Marita Rita Bezzina
April 24, 2020
8:46 pm
This Lesson Was Contributed By:
Judith Baldacchino
This Lesson is For:
Lesson Duration:
80 mins.
What Should You Expect From This Lesson?
A personal plan to help people manage their finances involves prioritizing between needs and wants. This lesson is about - The importance of budgeting oneβs income - Sources of income - The difference between gross and net income - Priorities to be considered when planning the family budget - Possible consequences of mismanagement
How To Carry Out This Lesson At Home:
1. Refer to the picture of the Monopoly game below and think on the following:
β In order to be a successful Monopoly player, what should one learn?
β Do you think that a successful Monopoly player should wait and decide on buying or not buying every property that she/he lands on? Why?
2. Now think on:
β Why is it important for you to manage finances? Why is it important for the family to manage finances? What would you consider when managing finances?
3. Follow the PPT presentation to learn the definition of budgeting, sources of income and expenses as well as the importance of budgeting.
4. Watch the following video on meaning and importance of budgeting (2.25 min): https://www.youtube.com/watch?v=j1Vwth0B8I8
5. Task: Read and fill in the activity handout with the title βIdentifying needs and wantsβ.
6. Read the handout βBudgetingβ.
7. Watch the following video on SMART budgeting (7.20 min): https://www.youtube.com/watch?v=58EuubFG9-c
8. Task for home: Read and fill in the βMy Pocket Money Recordβ sheet in order to record your money management for a month.
All The Resources You Need To Carry Out This Lesson At Home
There AreΒ 6Β Resources For This Lesson
| Picture-Budgeting | Download |
| Budeting-Handout | Download |
| Budgeting-PPT | Download |
| Identifying-Needs-and-Wants | Download |
| Monopoly-Image | Download |
| My-Pocket-Money-Record-Sheet | Download |
