1. Unit Three Budgeting Students will learn the importance of creating and maintaining a personal budget. Students will create personal budgets and evaluate other budgets through case study analysis. http://www.youtube.com/watch?v=nFY0HBkUm8o

2. Lesson One: Budgets Objectives: Students will explain who uses a budget and why. Identify components of a successful budget.

3. Introduction Nearly everyone wants to earn money, or at least have more money to spend. Yet many people may not take the time to plan how to use their income and make it stretch further. To create a sound financial future, financial planning is critical, and a budget plays an important role in that planning.

4. Copy the definitions into your Word document. Budget- a record of income and spending or a plan for managing money

5. To successfully plan a budget Set short-and long-term goals Figure monthly income Categorize spending Project how much will be spent in each category Follow the budget for a month Adjust the budget as needed, and continue to follow it.

6. Partner Activity Take turn reading aloud sections of “The Role a Budget Plays in Personal Finance” on page 67 of your workbook. Income- money earned from a job or investments Expenses- money paid for needs and wants

7. Whole Group Discussion 1.What is the difference between needs and wants? 2.Identify personal needs and wants. 3.Identify long and short term goals. 4.Create a usable spending plan. 5.Establish savings and investing goals. 6.Understand fixed and variable expenses. 7.Design a realistic budget.

9. Create a Table Create a table in Word to organize the budget categories. Your table should be 15 rows and 2 columns. Fill in the information from the pie graph. PYF- Planning Your Future! CategoryPercentage of Income

10. Whole Group Activity Complete the Case Study on pg. 68-69 of your workbook. You will use an Excel spreadsheet. You type your answers on a Word document.

11. Whole Group Activity Complete What if and Budget on pgs. 70-71. Discuss different What-if scenarios.

12. Summary Remember- budgeting is not only something that individuals do, but something governments, churches, schools, and businesses must be responsible for as well. Does anybody have a question?