Personal Financial Literacy

Saneliya C. Em
11th-12th Grade

Common Core Standards:

1.9.1. Create, analyze, and interpret financial documents (e.g., budgets, income statements).
1.9.2. Identify tax obligations.
1.9.3. Review and summarize savings, investment strategies and purchasing options (e.g., cash, finance).
1.9.4. Identify credit types and their uses in order to establish credit.
1.9.5. Identify income sources and expenditures.
1.9.6. Implement established accounting processes and internal cash controls.

Lesson Summary:

The series of steps this lesson will implement is the base and integrated knowledge of an understanding of
personal financial management such as, banking, monthly money management, and how-to budget. Students
should have an exceptional capability of personal financial management when entering the adult world.

The purpose of the lesson is to have individuals and or students, have a finer understanding of budgeting from
different perspectives, such as experience from different jobs and their viewpoints. Each student will be given
a different scenario every week or every 2 weeks from the beginning of one semester, until the next.

Students will come from different scenarios such as being a student that is part time, a parent who works full
time, a parent who works and attends school, or a single adult working full time, etc. There will many different
situations students will be able to have exposure to and toil with.

In all, students will learn financial responsibility, and decision making, planning and money management.

Estimated Duration:

This lesson will be approximately 9 weeks long (until the end of the semester). Monday through Friday, the
lesson will take about one hour to evaluate your expenses and aspects to properly manage, based on the
scenario given. Although for some scenarios, there will be homework to take home to examine over. Each
class period last about 50-55 minutes, therefore there will be enough time to overlook things. Towards the end
of the semester we will calculate the expenses and finalize how well you kept track of your budgeting.
Commentary:

As a future educator, my approach to this lesson is to help students in saving, investing, and managing their
expenses so when they build strong money habits before they hit the real adult world and will be prepared. It
will help them avoid confusion and money issues.

Some things I anticipate that might be a challenge is not everyone knows how to handle money for the first
time, especially a huge amount. Some students may not know all the expenses that has to be paid by the due
date. Other challenges students will have is the scenario that is given to them, they may struggle working with
it because there will many different perspectives.

How I will get my students “hooked” into the lesson is to explain them that when you get older, you need to
understand how it is being adult. Money is very important to have because without it, you won’t get by in life.
Not everything in life is free. Before I start this semester assignment, I will ask each student to go home and
ask their parents their occupation (doesn’t have to be told public, will be confidential) and to ask questions
about their income, salary, pay rate, all the bills they have to pay and all the other necessities they pay for.
Then, the students will bring it to come and I will help them analyze it. Students will be able to understand that
with becoming an adult, it is expensive and that they need be prepared or else they will have lifelong money
struggles if they do not properly understand how to budget their finances.

I can also implement an introduction of giving students a scenario-based situation. We will start off with a
huge amount of money, and as a class we will thoroughly talk about all the expenses one has to uphold. They
will see the sum of money, has gradually lowered at a face pace and that when handling money, it is very
important to know how to do these things as you get older.

Instructional Procedures:
Below I have a planner listing all the days. Class will uphold Monday-Friday, therefore that is when students
will be required to do in class assignments and participation. At the beginning of class, every Monday, ONLY
SOME students will be required to at random, receive a different occupation every week because some jobs
receive weekly pay. Whereas, other students will receive an occupation with bi-weekly pay. It all just depends
on the job and scenario you have. The weekends are listed in the planner because some jobs work weeks, not
all jobs are a Monday through Friday job, therefore we need realistic scenarios. Some weeks will be easy,
some will be tolerable, and some will be very hard. It’s all part of the learning process when budgeting!

Steps:

1. (MONDAYS): At the beginning of the week, you will randomly draw a card of what your occupation and
scenario will be.

Some of the occupations provided are:

 Registered Nurse Retail Worker Police Maid Farmer Lawyer

Doctor Auto Mechanic Teacher All Warehouse Librarian Cook

Jobs

Nurse Assistant Construction Bank Teller Professor Cosmetologist or Dental Hygienist

Barber

2. (MONDAYS): (First 10 minutes of class) - Then you will draw another card and will be given a life
scenario of your situation, with the job that was randomly chosen.

All scenarios will be paying for thing such as:

Utility bills, mortgage/rent (unless paid off – Will state on card), car insurance, health insurance (dental and
vision, etc. – Will state which health insurance you chose on card), phone bill, car bill (unless paid off – Will
state on card), groceries, tuition (ONLY if attending college), etc,.

Students will know their pay is before throwing curve ball scenarios towards them.

Examples:

- You have kids (Therefore you’ll have to provide extra expenses)

- You are single
- You are married (Incomes can be combined, you may be paired with a partner if stated on your card
to experience a combined income for extra understanding)
- You’re married with a newborn
- You are single with a pet
- You’re a college student working full or part time
- You’re a full-time worker, but continuing your education to further your degree and have kids that
need daycare while you’re at school
- You are attending college, working full or part time, but living with your parents still, although they
make you pay rent and some utility bills to take part in the household.

3. Throughout the week, in the beginning of class for 25 minutes (Monday-Thursday; Even weekends), I
will tell students the amount of expenses they have to pay. I will throw out numbers for all the expenses and
will have to be able to calculate the cost and tell the instructor the money they have left over. I will give our
dates that this bill is due, your child is sick, therefore you need to take them to the hospital, or your tuition and
books is this much, your pet is sick, you must get groceries, or your phone just broke so you must get a new
one. I want students to be prepared for whatever life is throwing at them.
4. (FRIDAYS): At the of class, with at least 20 minutes, each student will hand in their calculation expenses
and we will go over if they did it right. Towards the end of the semester, I will see if each and every student
has grasped the knowledge of budgeting their own personal finance based off the occupation and scenario
given.

