Session 1 Warm-Up

Time: 5 minutes
Objective: Define income and expenses using student-generated words or symbols.

Materials:

• Whiteboard with headings “Income” and “Expenses”
• Picture symbols or icons for income and expenses (for non-verbal support)

Steps

1. Greet students and say:
   “Today we’re talking about money coming in and money going out.”
2. Point to the “Income” heading on the board and ask:
   “What does ‘income’ mean?”
   • Offer picture symbols and allow gestures or single words for non-verbal learners.

Write your definition of income below:

1. Point to the “Expenses” heading and ask:
   “What does ‘expense’ mean?”
   • Use visuals, timers, or one-on-one prompting as needed.

Write your definition of expense below:

1. Invite 2–3 volunteers to share their definitions aloud or via picture cards.
2. Confirm correct concepts before transitioning to the sorting activity.

Session 1 Sorting Activity

Time: 10 minutes
Objective: Reinforce the difference between income and expenses by sorting real-life examples.

Materials:

• Income vs Expenses Sort Cards
• Whiteboard or table mats labeled “Income” and “Expenses”
• Visual timers, picture cues, and one-on-one support as needed

Steps

1. Set Up (1 minute)
   • Ensure the headings “Income” and “Expenses” are displayed clearly on the board or on separate mats.
   • Remind students of the definitions from the warm-up.
2. Model Sorting (1 minute)
   • Show one sort card (e.g., “Salary”) and ask:
   “Does this belong under Income or Expenses?”
   • Place it under the correct heading and explain your thinking.
3. Partner Sorting (6 minutes)
   • Distribute the remaining sort cards evenly to each pair or small group.
   • Students take turns reading (or using picture symbols) and placing each card under the correct heading.
   • Use visual timers (e.g., 3-minute sand timer) for pacing.
   • Provide one-on-one support, picture cues, or simplified language prompts based on individual IEPs and 504 plans.
4. Self-Check & Adjustment (1 minute)
   • After sorting, each group compares their placements with a second group.
   • Encourage groups to discuss and negotiate any disagreements, using the key definitions.
5. Transition to Wrap-Up
   • Collect cards and prepare for the whole-group review in the Wrap-Up Discussion.

Differentiation Tips:

• For non-verbal learners, allow pointing or moving cards on a floor mat.
• For students who need extra processing time, offer pre-sorting practice with 2–3 cards first.
• Use colored borders on sort cards (e.g., green for income, red for expenses) as a visual scaffold.

Session 1 Income and Expenses Worksheet

Objective: Identify and apply the concepts of income and expenses using personal examples and real-life scenarios.

1. Define the Terms

a. In your own words, what does income mean?

b. In your own words, what does expense mean?

2. Your Examples

a. List three examples of income you have received or could receive.

1. ___________________________
   
   
2. ___________________________
   
   
3. ___________________________
   
   

b. List three examples of expenses you pay or could pay.

1. ___________________________
   
   
2. ___________________________
   
   
3. ___________________________
   
   

3. Identify: Income or Expense?

Read each scenario below. Write Income if money is coming in or Expense if money is going out.

1. You mow your neighbor’s lawn and they pay you $10.
   
   Answer: ___________________________
   
   
2. You buy a sandwich for lunch for $5.
   
   Answer: ___________________________
   
   
3. Your cousin gives you $20 for your birthday.
   
   Answer: ___________________________
   
   
4. You pay $15 to ride the bus to work.
   
   Answer: ___________________________
   
   

4. Reflection

Why is it important to know the difference between income and expenses when you make a budget?

Materials:

• Income vs Expenses Sort Cards
• Income and Expenses Answer Key

Session 1 Answer Key

1. Sorting Activity: Income vs. Expenses Sort Cards

Below are the sort‐card items and where they belong.

Income (Money Coming In)

• Salary (payment for work)
• Allowance from parents or guardians
• Birthday gift or cash gift from family/friends
• Selling old books or items online (you receive money)

Expenses (Money Going Out)

• Groceries (buying food at the store)
• Bus fare (paying to ride the bus)
• Cell phone bill (monthly service cost)
• Rent (monthly housing payment)

Teacher Notes (Step-by-Step):

1. Show each card and ask: “Are we getting money or spending money?”
2. Place card under the correct heading and explain:
   • If it’s money you earn or receive → Income
   • If it’s money you pay or spend → Expense
3. Provide visual cues (green border for Income, red for Expenses) for reinforcement.

