Teacher Script: Show Me The Money!

Warm-Up: Money Talk (15 minutes)

(Teacher): "Good morning/afternoon, everyone! Take a look at the question on the board: 'What does 'money management' mean to you?' Think about it for a moment. What comes to mind when you hear 'money management'? How do you use money, or see it being used, in your daily life? Don't worry about perfect answers, just share your initial thoughts."

(Allow students to think and then call on a few to share. Validate all responses and use them to build a foundation.)

(Teacher): "Those are all great points! Money management is about making smart choices with the money we have – how we earn it, how we spend it, and how we save it. It's a really important life skill that helps us reach our goals and feel secure. Today, we're going to dive into some key parts of money management."

Introduction to Money Management (25 minutes)

(Teacher): "Let's open up our Money Management Slide Deck to slide 2. As you can see, we'll be covering three main areas today: Budgeting, Saving, and Banking."

"Think of it this way: Budgeting is like making a map for your money. It shows you where your money comes from and where it's going. Saving is putting money aside for things you want or need in the future. And Banking is about using services like bank accounts to keep your money safe and help you manage it."

"Why do you think these skills are so important, especially as you get older and start becoming more independent?"

(Facilitate a brief discussion, reinforcing that these skills lead to independence, less stress, and achieving personal goals.)

Budgeting Basics Activity (45 minutes)

(Teacher): "Alright, let's start with budgeting. Go to slide 3 in our Money Management Slide Deck. A budget is simply a plan for your money. It helps you understand your income – the money coming in, like from a job – and your expenses – the money going out, like for things you buy."

"Let's brainstorm a bit. What are some ways people earn income? What are some things you or your family spend money on regularly?"

(List student suggestions on the board for income and expenses.)

(Teacher): "Now, let's look at slide 4. Expenses can be split into two types: Fixed Expenses and Variable Expenses."

"Fixed expenses are things that usually cost the same amount every time, like rent or a phone bill. They're predictable. Variable expenses are costs that can change, like how much you spend on groceries each week, or how much you spend on entertainment."

"I'm going to hand out the Budgeting Basics Worksheet. We'll work through the first part together. This worksheet will help you create a simple budget. You'll see a hypothetical income and then some typical expenses. Your job is to estimate how much you might spend in each category. Remember, we want your expenses to be equal to or less than your income! If your expenses are too high, what might you need to do?"

(Guide students through the worksheet, offering support and examples. Emphasize that budgeting often requires making choices and adjustments.)

Saving Strategies (30 minutes)

(Teacher): "Next up is saving! Turn to slide 5 in your Money Management Slide Deck. Saving means putting money aside for future use. Why do we save? What are some things you might want to save money for, either in the near future or further down the road?"

(Allow students to share their personal saving goals.)

(Teacher): "Saving isn't just for big things, it's also for unexpected events, like if your phone breaks or you get sick and need medicine. That's called an emergency fund."

"Now, let's look at slide 6 and I'll hand out the Saving Strategies Handout. There are smart ways to save. We'll go through these together. Which of these strategies do you think would be easiest for you to try? Which might be the most challenging?"

(Discuss each strategy on the handout, providing examples and asking for student input.)

Understanding Banking (30 minutes)

(Teacher): "So, we know about budgeting and saving. Where do we keep our money safe? Banks! Look at slide 7 in the Money Management Slide Deck. Banks are like financial partners that help us manage our money."

"The two most common accounts are a checking account and a savings account. A checking account is for your everyday money – paying bills, using your debit card. A savings account is where you put money you want to save, and it often earns a little bit extra money, called interest."

"What's a debit card? It's a card linked directly to your checking account. When you use it, the money comes right out of your account. It's important to keep track of how much you spend with your debit card so you don't overdraw your account."

(Teacher): "Now, let's look at slide 8 and I'll give you the Banking Basics Reading. Modern banking also involves online banking, where you can manage your money from a computer or phone. This is super convenient, but it also means we need to be smart about financial safety. What do you think are some ways we can keep our money and information safe when banking online or using our cards?"

(Discuss strong passwords, not sharing PINs, being careful on public Wi-Fi, etc. Review the reading together, pausing for questions.)

Project Introduction: Budgeting Life Project (15 minutes)

(Teacher): "You've learned a lot today about budgeting, saving, and banking. Now it's time to put all those skills into action with our Budgeting Life Project!"

