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Goal
To
develop “real-life” budget and money management skills and introduce
financial planning as a research and decision making process. |
Objectives:
Consumer and Personal Finance
Define factors that influence gross and net income.
Design, implement, and critique a personal financial plan.
Discuss how to obtain and maintain credit.
Prepare and use skills for budget preparation, making predictions
about income and expenditures and adjusting spending or expectations
based on analysis.
Use comparative shopping techniques for the acquisition of goods and
services.
Analyze the impact of living arrangements on personal purchasing
decisions.
Employability Skills
Communicate and comprehend written and verbal thoughts, ideas,
directions, and information relative to educational and occupational
settings.
Select and utilize appropriate technology in the design and
implementation of teacher-approved projects relevant to occupations
and/or higher educational settings.
Evaluate the following career skills as they relate to employment:
Communication
Organization
Decision making
Goal setting
Resources allocation
Demonstrate teamwork and leadership skills that include student
participation in real world applications of career and technical
education skills.
Mathematics
Problem Solving:
Learn mathematics through problem solving, inquiry, and discovery.
Solve problems that arise in mathematics and in other contexts.
Open-ended problems
Non-routine problems
Problems with multiple solutions
Problems that can be solved in several ways
Select and apply a variety of appropriate problem-solving strategies
to solve problems. Pose problems of various types and levels of
difficulty.
Monitor progress and reflect on the process of their problem solving
activity.
Communication
Use communication to organize and clarify mathematical thinking.
Reading and writing, Discussion, listening, and questioning
Communicate their mathematical thinking coherently and clearly to
peers, teachers, and others, both orally and in writing.
Analyze and evaluate the mathematical thinking and strategies of
others.
Use the language of mathematics to express mathematical ideas
precisely.
Technology
Use technology to gather, analyze, and communicate mathematical
information.
Use computer spreadsheets, software, and graphing utilities to
organize and display quantitative information.
Use graphing calculators and computer software to investigate
properties of functions and their graphs.
Use calculators as problem-solving tools (e.g., to validate
solutions).
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Curriculum Standards
http://education.state.nj.us/cccs |
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9.1 Career and
Technical Education
A. Career
Awareness/Preparation
B. Employability Skills
9.2 Career Education
and Consumer, Family and Life Skills
A. Critical Thinking
B. Self Management
C. Interpersonal
Communication
E. Consumer and Personal
Finance
4.5 Mathematics
A. Problem Solving
B. Communication
D. Reasoning
E. Representation
F. Technology
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11th Grade Students in
groups of four. Teacher will assign groups by color. Click for
information on teams.
Teacher
Reference: Occupation Categories |
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Sequence of
Activities
I.
Individual Activities
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Read
Occupation Choice, and record salary on the Individual Budget.
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Read Budget
Basic Guide
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Calculate
Payroll Deductions
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Read Pie
Chart and calculate your % of expenses
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Complete
Individual Budget
II.
Group Activities
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Using the
Individual Budget, calculate the amount of money the group has to
spend on joint Housing, Transportation, Banking, and Household
Expenses
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Discussion
of issues related to topics and criteria for research: where to
live, kind of transportation, banking and food, TV and phone
III.
Individual Activities
IV.