2. Worksheet Answers

2.1 Define the Terms

a. Income: Money you receive or earn (for work, gifts, allowance).

b. Expense: Money you spend or pay out (for things you buy or services you use).

2.2 Your Examples (Sample Answers)

a. Three examples of income you could receive:
• Allowance from parents
• Payment for mowing a lawn
• Birthday or holiday gift money

b. Three examples of expenses you might pay:
• Buying lunch or groceries
• Paying bus fare
• Cell phone bill

(Accept any reasonable personal examples.)

2.3 Identify: Income or Expense?

1. You mow your neighbor’s lawn and they pay you $10.
   Answer: Income
   Reasoning: You received $10 for work you did.
   
   
2. You buy a sandwich for lunch for $5.
   Answer: Expense
   Reasoning: You spent $5 to purchase food.
   
   
3. Your cousin gives you $20 for your birthday.
   Answer: Income
   Reasoning: You received $20 as a gift.
   
   
4. You pay $15 to ride the bus to work.
   Answer: Expense
   Reasoning: You spent $15 on transportation.
   
   

2.4 Reflection (Sample Response)

Why is it important to know the difference between income and expenses when you make a budget?






Key Points to Look For:

• Knowing income tells you how much money you have available.
• Tracking expenses helps you avoid spending more than you earn.
• Understanding both helps you save money, plan for bills, and reach financial goals.

Materials Referenced:

• Income vs Expenses Sort Cards
• Session 1 Income and Expenses Worksheet

Session 2 Expense Tracking Worksheet

Objective: Track and record your personal expenses to build awareness of your spending habits.

1. Record Your Expenses

Complete the table below using real or imagined expenses.

2. Calculate Total Spent

Add up the amounts you recorded above.
Total Spent: $__________________

3. Reflection

Why is it helpful to write down your expenses?

4. Savings Goal

Refer to the Saving Goals Chart. Think of one thing you want to save for and plan how to reach it.

What I want to save for: _____________________________


Cost: $


By when I want to save: _____________________________



How much do I need to save each week? $

Materials:

• Coin Sorting Cards
• Saving Goals Chart
• Pencils and real or play coins

Session 2 Coin Sorting Cards

Objective: Provide visual sorting cards that help students match real or play coins to the correct coin type and value.

Materials for Cards

• Print 2–3 copies of each card on cardstock and cut apart.
• Laminate for durability if possible.

Card Layout (Each Card Shows):

Note: Replace [Coin Image] with actual pictures or clip-art of each coin.

Preparation Steps

1. Download or design images of each coin showing front face.
2. Place each image, name, and value on a 4"×6" card template.
3. Print 2–3 duplicates of each card on cardstock.
4. Cut cards apart and (optional) laminate.
5. Organize cards and real or play coins at each sorting station.

Usage in "Coin Sorting Activity"

1. Lay out one set of each card on the table at student stations.
2. Provide a pile of mixed coins (real or play) beside the cards.
3. Instruct students to pick a coin, identify its type by name and value, then place it on the matching card.
4. After sorting, count how many of each coin type you have and record totals on the Saving Goals Chart or on your worksheet.
5. Offer one-on-one support or picture cues if students need help recognizing coin features.

Differentiation:

• For non-verbal learners, allow students to point or place coins rather than speak.
• Use colored borders on cards (e.g., copper for pennies, silver for others) to cue coin metal.
• Provide a visual value chart (1¢, 5¢, 10¢, 25¢) near stations for reference.

Materials to Gather:

• Printed Coin Sorting Cards
• Real or Play Coins
• Saving Goals Chart
• Visual Timer (for timed sorting rounds)

Session 2 Saving Goals Chart

Objective: Visual tracker to set, plan, and monitor your savings goal.

1. My Savings Goal

What I want to save for: _____________________________


Total Cost: $


By when I want to save: _____________________________


Amount I need to save each week: $

2. Progress Tracker

Color in one box for each $1 (or each savings installment) you put aside toward your goal.

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]
[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]

Use stickers, color, or check marks as you save.

Tips:

• Decide on the weekly amount and color one box each week.
• Review your progress at the end of each session.
• Adjust weekly savings if you need to reach your goal on time.

