Confessions of a Shopaholic

Slides:



Advertisements
Similar presentations
What is Budgeting? IncomeExpensesSavings.  What is Income? Where does it come from?  What are some sources of Income?  Things to consider…  Federal.
Advertisements

Plus1: Organization Week 8 Cornell Notes II Christopherson.
10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.
Managing Your Money Using a Budget By Eleonore Marino.
why we might lend and borrow money about some of the possible risks when lending and borrowing money.
FACTORY SHOALS MIDDLE SCHOOL MR. L. SMITH. Agenda Message Agenda Message: Bring calculators to class everyday for this unit. Standard: Standard: Explain.
Finance Top Tips. Create a budget but be realistic. Don’t budget that you will use less money if you know you are likely to need more. If you do this.
If You Made a Million How does money work? Day 1 Grammar 1.Hannah dreemed she had one hundred dollar 2.Nick and I took our pennys to the bank 1.Hannah.
Budgeting 101 Many Americans do not know how to manage their money to keep themselves out of debt, let alone to save money. Budgeting can help!
Income, expenses and budget
Personal Finance and Resource Management Objective 2.01
Money in Your Life Advanced Level.
Creating a Personal Budget
Rocks Webquest By Hannah.
Financial Success and Debt
Budgeting, Saving and Spending
Ten Money Saving Tips For Teenagers
Avoiding Unpleasant Surprises.
Spending Plans Advanced Level.
Relationships – Managing Conflict
Budgeting for new Pet Gr. 2 Financial Literacy
Spending Plans Advanced Level.
“Take Charge of Your Finances” Advanced Level
Answer the questions below in your own words.
Spending Plans Advanced Level.
Mathematics Lesson 1: Money, Money, Money
Budgeting for Beginners
Hi I’m Heather Strange and I’m part of Financially Fit Ospreys, which is an organization of students, staff and faculty who come together to host events.
Managing your Personal Finances
Skills for a Healthy Life
Spending plan Essentials
Lesson 14.1 The Money You Earn 2/10
Spending Plans Advanced Level.
Financial Planning.
Money in Your Life Advanced Level.
Financial Planning pt. 1.
High School Financial Planning Program
Keeping track of spending and saving
Spending Plans Advanced Level.
How Much does A Penny Doubled Every day for a Month End up Being?
High School Financial Planning Program
Budgeting basics & how to get started!
End of Class Reflection
Spending Plans Advanced Level.
January 14, 2013 Make a list of all the money you spent last month.
Spending Plans Advanced Level.
Spending Plans Advanced Level.
Spending Plans Advanced Level.
Spending Plans Brown Family Lesson.
Introduction to Spending Plans!
Spending Plans Advanced Level.
Spending Plans Advanced Level.
Date Task Review Week commencing
Spending Plans Advanced Level.
Opportunity cost Make the right choice.
Spending Plans Advanced Level.
What is Economics?.
L.O. To share stories about our lives that build up a deeper picture of identity and diversity within our class TLN Identity Pack L3.
What is Economics?.
Spending Plans Advanced Level.
Spending Plans Advanced Level.
Name_____________ Date:_____________
“Take Charge of Your Finances” Advanced Level
Planning for the Future:
1 - Representing money amounts in different ways.
For years, Alex struggled with making healthy lifestyle changes
Spending Plans Advanced Level.
Spending Plans Advanced Level.
Steps to Achieving Work-Life Balance
Mistakes in writing a research paper
Presentation transcript:

Confessions of a Shopaholic Show students the trailer to the film ‘Confessions of a Shopaholic’ – ask them what her attitude to money is like. Based on the trailer, what might we be discussing this lesson? https://www.youtube.com/watch?v=ZYYCSEV-i1Y

Budgeting Learning Objective: To explore how to manage your money. I can reflect on my money personality. I can create a budget based on income and expenditure. I can evaluate what I should spend and what I should save.

Money Personality Quiz Ask students to write the numbers 1-10 in the margin of their book. They will need to write down either A, B or C to each question.

Money Personality Quiz

Money Personality Quiz

Money Personality Quiz Score Add up your total score!

Money Personality Quiz Score Ask students why they think they got their score. E.g. what healthy money habits do they think they have? What unhealthy money habits do they need to change? Link back to the trailer from the beginning of the lesson – what do you think she would have scored on the quiz? What do you think Bex would have scored on this money personality quiz?

Money Personality Quiz Score Before students move onto the budgeting exercise they need to recognise what makes healthy and unhealthy money habits.

Budgeting Learning Objective: To explore how to manage your money. I can reflect on my money personality. I can create a budget based on income and expenditure. I can evaluate what I should spend and what I should save.

Budgeting It is important to create a personal budget for yourself so you can stay in control of your money and plan how you will spend or save. A budget identifies all of the ways money flows into and out of someone’s life over a period or time. Budgets will therefore change over time as people’s circumstances change. A budget should: Be comprehensive – it should include every way you receive or spend money Be honest – include everything Be accurate - don’t forget anything Be stored somewhere private – create columns in a notebook or a spreadsheet but make sure they are not accessible to anyone else Be used – you need to keep returning to your budget to check you are on track

Budgeting Read the information about Chris and Jo’s income and expenditure. Use the table provided to complete a budget for them. Students can complete this in pairs. You may wish to complete the first table together as a class.

Can you make any suggestions as to what Jo and Chris should change? Budgeting Chris Jo Go through the answers and discuss the three questions as a class. What tips do you have for Jo to help her achieve her goal of saving for a smart phone? Can you make any suggestions as to what Jo and Chris should change? Are there any items of spending you think have been missed out from the descriptions?

Create your own budget As you’ve seen a budget helps you work out if you are spending more than you earn and plan for how you are going to spend or save your money. Create your own budget: Choose a period of time your budget needs to cover, e.g. a week or a month List all of the ways you earn or gain money and how much this it is. Don’t include gifts such as birthday money as you don’t get this all the time. Add these up to get a total income. List all of the ways you spend money, e.g. transport, phone, going out, clothes. Add these up to get a total expenditure. Some students may feel uncomfortable completing a budget if families struggle with money. If this is the case ask them to work with imaginary numbers, e.g. income is £15 a month pocket money and £40 from a paper round.

Your budget Does one side add up to more than the other? Do both sides add up to the same amount? Does anything need to change in your spending habits? What will you do with any leftover money? Class discussion around these questions – lead into the idea of saving.

Budgeting Learning Objective: To explore how to manage your money. I can reflect on my money personality. I can create a budget based on income and expenditure. I can evaluate what I should spend and what I should save.

Michelle McGagh spent nothing for 1 year and saved £22,000. Spend or Save? Michelle McGagh spent nothing for 1 year and saved £22,000. Michlle McGagh heard about ‘Buy Nothing Day’ which takes place on Black Friday – a day where millions are spent on consumer items. She then challenged herself to a ‘Buy Nothing Year’ to see if she could reset her relationship with money as she struggled sticking to her budget plans. The article is fairly lengthy so you might want to read it together as a class then give students time to discuss the questions at the bottom. Read the article about her year of spending nothing!

Budgeting Learning Objective: To explore how to manage your money. I can reflect on my money personality. I can create a budget based on income and expenditure. I can evaluate what I should spend and what I should save.