A Personal Finance Project Budget O’Rama A Personal Finance Project

Needs Assessment Personal Finance domain in the Georgia Performance Standards contains six standards, each with 4 – 6 specific elements. Teachers struggle to facilitate all that students must learn given time constraints. Students have a difficult time grasping the relevance when the info is conveyed in a traditional style.

Objectives of the Lesson Personal Finance Economics- GPS SSEPF1 The student will apply rational decision making to personal spending and saving choices. SSEPF2 The student will explain that banks and other financial institutions are businesses that channel funds from savers to investors. SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices. SSEPF4 The student will evaluate the costs and benefits of using credit. SSEPF5 The student will describe how insurance and other risk-management strategies protect against financial loss.

Implementing the Lesson Based on their birthdays, students are assigned a modest income. January February March April May June Even Date $38,000 $38, 300 $38, 600 $38,900 $39,200 $39,500 Odd Date $39,800 $40,100 $40,400 $40,700 $41,000 $41,300 July August September October November December $41,600 $41,900 $42,200 $42,500 $42,800 $43,100 Odd Date $43,400 $43,700 $44,000 $44,300 $44,600 $44,900

Real – World Task Sheet 1) Discover Net Income after Taxes 7) Locate and Record Insurance Costs for various 2) Invest 10% in a Public Stock and recognize the Strengths and Weaknesses of other investment options 8) Determine detailed weekly food requirements 3) Locate and determine housing costs 9) Determine entertainment expenditures 4) Determine Utility Bill 10) Determine clothing expenditures 5) Find an Auto and determine financing expenses 11) Assess miscellaneous expenses 6) Determine monthly gas needs 12) Include Student Loan repayment

Progressive Taxes and Net Income

Investments

Tracking a Stock

Housing and Utilities

Auto and Gas Expenses

Discussion Forum

E-Learn Quiz Assessment

Student Response

Bonus: Xtranormal Video

Final Assessment