Session 2 Answer Key

This key provides sample entries and step-by-step guidance for grading the Expense Tracking Worksheet, the Coin Sorting Cards activity, and the Saving Goals Chart.

1. Expense Tracking Worksheet

1.1 Sample Table Entries

Accept any reasonable combination of dates, items, and categories.

1.2 Calculate Total Spent

• Add the amounts: 5.00 + 2.50 + 1.50 = $9.00
• Total Spent: $9.00

Teacher Notes

1. Verify students have correctly added their entries.
2. Check that each item is placed in a logical category (Food, Transport, Other).
3. For students who struggle with addition, allow use of a number line or calculator.

2. Reflection

Prompt: Why is it helpful to write down your expenses?

Sample Responses (Key Points)

• Writing expenses down helps me see where my money goes.
• It reminds me of what I spent so I don’t overspend.
• Tracking spending helps me plan and save for things I want.

Accept any answer that mentions tracking, awareness, planning, or preventing overspending.

3. Savings Goal (Using Saving Goals Chart)

Prompt: What you want to save for, cost, timeline, and weekly savings amount.

Sample Goal

• What I want to save for: Headphones
• Total Cost: $30
• By When: 4 weeks from now
• Weekly Savings Needed: $30 ÷ 4 = $7.50 per week

Teacher Notes

1. Confirm the goal is realistic and the timeline makes sense.
2. Check the division: total cost ÷ number of weeks = weekly savings.
3. If students choose different timeframes, accept correct recalculations.

4. Coin Sorting Activity

Materials: Coin Sorting Cards and real/play coins.

Sample Sorting & Counting

Step-by-Step Teacher Guide

1. Identify Coins: Students pick up each coin, name it, and recall its value using the card.
2. Sort & Count: Students place like coins together and count how many of each type.
3. Multiply & Record: Count × value → write subtotals on chart or worksheet.
4. Sum Totals: Add all subtotals to find the grand total saved.
5. Check Work: Use a calculator or peer-check to confirm accuracy.

Accept any correct counts and calculations based on the coins each group sorted.

Materials Referenced:

• Session 2 Expense Tracking Worksheet
• Session 2 Coin Sorting Cards
• Session 2 Saving Goals Chart

Session 3 Personal Budget Worksheet

Name: ____________________________ Date: _______________

Objective: Use your income, expense, and savings information to create a balanced monthly budget.

1. Monthly Income

List all sources of income you receive each month and the amount.

Total Monthly Income: $__________________

2. Fixed Expenses

These are expenses you pay every month (rent, utilities, subscriptions).

Total Fixed Expenses: $__________________

3. Variable Expenses

These costs can change each month (food, transport, entertainment).

Total Variable Expenses: $__________________

4. Savings Goal

Decide on one savings goal for this month and plan how much to set aside.

What I want to save for: ______________


Total Goal Amount: $ By (month/year): ___________


Amount to Save Each Month: $_____________

5. Budget Summary

Calculate your overall budget status.

• Total Income: $__________________
  
• Total Expenses (Fixed + Variable): $__________________
  
• Monthly Savings Amount: $__________________
  
• Amount Remaining (Income – Expenses – Savings): $__________________
  
  
  

6. Reflection & Adjustments

If your expenses and savings exceed your income, what changes can you make?
(e.g., reduce a variable expense, adjust saving amount, find additional income)

Materials:

• Session 3 Budget Project Guidelines
• Session 3 Answer Key

Session 3 Budget Project Guidelines

Objective: Guide students to create, finalize, and present a personalized monthly budget project using clear visuals, calculations, and a savings plan.

Materials Needed

• Session 3 Personal Budget Worksheet
• Calculator or Number Line
• Pencils, Markers, or Colored Pencils
• Large Poster Paper or Chart Paper (optional)
• Ruler or Straightedge
• Picture Icons or Clip Art (for non-verbal support)

