Intro to Unit 4 - Budgeting

Unit EQ - How are budgets used to make wise financial decisions?

LEQ 1 - How are income and expenses classified?
LEQ 2 - What are the steps to develop a budget?

Please access your laptop & visit the class website

1. Activator - Chalk Talk
1. What do adults pay for on a monthly basis?
2. White Board Groups - Estimations
2. Mini Lesson - Cash Flows
3. Spending Plan - Advanced Organizer
4. Spending Plan - PowerPoint
• Classifying Income and Expenses  (LEQ 1)
• Spending Plan Development Process (LEQ 2)
• Components of Spending Plans  (LEQ 2)
• Identifying Spending Plan Components (LEQ 1 & 2)
5. TOD - Today's Meet (CLICK HERE FOR LINK)
• List the steps of creating a spending plan.
• Muddy Points

Evaluating A Budget

EQ - How is a real life budget created, evaluated, and adjusted?

1. Collaborative Teams - Review yesterday's lesson content including the following:
1. TCAIE
2. Show how to allocate expenses to categories (use "Step Three" in the packet)
3. Calculating Percentage of Income Used
4. Pie Chart Percentages
2. Collaborative Teams - Questionnaire
1. What are the similarities between the Brown Family's expense allocation and the average expense allocation?
2. What are 2 differences?
3. Debriefing - White Board Response
1. What 3 steps of budgeting are for PLANNING?
2. Which category allocation from the scenario most alarms you?
3. What makes it alarming?
4. Activator - TPS: Mint.com Budgeting Gadget
5. Evaluating a budget
1. Sample Budget *
2. Review Control Systems
3. The evaluation process* (Together)
6. Financial Advice - What advice would you give to Sonny?  Be specific and detailed *
1. Google Docs Instruction Sheet
2. Letter Directions
3. Composition Work Time
7. Self-Evaluation
1. What kind of spender are you? 
2. How can the result of this quiz help you when planning your personal budget?

Developing a Budget

EQ - What are the steps used to develop a budget?

1. Activator: Test your knowledge (TPS)
• Spending Plan Note Taking Guide (19-20)
2. Application Activity - "The Brown Family Scenario"
• Steps 1-3
3. Discussion & Review
4. Intro - Control Systems
1. What?
2. Why?
5. Complete Steps 4-5
6. Discussion & Review
7. Assignment - Complete pages 25-26

Intro to Unit 4 - Budgeting

Unit EQ - How are budgets used to make wise financial decisions?

LEQ 1 - How are income and expenses classified?
LEQ 2 - What are the steps to develop a budget?

1. Activator - Word Association
2. Mini Lesson - Cash Flows
3. Spending Plan - Advanced Organizer
4. Spending Plan - PowerPoint
• Classifying Income and Expenses  (LEQ 1)
• Spending Plan Development Process (LEQ 2)
• Components of Spending Plans  (LEQ 2)
• Identifying Spending Plan Components (LEQ 1 & 2)
5. TOD 
• List the steps of creating a spending plan.
• Muddy Points