General Financial Literacy
Lesson Plans

Strand 5

Students will understand principles of personal money management including budgeting, managing accounts, and the role of credit and impacts on personal finance.

Standard 1

Identify and explain the process of budgeting based on projected income and expenses.

• Budget Breakdown: High School vs. Adult
  Students will analyze monthly household expenses, explain the benefits of using a budget, and create a sample budget.
• Budget Categories
  While completing a digital worksheet, students will describe the purpose of a budget, classify expenses as needs and wants, and explain the difference between gross pay and net pay.
• Budget Planner, Creative Notetaking
  This lesson Plan is for Financial Literacy and Budget Planning.  The Standards were not listed in the Resource section so they are as follows:Standard 1Analyze the role of cultural, social, and emotional influences on financial behavior.Evaluate the role of emotions, attitudes and behavior in making financial decisions.Recognize that individuals are responsible for their own financial decisions and for subsequent positive and negative consequences.Standard 2Define a rational decision-making process and the steps of financial planning.Define opportunity cost (tradeoffs) and their role in decision making.Describe a rational decision - making process.Identify short- and long-term financial decisions and the impact they have on financial planning.Define the elements of a financial plan.Standard 1Identify and explain the process of budgeting based on calculated income.Develop a budget.Identify and prioritize fixed, fixed variable and variable budget categories.The Image for this Budget Planner was created by myself, Sharon Pinkerton. 
• Budgeting
  Students will create a zero-budget from a projected salary for a career of their choice, practicing the PYF principle and learning realistic costs of living.
• Financial Goals
  Students will learn about SMART financial goals and then complete a worksheet where they will set personal financial goals, both long and short term.
• Smart Shopping
  Learning the art of smart shopping.

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http://www.uen.org - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE).  Send questions or comments to USBE Specialist - Breckon  Heywood and see the Financial Literacy website. For general questions about Utah's Core Standards contact the Director - Jennifer  Throndsen.

These materials have been produced by and for the teachers of the State of Utah. Copies of these materials may be freely reproduced for teacher and classroom use. When distributing these materials, credit should be given to Utah State Board of Education. These materials may not be published, in whole or part, or in any other format, without the written permission of the Utah State Board of Education, 250 East 500 South, PO Box 144200, Salt Lake City, Utah 84114-4200.