We will explore the parts of money management (budgeting, saving, spending, and banking)
so I can understand the basic skills needed to manage my own money
to make smarter decisions in my daily life
by identifying real-life examples of money choices I already make.
We will explore the parts of money management (budgeting, saving, spending, and banking)
so I can understand the basic skills needed to manage my own money
to make smarter decisions in my daily life
by identifying real-life examples of money choices I already make.
Students discuss everyday examples of spending, earning, and saving they already experience.
Key Vocabulary
- Money management β making smart choices with money
- Income β money coming in
- Expenses β money going out
- Budget β a plan for how to use money
1. What is Money Management?
Money management is the process of planning how to use money wisely.
2. Why Money Management Matters
Money management helps people pay bills, save for needs, avoid debt, and reduce stress.
Jordan gets $50 each week from work. Jordan buys snacks every day and runs out of money before the weekend. Jordan wants to save for new shoes but keeps spending too much.
*Students discuss how money management could help Jordan.*
Students list 3β5 examples of money choices they make each week.
Students categorize items as needs or wants using sample pictures or words.
Exit Ticket:
- What is money management?
- Name one reason money management is important.
- Give one real example of a money choice you make.
π Teacher Lesson Plan (Printable)
Lesson: Topic Introduction β What Is Money Management?
Time: 50 minutes
Purpose
We will explore the parts of money management so I can understand the basic skills needed to manage my own money to make smarter decisions in my daily life by identifying real-life examples of money choices I already make.
Materials
- Whiteboard or projector
- Income/expense cards
- Needs vs. wants cards
PISPA Outline
P β Purpose: Review the lesson goal using the "We will / so I can / to / by" format.
I β Introduction:
- Discuss everyday money decisions.
- Introduce vocabulary.
S β Study:
- Define money management.
- Discuss why it matters.
- Review the Jordan scenario.
P β Practice:
- Activity A: Identify personal money choices.
- Activity B: Needs vs. Wants.
A β Assessment:
- Exit questions
- Optional H5P check