Lesson Plan: Money Management

Objective: Students will understand the importance of money management and develop basic skills for budgeting, saving, and spending wisely.

Grade Level: 4th-6th grade

Duration: 2-3 class periods

Materials: - Whiteboard or blackboard - Markers or chalk - Computer with internet access - Projector or smartboard (optional) - Worksheets (links provided below) - Pencils or pens

Lesson 1: Introduction to Money Management

1. Warm-up Activity (10 minutes):
   • Begin the lesson by asking students about their understanding of money and its uses.
   • Discuss the importance of money management and why it is essential to learn how to handle money wisely.
2. Introduction to Basic Money Concepts (15 minutes):
   • Introduce key money concepts such as income, expenses, budgeting, saving, and spending.
   • Use the whiteboard or blackboard to write down and explain each concept.
   • Encourage students to share examples from their own lives to reinforce understanding.
3. Video Resource: “Money Management for Kids” (10 minutes):
   • Show the video: https://www.youtube.com/watch?v=3NjNxVpPbZw
   • After watching, facilitate a brief discussion about the key points covered in the video.
4. Worksheet Activity: “Money Vocabulary” (15 minutes):
   • Distribute the worksheet: [Link to worksheet: https://www.moneyinstructor.com/wsp/pdf/moneyvocab.pdf]
   • Instruct students to complete the worksheet individually or in pairs.
   • Review the answers as a class to ensure understanding.

Lesson 2: Budgeting and Saving

1. Review of Money Concepts (10 minutes):
   • Begin the lesson by briefly reviewing the money concepts covered in the previous lesson.
2. Introduction to Budgeting (15 minutes):
   • Explain the concept of budgeting and its importance in managing money effectively.
   • Discuss the different categories of expenses (e.g., needs vs. wants) and the concept of prioritizing spending.
3. Video Resource: “Budgeting for Kids” (10 minutes):
   • Show the video: https://www.youtube.com/watch?v=3NjNxVpPbZw
   • After watching, facilitate a brief discussion about the key points covered in the video.
4. Worksheet Activity: “Creating a Budget” (20 minutes):
   • Distribute the worksheet: [Link to worksheet: https://www.moneyinstructor.com/wsp/pdf/creatingabudget.pdf]
   • Instruct students to work individually or in pairs to create a simple budget based on a given scenario.
   • Review the answers as a class and discuss the importance of making informed spending decisions.

Lesson 3: Spending Wisely

1. Review of Budgeting and Saving (10 minutes):
   • Begin the lesson by briefly reviewing the concepts of budgeting and saving covered in the previous lesson.
2. Introduction to Spending Wisely (15 minutes):
   • Discuss the importance of making informed spending decisions and avoiding impulsive purchases.
   • Explain the concept of needs vs. wants and the benefits of saving money for future goals.
3. Video Resource: “Spending Wisely” (10 minutes):
   • Show the video: https://www.youtube.com/watch?v=3NjNxVpPbZw
   • After watching, facilitate a brief discussion about the key points covered in the video.
4. Worksheet Activity: “Smart Shopping” (20 minutes):
   • Distribute the worksheet: [Link to worksheet: https://www.moneyinstructor.com/wsp/pdf/smartshopping.pdf]
   • Instruct students to work individually or in pairs to answer the questions and solve the scenarios.
   • Review the answers as a class and discuss strategies for making smart shopping choices.

Extension Activities (Optional): - Invite a guest speaker from a local bank or financial institution to talk about money management. - Assign a project where students create a budget for a specific scenario (e.g., planning a family vacation).

Note: The provided video link is a placeholder. You can search for age-appropriate videos on money management for kids on platforms like YouTube or educational websites.

Worksheet resources: 1. Money Vocabulary: https://www.moneyinstructor.com/wsp/pdf/moneyvocab.pdf 2. Creating a Budget: https://www.moneyinstructor.com/wsp/pdf/creatingabudget.pdf 3. Smart Shopping: https://www.moneyinstructor.com/wsp/pdf/smartshopping.pdf