Making Ends Meet
Monthly Budget Project
PLANNING:
Topic: Preparing a monthly budget
Time:
250 minutes or 5 class periods
Class: Algebraic Connections
Content Standards addressed:
Alabama Course of Study Algebraic Connections Standard 1 - Use algebraic
and geometric techniques to make financial and economic decisions,
including those involving banking and investments, insurance, personal
budgets, credit purchases, recreation, and deceptive and fraudulent
pricing and advertising.
NCTM Standards - recognize and apply mathematics in contexts outside of
mathematics.
Technology Standards addressed:
Standard 25 – Apply appropriate techniques for producing spreadsheets.
Standard 34 – Use appropriate on-line resources for research.
Standard 36 – Identify useful information from a search.
Standard 37 – Utilize technology for solving problems and making data-drivin
decisions.
Materials:
Handout of requirements, computer with Internet connection, spreadsheet and
word processing software will be used in this lesson. This handout and
resources are at
http://www.shelbyed.k12.al.us/schools/cmhs/faculty/dbone/Budget/
Lesson Objectives:
1. Student will use formulas and functions to create a spreadsheet that
automatically calculates amounts entered.
2. Student will use Internet for research.
3. Student will use word processing software to compose summary.
4. Student will calculate monthly income based on a given salary and then
subtracting taxes.
5. Student will estimate what they think their budget will be.
6. Student will research a place to live.
7. Student will research for a car and calculate car payment.
8. Student will research for car insurance and calculate monthly insurance payment.
9. Student will estimate the amount to spend on gas.
10. Student will calculate phone bill.
11. Student will research cell phones and calculate cell phone bill.
12. Student will comparison shop between cable and direct tv. They will calculate
their bill.
13. Student will research cell phones and calculate monthly cell phone bill.
14. Student will plan for meals and shop and calculate grocery bill.
15. Student will calculate the amount to save (at must be at least 5%).
16. Student will use a standard rate (provided) for health insurance.
17. Student will use a standard rate (provided) for power and water.
18. Student will estimate amounts for remaining categories (clothing, entertainment,
and charitable contributions.)
19. Student will create a chart to represent their spending.
20. Student will type a paragraph to explain what they learned from their
spreadsheet.
21. Student will create a cover page and turn in their project.
TEACHING:
Motivation:
Teacher will introduce the lesson by explaining that creating a budget is very
important for everyone. The class will discuss their future plans and dreams.
Teacher will lead the discussion to the cost of living expenses.
Teacher Procedures:
Prior to the Computer
1. Teacher will explain purpose of
budgets.
2. Teacher will discuss what items one
must pay for.
3. Teacher will pass out handout that
contains instructions for the project.
4. Teacher will explain all parts of the
project.
At the Computer
1. Teacher will walk around and help
students with their research.
After the Computer
1. Teacher will lead discussion about how
much car payments and rent or house
payments actually are.
Student Procedures:
1. Student will participate in discussion.
2. Student will read handout.
1. Student will use handout to type their
spreadsheet. They will estimate what
they think their budget will be and print
this page before researching for actual
prices.
2. Student will complete their research
and budget.
3. Student will complete pie chart.
4. Student will complete paragraph.
1. Student will participate in discussion.
2. Student will share with the class one
thing they learned from their
spreadsheet.
Reflection & Transfer:
Students will reflect on their budget and gain an appreciation of how much things
cost. Student will relate their budget to their future. Through this assignment,
students will gain an insight how practical math is and how practical
spreadsheets are.
Resources for students:
1. http://www.apartments.com/
2. http://www.carprices.com/
3. http://www.esurance.com/
4. http://www.capcentrefoods.com/home.html
5. http://www.tmobile.com
ASSESSMENT:
Grading Rubric
Item
Points Possible
Cover Page
10
Rent Resource
10
Car Resource
10
Car Insurance Resource
10
Car gasoline resource
10
Phone Resource
10
Cell Phone Resource
10
Television Entertainment Resource
10
Groceries
10
Estimated Budget
10
Printed Budget
40
Chart
20
Paragraph
40
Total
Comments
200
Points Awarded