"Turn to slide 9 in our Money Management Slide Deck. For this project, you're going to imagine you're a 25-year-old with your first full-time job. You'll get a specific monthly income, and then you'll need to research and estimate your own expenses to create a realistic budget and saving plan."

"I'm also handing out the Project Rubric. This rubric shows you exactly how you'll be graded for this project. We'll review it together right now to make sure everyone understands the expectations."

(Go through the rubric point by point, clarifying any questions students might have.)

Work Time / Q&A (15 minutes)

(Teacher): "You can now start working on your Budgeting Life Project. Use the remaining time to read through the project guide, start researching your expenses, or ask any questions you have. I'll be walking around to help anyone who needs it. Remember, this project is designed to help you practice real-world money skills!"

(Circulate and provide individual assistance.)

Cool-Down: One Smart Money Move (5 minutes)

(Teacher): "Alright everyone, let's bring it back together for our cool-down. On a piece of paper or in your notebook, I want you to write down one new money management tip or concept you learned today that you found interesting or useful. It could be about budgeting, saving, or banking."

(Give students a few minutes to write. Then, optionally, ask a few volunteers to share their insights. Collect responses as an exit ticket if desired.)

(Teacher): "Excellent work today, everyone! You've taken important steps towards becoming financially smart and independent. Keep thinking about these ideas, and remember that managing your money is a skill that gets better with practice!"

Budgeting Basics: Your First Budget

Name: _____________________________

Date: _____________________________

Introduction: What is a Budget?

A budget is like a plan for your money. It helps you see how much money you have (income) and how much money you spend (expenses). Creating a budget helps you make smart choices with your money so you can reach your financial goals!

Part 1: Your Income

For this worksheet, imagine you have a part-time job and your monthly income is $800.

Total Monthly Income:

$800

Part 2: Your Expenses

Below are some common expenses. Estimate how much you might spend in each category for one month. Try to be realistic!

Fixed Expenses (usually the same amount each month):

1. Phone Bill:
   
   Estimate: $__________
   
   
   
2. Subscription (e.g., streaming service, app):
   
   Estimate: $__________
   
   
   
3. Transportation (e.g., bus pass, gas if you drive):
   
   Estimate: $__________
   
   
   

Variable Expenses (can change from month to month):

4. Food (e.g., snacks, eating out with friends):
   
   Estimate: $__________
   
   
   
5. Entertainment (e.g., movies, games, going out):
   
   Estimate: $__________
   
   
   
6. Clothing/Shopping:
   
   Estimate: $__________
   
   
   
7. Personal Care (e.g., toiletries, haircut):
   
   Estimate: $__________
   
   
   
8. Other (things you might forget!):
   
   Estimate: $__________
   
   
   

Part 3: Calculate Your Budget

Now, let's see how your income and expenses add up!

1. Total Fixed Expenses: (Add up items 1, 2, 3)
   
   $__________
   
   
   

2. Total Variable Expenses: (Add up items 4, 5, 6, 7, 8)
   
   $__________
   
   
   

3. Total Monthly Expenses: (Add Total Fixed Expenses + Total Variable Expenses)
   
   $__________
   
   
   

4. Money Left Over (or Short!): (Total Monthly Income - Total Monthly Expenses)
   
   $__________
   
   
   

Part 4: Reflect and Adjust

1. Did your expenses go over your income, or do you have money left over?
   
   
   
   

2. If you went over your income, which variable expense (e.g., food, entertainment, shopping) could you reduce to balance your budget? How much would you reduce it by?
   
   
   
   
   
   

3. If you had money left over, what would you do with it? (e.g., save it, spend it on something specific)
   
   
   
   
   
   

4. What was one thing you learned about your spending from this activity?
   
   
   
   
   
   

Saving Strategies: Smart Ways to Reach Your Goals

Saving money might seem hard, but with a few smart strategies, you can reach your financial goals! Here are some effective ways to put money aside.

1. Set Clear Goals

Before you start saving, know why you are saving. Having a clear goal makes it easier to stay motivated.

• Short-Term Goals (less than 1 year): Things like a new video game, concert tickets, a new pair of shoes, or a weekend trip.
• Long-Term Goals (more than 1 year): Bigger things like a down payment for a car, college tuition, or an emergency fund.

