Federal Reserve Bank of San Francisco: Personal Finance
Example Web Site and/or Technical Equipment Required
Website Example: https://www.frbsf.org/education/personal-finance.html
Tech Product Equipment
Computer(s), Internet access, projector (for class presentation)
In this activity, students are introduced to the connection between education attainment and earning potential. Students participate in a classroom activity where they develop a budget according to a given scenario.
- Review the detailed Lesson Plans.
- Make copies of Budget Worksheet and Discussion Questions
- Make color copies of Budget Cards.
- Gather materials for each group
- Make a transparency or in some other way project Visual #1 chart.
- Introduce the lesson and budget activity.
- Distribute Handout #1 “Budget Sheet,” Handout #2 “Budget Card,” (make sure that each student only receives one budget card scenario; there are four per handout sheet) and 3x5 cards.
- Discuss the questions about budget, expense, and income.
- Have students read Handout #2 “budget playing card” , front and back.
- Divide students into 4 groups. The group will be the color of the budget card.
- Ask students to individually calculate the monthly budget by using the data on the budget card and to record the answers on the budget sheet.
- Display visual aid # 1: “team budget” on an overhead in front of the class.
- Ask for a volunteer from each group to come to the front of the room to record their answers onto visual aid #1.
- Discuss the results.
- Ask a volunteer from each group to state their level of education and record on the budget display.
- Ask the students to take their 3x5 card out and write a summary statement answering the following question: Why do people create budgets?
- Ask a few students to share their answers. Lead the students to conclude that a budget gives you control over your money.
- State the following: We will now read a Dr. Econ question that further discusses the link between education level and salary.
- Distribute to each student one copy of “Dr. Econ: What is the importance of developing job skills?” and handout #3: “Discussion Questions.”
- Allow students 10-15 minutes to complete the assignment.
Be sure to check out other teacher resources at http://www.frbsf.org/education/teacher-resources
Select subjects and subcategories
- Social Studies Electives