Group Activities
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Present
information to team
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Discussion
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Evaluation
and Decision making
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Revise
Group Budget
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Create
presentation to the class for evaluation
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Bloom's Taxonomy
Individual
& Group Activities
Remember
- Recall occupation choice
and salary
- Cite the Budget Guide
- Collect and record
information from the internet
Understand
- Interpret information
from Budget Basic Guide
- Estimate the amount of
money the group needs for each category in the group budget
- Discuss the issues
related to topics of research for each role
- Interpret information
from research
- Summarize and present
options to the team for each role
Apply
- Calculate payroll and
percentage of net income according to the Pie Chart
- Modify expenses for
Housing, Transportation, Banking and Household
- Examine and discuss the
options for Group Budget
Analyze
- Break down the
Individual budget into component parts and organize monthly salary
allocations
- Distinguish and see
patterns in overspending
Evaluate
- Make choices for expenses
- Assess criteria for
internet research
- Judge and devise
recommendations for presentation to the group
- Evaluate and decide which
options to choose as a team
Create
- Formulate an
individual budget
- Develop a plan for
research
- Rewrite the budget as
agreed
- Create a PowerPoint
presentation for you class
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Multiple Intelligences
Verbal/Linguistic: Discuss group budget, issues related to
topics and criteria for research
Visual/Spatial: Visualize apartments,
cars, transportation options, imagine household necessities, use of
internet sites and webquest
Intrapersonal: Reflect on personal
choices and values for money allocation on individual budget
Interpersonal: Listen and understand
the other team members point of view and research information
Logical/Mathematical: Calculate
payroll deductions, interpret pie chart, calculate %, balance
individual and group budget, checking, saving account, and credit
card debt and payment schedules, income and expenses
Existential: Seeing themselves in a
possible future context, in a "grown-up" world working at an
occupation with rights and responsibilities. |
Learning Styles
- Concrete Sequential
Structured internet research links provided in the Roles,
gathering facts and details, recording information on checklists,
individual responsibilities and basing decisions on reasoning
- Abstract Sequential
Analyze budgets into parts and use logic and mathematics to
find solutions, evaluation of results, presenting results and
defending choices, decision making process
- Concrete Random
Investigate options in the roles, explore possible solutions,
inventing outcomes sharing their ideas in group, living on their
own concept which directly affects their life
- Abstract Random
Imaginative and emotional focus on topics: home,
transportation, money and future household , use of a variety of
resources, group work and presentation to the team and class
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Sense &
Meaning
Sense
Our students have
lived under their parent’s roof for at least the last seventeen
years. They have seen and heard the typical financial concerns of
their parents, relatives and teachers. In addition they have been
exposed to numerous social and economic conditions that have become
part of their perceived world view. They come to class with some
understanding of the freedom that money will give them. They have
been enrolled in a public or private school setting for the majority
of those years. They have been taught the simple and the complex in
an effort to prepare them to think and make decisions, while
building upon previous facts and circumstances and applying them to
their lives. Subliminal pressures of society, peers, entertainment
and education are preparing them to “leave the nest”.
Meaning
The natural
inclination of our human mind is to wonder and contemplate our own
future, and to dream of a perfect life to come. This exciting
project throws lighter fluid on a glowing ember of desire to go out
and explore, to test all of the facts, ideas and rules that have
regulated these young people until the eleventh grade. The research
that each student uses will cause them to reflect upon what they
have heard and been taught both at home and in the classroom (if by
no other idea than they can’t afford a lot of what they want). The
comparison and similarity of real life expenditures of a rapidly
depleting paycheck, will ring back in their ears the old quotes of;
“You think money grows on trees!” As the student meets together
with his or her team, they will find that they have to justify and
defend their own perceived way that things should be; and
thoughtfully guide and direct their teammates and themselves with
clear application of the researched information to dispute or
justify many of the standards they have lived with in those
seventeen years. |
| Transfer and
Retention
(I.)
Individual Activities in this webquest introduce the budget
through reading information in the guide. In the next Tasks they
interact and apply the information using calculations and the
completion of an Individual Budget. In the II.
Group Activities the students transfer what they learned in
making an individual budget to the discussion of a Group
Budget and evaluate the needs of the Team. They further discuss the
budget and decide on criteria for research. (Long term storage is
activated as it is brought into working memory providing rehearsal
for the information). As they revisit the concepts during
III . Individual Activities while using
the internet for directed research they are bringing new learning
which they then summarize and then share with the Team during the
IV.
Group Activities
where it is revisited during discussion, evaluation and decision
making. Throughout the webquest the students
build networks
of concepts with sense and meaning.
Closure is achieved by the Team as
they determine how to organize and present the Budget information to
the class as a group when they create a PowerPoint. |
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