Example: Instead of just saying, "I want to save money," say, "I want to save $200 for a new gaming headset by next month."

2. Pay Yourself First (Automate Savings)

This is one of the easiest ways to save! When you get paid, immediately put a portion of your money into a savings account before you spend it on anything else. Many banks allow you to set up automatic transfers.

How it works: If you earn $100, you might automatically send $10 to your savings account the day you get paid. You never even see it in your checking account, so you won't be tempted to spend it!

3. Create an Emergency Fund

Life is unpredictable! Having an emergency fund means saving money specifically for unexpected costs like a broken phone, a sudden medical bill, or car repairs. Aim to save at least 3-6 months' worth of essential living expenses.

Why it's important: It prevents you from going into debt when surprises happen.

4. Cut Unnecessary Expenses

Look at your budget and see where you can trim down your spending. Even small cuts can add up over time.

• Small changes: Buying coffee less often, packing lunch instead of buying it, cancelling unused subscriptions.
• Bigger changes: Reducing how often you eat out, finding cheaper alternatives for entertainment.

Challenge: Try to identify one or two areas in your current (or hypothetical) spending where you could save a little each week.

5. Track Your Spending

Knowing where your money goes is the first step to controlling it. Use a notebook, a spreadsheet, or a budgeting app to track every dollar you spend. This helps you see patterns and identify areas where you can save.

Benefit: It makes you more aware of your financial habits and helps you stick to your budget.

6. Use the 50/30/20 Rule (A General Guideline)

This is a simple budgeting guideline:

• 50% of your income: Needs (housing, utilities, transportation, groceries)
• 30% of your income: Wants (entertainment, dining out, hobbies, shopping)
• 20% of your income: Savings & Debt Repayment (emergency fund, financial goals, credit card debt)

This rule can help you make sure you're prioritizing saving and not overspending on

Banking Basics: Your Guide to Banks

Banks are financial institutions that help people manage their money. They offer many services to keep your money safe and make it easier for you to use.

Why Use a Bank?

• Security: Banks are much safer than keeping large amounts of cash at home.
• Convenience: Easy access to your money through ATMs, debit cards, and online banking.
• Tools for Budgeting & Saving: Bank accounts help you organize your money and track your spending.
• Earn Interest: Savings accounts can help your money grow over time.

Types of Accounts

1. Checking Account

This is your everyday account. It's designed for frequent transactions – money going in and out.

• What it's for: Paying bills, buying groceries, getting cash out, making purchases with a debit card.
• Access: You can access funds with a debit card, checks, or online transfers.
• Interest: Most checking accounts do not earn interest, or earn very little.

2. Savings Account

This account is designed for money you want to save for the future. It's generally not used for daily spending.

• What it's for: Holding money for your financial goals (emergency fund, car, college, etc.).
• Access: Funds can be transferred to your checking account or withdrawn, but often there are limits on how many withdrawals you can make per month.
• Interest: Savings accounts usually earn a small amount of interest, meaning the bank pays you for keeping your money with them.

Debit Cards

A debit card is linked directly to your checking account. When you use it to make a purchase, the money is immediately taken out of your account.

• How it works: Swipe, insert, or tap your card, and enter your PIN (Personal Identification Number) if required. The money is deducted from your checking account.
• Important: Only spend money you actually have in your account. If you try to spend more than you have, your transaction might be declined, or you could be charged an overdraft fee.
• Safety: Keep your PIN secret and never write it on your card. Report a lost or stolen card immediately to your bank.

Online Banking & Mobile Apps

Most banks offer online banking and mobile apps that let you manage your money from your computer or smartphone.

• What you can do:

  • Check your account balances.
  • View your transaction history.
  • Transfer money between your accounts.
  • Pay bills online.
  • Deposit checks using your phone camera.

• Security Tips for Online Banking:

  • Strong Passwords: Use unique, complex passwords for your banking accounts.
  • Two-Factor Authentication: If your bank offers it, enable this feature for extra security (e.g., a code sent to your phone).
  • Secure Wi-Fi: Avoid doing banking on public Wi-Fi networks.
  • Monitor Your Accounts: Regularly check your statements for any suspicious activity.
  • Beware of Phishing: Don't click on suspicious links in emails or texts that claim to be from your bank.

Understanding Bank Statements

Banks send you monthly statements that summarize your account activity. These show:

• Your starting balance.
• All deposits (money added).
• All withdrawals (money taken out).
• Any fees charged.
• Your ending balance.

