while others may have credit cards. Today we are going
to pretend that we are going out to have fun with friends.
Process:
1. Divide students into groups to go work in the tables set up. Tables are set up
with money on them or checks on them along with basic calculators and paper
for them to problem solve.
2. At the credit card group table have the students write down on their piece
of paper a Wants table with Wants on one side and Total on the other side.
Next to the Wants table have the students write down the Needs one one side
and Total on the other. Give the students various needs that they may need to
pay Ex.: Rent, Electricity, Water, Internet, Phone, Groceries and also give them
some prices to write down.
Under the wants column have the group determine their own wants that they
would want to buy. After the group has come up with some wants do some
research or estimate the prices of each item they have come up with.
3. Limit their budgets to $600. Have them start out with fake $600 in cash
and for each transaction during the month as stated above in the wants and
needs have them slowly take away the amount. Have the students write down
the total for the amount of needs. After the total amount of needs is
calculated, give them the price of each item that they listed for their wants
and have them total this column. Ask them if they have enough money for
everything (the answer should be no for the wants). Have them go in and figure
out how they would calculate the amount that they have left over to buy their
wants.
4. The group working with their fake checks will be given names of various
individuals, dates, and amounts that need to be written correctly. The students
are working on writing out the amount of money in words here.
5. The groups will switch after they have completed their various activities.
6. At the end of the group activities have the students return to their seats
and ask them questions about what method of payment they prefer (Ex.
Checks, cash, or credit cards). If the students are struggling with answering
the question, scaffold them and do a mini-lesson over checks, credit cards, and
cash. Stress that credit cards should not be the only option as this creates
debt.
7. Have the students write down the word debt and explain the definition of
debt to them.
8. If time remains have the students complete the independent activity
worksheet Chhh-chinng.
Homework/Practice:
Have the students complete the Chhhh-chinng worksheet and bring back
the next day if not enough time in class remaining to complete.
Accommodations:
Assessment/Evaluation:
Formative Assessment: While students are in groups make sure that
they are correctly solving the problems and understanding the lesson.
TEKS Mathematics 111.7. Grade 5, Adopted 2012. (2012). In Texas Education Agency.
Retrieved March 14, 2016, from http://ritter.tea.state.tx.us/rules/tac/chapter111/ch111a.html#111.7
Name:_______________________
Due:______________
Date:_________________
Directions: Sarah's paycheck amounts to the total $983.00 for two weeks.
Add up the bills in the Needs column. She will have some remaining funds
left. Circle the items that she can afford with the remaining amount in the
Wants column.
Remember to use decimals, to the hundredths place.
Needs
Total Cost
Groceries
$100.00
Rent
$480.00
Electricity Bill
$70.00
Heating Bill
$100.00
Transporation
$50.00
Savings
$100.00
Wants
Total Cost
$40.00
$40.00
$30.00
$70.00
Gym membership
$30.00
How would you find the amount left over for wants? (What steps would you
take to solve this problem).:
Why is budgeting important? Why can you not spend your money on
everything you want? Would the total in the end equal the negative amounts
(past zero)?