Project Steps

1. Review Your Worksheet (1 minute)
   • Look over your completed personal budget worksheet.
   • Check that you have entered all income sources, fixed and variable expenses, and a monthly savings goal.
2. Plan Your Presentation Format (1 minute)
   • Decide how you will share your budget:
   • On your worksheet alone
   • On a poster/chart with visuals
   • Using a digital slide (if available)
     • For non-verbal learners, choose picture icons or symbols to represent each category.
3. Create Your Budget Display (3 minutes)
   • If using poster paper:
   • Draw a simple table or sections for Income, Fixed Expenses, Variable Expenses, and Savings.
   • Write or glue printed labels for each category.
   • Use colored markers or borders to highlight totals.
     • If using worksheet only:
   • Add picture icons next to each line item for clarity.
   • Circle or box key numbers (totals and remaining balance).
4. Check for Balance (1 minute)
   • Verify: Total Income = Total Expenses + Savings + Remaining Balance (should be $0 or positive).
   • If expenses + savings exceed income, decide one adjustment:
   • Reduce a variable expense (e.g., entertainment).
   • Lower your savings amount or extend timeline.
   • Add a small extra income source (e.g., odd jobs).
5. Practice Your Presentation (1 minute)
   • Rehearse explaining one item from each category.
   • Use picture cards or point to sections for non-verbal sharing.
   • Speak in short phrases or use single-word labels if helpful.
6. Share with the Group (3 minutes)
   • Volunteer or be selected to show your budget to classmates.
   • Point out:
   • One income source
   • One expense (fixed or variable)
   • Your savings goal and how much you set aside
     • Answer one question from a peer or teacher (verbal or non-verbal response).

Assessment Criteria (Rubric)

Use this rubric to give feedback and celebrate successes.

Differentiation Tips:

• Provide cut-out icons or sentence strips for students who need simpler writing tasks.
• Allow non-verbal students to point or arrange visuals instead of speaking.
• Use color-coding: green for income, red for expenses, blue for savings.
• Offer extra time or a scribe for students with fine-motor or writing challenges.

Celebrate Completion!
Congratulate each student on designing a budget they can use in real life. Encourage them to keep their budget and update it monthly.

Session 3 Answer Key

This key provides sample budget entries, calculations, and guidance for evaluating the Session 3 Personal Budget Worksheet and the project presentation, using the rubric from the Session 3 Budget Project Guidelines.

1. Sample Personal Budget Worksheet Entries

1.1 Monthly Income

1.2 Fixed Expenses

1.3 Variable Expenses

1.4 Savings Goal

• What I want to save for: New laptop
• Total Goal Amount: $300
• By (month/year): 3 months from now
• Amount to Save Each Month: $300 ÷ 3 = $100

1.5 Budget Summary

• Total Income: $850
• Total Expenses (Fixed + Variable): $490 + $240 = $730
• Monthly Savings Amount: $100
• Amount Remaining (Income – Expenses – Savings): 850 – 730 – 100 = $20

1.6 Reflection & Adjustments

Prompt: If expenses + savings exceed income, what changes can you make?
Sample Response:
• Reduce a variable expense (e.g., lower entertainment from $30 to $20).
• Extend the savings timeline (save $75 per month over 4 months instead of $100 for 3 months).
• Find an extra income source (e.g., odd jobs).

Accept any realistic adjustment that brings total spending and savings within monthly income.

2. Teacher Guidance & Grading Notes

Use the rubric in the Session 3 Budget Project Guidelines to assess each category:

1. Income Listed
   • Meets: All realistic income sources are entered and summed correctly.
   • Support: Missing entries or incorrect addition.
2. Expenses Categorized
   • Meets: Fixed and variable expenses are clearly separated and totaled correctly.
   • Support: Mis‐categorized items or calculation errors.
3. Savings Plan
   • Meets: Goal amount, timeline, and monthly savings calculation are accurate.
   • Support: Timeline unclear or incorrect division.
4. Budget Balance
   • Meets: Total Income ≥ Expenses + Savings and remaining balance is ≥ $0.
   • Support: Expenses + Savings exceed income without a reasonable adjustment.
5. Presentation Clarity
   • Meets: Uses visuals (icons, colors) and clear labels; student explains key numbers.
   • Support: Labels unclear or student cannot point out income/expense/savings.

Step‐by‐Step Checking Process

1. Verify each row’s arithmetic (addition, subtraction, division for savings).
2. Confirm expenses are in the correct category and totals match worksheet entries.
3. Ensure the savings goal calculation matches the timeline.
4. Check that Remaining Balance ≥ $0; if negative, look for a student‐proposed adjustment.
5. During presentations, note if the student can point to and explain one income source, one expense, and the savings plan (verbally or non‐verbally).

Provide specific feedback, celebrate strengths (e.g., clear visuals), and offer guided support where needed.