Sometimes after the first 10 minutes of class, I will go through tips and tricks of how to budget money,
understanding credit, how to save, and other alternative factors that will help. (Not going into debt, loans, late
fees, etc.,).

*Keep in mind all of this budget planning, will be saved in an Excel document. I want students to know how to
use their phones for usage of reminds, planning, notes, etc. A computer will be used the majority of the class
and calculators. At the end of the semester, students will present a project using an educational based website
to demonstrate their knowledge.

Pre-Assessment:

One strategy is: 1.9.3. Review and summarize savings, investment strategies and purchasing options (e.g.,
cash, finance). I want to see if they can comprehend these standards.

What I will do is handle out a short pre-test to analyze the knowledge that they have already. Then we will go
over as a class together about the correct answer and why, along with a power point for a better understanding
of the content.

Also, something I would like to input in my lessons, is everyday we will have a warm up question just to get us
thinking about whatever today’s lesson may be. Then we will go over it in class and conversate about it.

Scoring Guidelines:

For the pre-test there will be scoring, but I will put it as participation points.
Once we go over the pre-test, I will give points to those who explain their explains as to why it’s right
or wrong.

For scoring the semester project, I will base it off effort, did you do the work, what was being asked, do
you have all the content that was stated, and if you did it the correct way. I want to be strict with
grading, because these are things you NEED to know, and any mistakes the students make, I’d be more
than welcomed to help them with it. During presentations, I will ask the student how they felt about the
project, what did you learn and their thoughts on how I could make this project more helpful.
 - Quizzes will always be 5 questions, 5 points.
- Warm ups will be 5 points also and considered participation.
- Test will be 20 questions, 20 points and an extra credit for 2 for a bonus question!
- Test will be multiple choice and written response.
- I will allow retakes if necessary.

Post-Assessment:

Test will be 20 questions with multiple choice and written response questions. Also a 5 minute sit down talk
with the instructor about their findings and what they’ve learn so I can analyze each and every individual to
make sure they understand the content.

Scoring Guidelines:

I will give points for effort. I don’t want improper work. Also, for completion and an understanding of
the learning/findings. I have to be strict with this because it’s something I’m teaching students because
learning this will help students in the future. Post assessments will be a majority of there grade. If you
fail the test, and find you made a mistake, I’d like for the student to come up to me and tell me what
they did wrong, therefore I would think about changing their grade because I understand not every
student/person will understand budgeting finance right away. I want to be lenient.

Differentiated Instructional Support

Before I teach students, I want to learn how they learn, therefore it can help me teach so I can teach lessons in
different ways. Some are visual, some are listeners and some are hands on.

I will offer to stay after class or after school to help students who need it. Because I understand it is not easy
for everyone to understand these things and it takes time, patient and effort. Sometimes students learn best one
on one with a teacher and that is perfectly fine with me.

For students who are gifted or accelerated, now sometimes, even the most gifted/accelerated individuals do not
understand certain things in life which they may lack, but if so, I hope I will have a breakdown of how to
properly budget finances.

Discuss additional activities you could do to meet the needs of students who might be struggling with the
material:

- One on one tutoring with the instructor

- Having a classmate help
 - Not assigning extra work, but thoroughly going on it together.
- Be patient and take your time learning about how the student learns and intakes the lessons. Make
sure they know it’s beneficial for them in the future and the becoming of an young adult.

Extension

Link: http://education.ohio.gov/Topics/Career-Tech/Education-and-Training-Career-Field
Then go under where it says ‘High School’ and click the first tab: Education and Training Field Pathways
Course Description and Education and Training Career Field Course Outlines

Will explain in depth about the class and its standards. Section 1.9.

YouTube Links about Personal Finance 101: https://www.youtube.com/watch?v=LNi4cC-OfgI (Will help

you understand the basis and knowledge of finance).

Link: https://www.youtube.com/watch?v=m9UPKcrw9BY (Will explain to you why personal finance

education in high school is important).

Homework Options and Home Connections

How I would encourage parents to help students with this assignment, it to help explain to them how to budget
properly. Having a parent by your side can really help you because sometimes the way a student or teacher
explains may not always process to the brain and their understanding.

Homework will be assigned online through Google classroom. Students can email me, check the lesson plans
and syllabus on Google Docs, use the spreadsheet or Excel, whichever one they prefer using for the
information input for their semester findings.

Interdisciplinary Connections
Tell how the lesson can be integrated with at least two other content areas to strengthen student learning. For
example, if you’re having your students do a comparison and contrast paper on Hamlet and Macbeth, what
other subjects could you draw into the lesson? Perhaps you’d want to talk about the social and political climate
of the time period of the two plays (History) as well as the big questions asked in each play- “to be, or not to
be?” (Philosophy and Ethics).

Materials and Resources:

For teachers - Tablet for personal use to track grades.

- Computer for grades and lesson planning.
- Smartboards to demonstrate lesson plans.

For students - Tablets for finance apps we can go over in class

- Computers to do the assignments on
- Smartboards for presenting

Key Vocabulary

Finance, budget, analyze, management, decisions, responsibility, interpret.

Additional Notes

Professor Frick, I don’t know much technology I can contribute into my lesson plan and this was the most I
could think of. Sorry if it wasn’t too creative, it’s all I could think of. I tried my very best to explain in detail
my steps for my lesson plan also! Thank you for reviewing my work.