Reviewing your bank statements helps you track your spending, find any errors, and make sure your budget is on track.

Budgeting Life Project: Your Financial Future

Project Goal

In this project, you will create a realistic monthly budget and a financial plan based on a hypothetical life scenario. This will help you understand how to manage your money for different life situations and achieve financial goals.

Your Scenario

Imagine you are 25 years old and have just started your first full-time job. Your net monthly income (after taxes) is $2,500.

Your Monthly Income:

• Net Monthly Income: $2,500

Your Current Expenses:

You will need to research or estimate the following typical monthly expenses for an independent adult in your area. Think about what a 25-year-old might need to pay for.

Project Steps

Step 1: Research and Estimate Expenses (25 points)

Research and list your estimated monthly expenses. Consider the following categories and add any others you think are important. You should aim to be as realistic as possible.

• Housing: Rent (e.g., apartment, shared housing)
  
  
  
  
  
  
• Utilities: Electricity, Water, Internet, Phone
  
  
  
  
  
  
• Transportation: Car payment, gas, public transport, car insurance
  
  
  
  
  
  
• Food: Groceries, dining out
  
  
  
  
  
  
• Personal Care: Toiletries, haircuts, etc.
  
  
  
  
  
  
• Entertainment/Recreation: Movies, hobbies, going out
  
  
  
  
  
  
• Clothing:
  
  
  
  
  
  
• Debt Payments (if any): Student loans, credit card (hypothetical)
  
  
  
  
  
  
• Other (list any additional expenses):
  
  
  
  
  
  
  
  
  
  
  
  

Step 2: Create Your Monthly Budget (30 points)

Using your estimated expenses and your income, create a detailed monthly budget. You can use the format below or create your own table. Make sure your total expenses do not exceed your income! If they do, adjust your variable expenses until your budget balances.

My Monthly Budget

Step 3: Develop a Saving Plan (25 points)

Now, let conducive into your budget. Based on your remaining money after expenses, create a saving plan for two different financial goals:

1. Short-Term Goal (within 1 year): (e.g., New phone, concert tickets, weekend trip).
   

   • Goal:
     
     
     
   • Cost of Goal:
     
     
     
   • How much will you save per month?
     
     
     
   • How long will it take to reach your goal?
     
     
     
     
     

2. Long-Term Goal (more than 1 year): (e.g., Down payment for a car, college fund, emergency fund).
   

   • Goal:
     
     
     
   • Cost of Goal:
     
     
     
   • How much will you save per month?
     
     
     
   • How long will it take to reach your goal?
     
     
     
     
     

Step 4: Reflection Questions (20 points)

Answer the following questions based on your budgeting experience:

1. What was the most challenging part of creating your budget? Why?
   
   
   
   
   
   
2. What did you learn about your spending habits (even hypothetical ones) from this project?
   
   
   
   
   
   
3. How might understanding banking services (checking, savings, debit cards) help you manage this budget in real life?
   
   
   
   
   
   
4. What is one change you would make to your hypothetical budget if you had to live on it for real, and why?
   
   
   
   
   
   

Assessment

Your project will be graded using the Project Rubric. Make sure to review the rubric to understand the expectations for each section.

Project Rubric: Budgeting Life Project

Student Name: __________________________________

Date: ____________________________________

Project: Budgeting Life Project

This rubric will be used to assess your Budgeting Life Project. Please review it carefully to understand the expectations for each part of the project.

Scoring Scale:

• 4 - Exceeds Expectations: Demonstrates exceptional understanding and effort; goes above and beyond requirements.
• 3 - Meets Expectations: Demonstrates a solid understanding and completes all requirements satisfactorily.
• 2 - Partially Meets Expectations: Demonstrates some understanding but has noticeable gaps or incomplete sections.
• 1 - Does Not Meet Expectations: Demonstrates minimal understanding or effort; significant portions are missing or incorrect.
• 0 - Not Attempted: No work submitted for this section.

Criteria

Step 1: Research and Estimate Expenses (25 Points)

Step 2: Create Your Monthly Budget (30 Points)

Step 3: Develop a Saving Plan (25 Points)

Step 4: Reflection Questions (20 Points)

Total Score:

_________________ / 100 Points

Teacher Comments: