Social Studies
Objective: I can make a simple budget that shows my income, my spending and my saving.
Standards: D2.Eco.1.3-5
Builds on: Needs Day 1 (income) and Week 24 Day 3 (a budget is a plan for money). One-minute check: "Name the word for putting money into a bank, and the word for taking it out." (Deposit. Withdrawal.)
- expense – money going out to pay for something
Materials: Notebook, Pencil, 12 play dollars (paper slips work), Calculator (for checking only)
- Warm-Up · 5 min
Spaced review from Week 24. Ask: "Name one need and one want. How are they different?" (Sample: food and a toy. We must have needs to live and be safe.) Then ask the big question: "If someone gave you $20, how would you plan to use it?"
- Mini-Lesson · 10–15 min
Say: "A budget is a plan for your money before you spend it. Income is money coming in. Expenses are money going out." Write the rule: expenses plus saving cannot be more than income. Model a $10 weekly allowance in the notebook. Write four lines: Save $3. Give $1. Comic book $4. Snack $2. Ask: "Does the plan fit? Add the lines." (Yes. 3 + 1 + 4 + 2 = 10.) Now change the snack to a $4 toy. Ask: "Does it fit now?" (No. 3 + 1 + 4 + 4 = 12, and 12 is more than 10.) Ask: "What could change?" (Drop one thing, or pick something that costs less.) Say: "Every choice has a benefit and a cost. The comic's benefit is a fun story. Its cost is $4 that cannot be used for anything else." Ask: "What is the benefit of the Save line?" (Money is ready later for something bigger.) "What is its cost?" (Less to spend this week.) If stuck, say: "Add each line. Is the total more than the income?"
- Activity / Source Work · 15–20 min
Make a Budget. Your child gets a pretend $12 for the week, in play dollars. Read this price list aloud. Pack of trading cards $5. Toy car $3. Sheet of stickers $2. Ice pop $2. Juice box $1. 1) In the notebook, draw a table with three columns: line, amount, running total. 2) Write "Income $12" above the table. 3) The first line is Save. It must be at least $2. Your child sets those play dollars aside. 4) Your child chooses items. For each one, write a line, pay the play dollars and write the running total. 5) Stop before the running total passes $12. If it goes over, cross something off. 6) Ask: "What is the benefit of your first choice? What did you give up to get it?" 7) Check the total with the calculator. Many budgets are right. Sample: Save $2, cards $5, car $3, stickers $2. That makes 12.
- Notebook Entry · 10 min
Your child copies the finished budget neatly. They label Income, Save and Expenses and write the total. Then finish the frame: "Making a budget helps me because ___." Sample: "Making a budget helps me because I see what I can afford before I spend." Keep this page for Day 4.
- Exit Ticket · 5 min
Your child solves question 2 on paper and answers questions 1 and 3 aloud. Praise your child for adding every line.
Watch for: Listing purchases that add up to more than the income.
Try: Your child adds as they go and writes the running total beside each line. They stop when it reaches the income.
- Is $3 spent on a snack income or an expense? How do you know?
- Omar's income is $9. His plan lists: save $2, a ball $4 and a snack $4. Does the plan fit? Explain.
- You have $12. Name one benefit and one cost of buying a $5 pack of cards.
Show answers
- An expense. It is money going out.
- No. 2 + 4 + 4 = 10, and $10 is more than his $9 income.
- Answers vary. Look for: a benefit such as fun or trading with friends; a cost such as $5 less to save or spend.
Support: Write Income and Save for your child. Offer only three price choices. Your child pays with play dollars until none are left.
Extend: Your child makes a four-week budget for a pretend $12 each week. It must save enough for a $20 game by the end.
Homework: Your child writes a budget for this week's allowance, or a pretend $10, before spending any of it. Look for a Save line and a total that is no more than the income.
Practice page · Week 30, Day 3
Social Studies
I can make a budget that shows my income, spending and saving.
Look: a budget
- Write your income at the top.
- List each thing you will spend or save.
- Add the lines. The total cannot be more than your income.
Make a Budget: you have $14. Prices: book $6, yo-yo $3, juice $1, bracelet kit $4, marker $2. Save at least $3.
| Line (Save or item) | Amount |
|---|---|
- 1.
Total of all my lines:
- 2.
Money left over (if any):
Solve each problem.
- 3.
Rosa has $9. She plans to spend $2 on a snack and save $5. How much is left?
- 4.
Theo has $12. His plan: save $4, a book for $6 and a yo-yo for $3. Does it fit? Explain.
- 5.
Is $5 for raking leaves income or an expense?
○ income○ expense - 6.
Is $3 for a yo-yo income or an expense?
○ income○ expense
Challenge: Fix Theo's plan so it adds up to exactly $12. Show the new lines.
Materials: store flyer or a printed price list