Personal Finance Warm-Up: What's Your Money Mindset?

Instructions: Think about your experiences and feelings about money. Answer the questions below honestly.

1. What is one thing you would really like to buy or save up for?





2. Where do you think most adults get their money from?





3. What does the word "budget" mean to you?





4. Do you think it's important to save money? Why or why not?





5. If you received $100 right now, what's the first thing you would do with it?

Budgeting Basics Activity: My First Money Plan

Scenario: You have an income of $50 per week (from an allowance or a small chore-based job). You also have some typical expenses and a savings goal.

Instructions:
1. Fill in your weekly income.
2. List your fixed and variable expenses, and how much you plan to spend on each.
3. Set a savings goal and decide how much you will save each week.
4. Calculate your total expenses and savings, and then your remaining money.

## My Weekly Money Plan

Weekly Income:
* Allowance/Job: $50.00
* Other Income (e.g., gifts): $
* Total Weekly Income: $


Weekly Expenses:
* Fixed Expenses (things that usually cost the same each week):
* Streaming Service Subscription (e.g., music, video): $5.00
* Phone Bill Contribution: $10.00
* Other Fixed Expense:
*

* Variable Expenses (things that can change each week):
* Snacks/Drinks: $
* Entertainment (e.g., movie, game): $
* Shopping (e.g., clothes, accessories): $
* Other Variable Expense:
*

* Total Weekly Expenses: $


Weekly Savings:
* Savings Goal: (e.g., new video game, concert tickets, college fund)


* Amount to Save This Week: $


Summary:
* Total Weekly Income: $
* Total Weekly Expenses: $
* Total Weekly Savings: $
* Money Remaining (Income - Expenses - Savings): $

Reflection Questions:
1. Was it easy or difficult to create your budget? Why?





2. Did you have enough money for everything you wanted? If not, what adjustments did you make?





3. What did you learn about managing money from this activity?

Financial Footprint Cool-Down

Instructions: Briefly answer the following questions to reflect on today's lesson.

1. What is one new thing you learned about personal finance today?





2. Why is creating a budget important for your financial future?





3. What is one way you can apply what you learned today to your own life starting this week?

Teacher Script: Money Matters

Warm-Up: What's Your Money Mindset? (5 minutes)

"Good morning, everyone! Today, we're going to talk about something that affects all of us: money. It might seem far off, but learning about personal finance now can really set you up for success later."

"To get us started, I've handed out a quick Personal Finance Warm-Up. Please take about 3 minutes to answer the questions individually. Don't worry, there are no right or wrong answers, just your thoughts!"

Allow students 3 minutes to complete the warm-up.

"Alright, let's hear some of your thoughts. Who would like to share one thing they would like to buy or save up for?" (Call on a few students.)

"Great! And how about what the word 'budget' means to you? Any brave volunteers?" (Encourage a brief discussion, clarifying misconceptions.)

Introduction to Personal Finance (10 minutes)

"Fantastic. Now, let's dive into some core concepts with our Smart Spending Slide Deck."

Navigate to Slide 1: "Your Money, Your Future!"

"As the slide says, understanding your money is like gaining a superpower. It helps you make smart choices and reach your goals."

Navigate to Slide 2: "What is Income?"

"First, let's talk about income. Can anyone tell me what income means in your own words?" (Wait for responses.) "Exactly! It's the money you earn or receive. For many of you, that might be an allowance, money from a part-time job, or even gifts. For adults, it's usually from their jobs or businesses."

"Think about it: where does your money come from?"

Navigate to Slide 3: "What are Expenses?"

"Now, what about expenses? If income is money coming in, what do you think expenses are?" (Wait for responses.) "Spot on! Expenses are the money you spend. We can think of them as needs versus wants. A 'need' might be food or school supplies, while a 'want' could be a new video game or concert tickets."

"What are some things you spend your money on regularly?"

Navigate to Slide 4: "Saving for Success"

"Next up: savings. Why do you think saving money is so important?" (Discuss student ideas.) "It's about setting money aside for later, whether it's for big goals like college or a new phone, or even for unexpected things that pop up."

"What are you saving for, or what would you like to save for in the future?"

Navigate to Slide 5: "Budgeting: Your Money Map"

"Finally, let's talk about budgeting. This is where it all comes together! A budget is simply a plan for how you're going to spend and save your money. It's your personal money map that helps you stay on track to reach your financial goals."

"Ready to make your own money map?"

Budgeting Basics Activity (10 minutes)

"Now it's your turn to be a financial planner! I'm handing out the Budgeting Basics Activity worksheet. In this activity, you'll imagine you have a weekly income, and you'll plan how you'd spend and save that money, accounting for different expenses."

"You can work individually or with a partner. Take about 8 minutes to complete the worksheet. I'll be walking around to help if you have any questions."

Circulate and provide support. Encourage students to think carefully about their choices between needs, wants, and savings.

Share and Discuss & Cool-Down (5 minutes)

"Bring it back together, everyone! Let's hear how your budgeting went. Was it easy or difficult to create your budget? Why?" (Call on a few students to share their experiences and any challenges they faced.)

"Did anyone have to make adjustments to their spending to reach a savings goal? What did you decide to cut back on?"

"Great discussions! To wrap up, I have a quick exit ticket called the Financial Footprint Cool-Down. Please take a moment to answer these final questions. This will help me see what resonated with you today."

Distribute or display the Cool-Down activity.

"Remember, understanding personal finance is a skill that will benefit you throughout your entire life. Keep thinking about how you manage your money, and you'll be well on your way to a secure financial future!"

"Please turn in your cool-down sheets on your way out. Thanks, everyone!"