Book 14: Budgeting Recreation

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1 Math 21 Recreation and Wellness Book 14: Budgeting Recreation Name: Start Date: Completion Date:

2 Year Overview: Earning and Spending Money Home Travel Recreation and Wellness 1. Budget 2. Personal Banking 3. Interest 4. Consumer Credit 5. Major Purchases 6. Scale Drawings & Ratios 7. Area & Volume 8. Angles 9. Triangles 10. Slope & Elevation 11. Travel Project 12. Puzzles & Games 13. Understanding Statistics 14. Budgeting Recreation Topic Overview Recreational activities such as playing games, solving puzzles, and participating in sporting events as well as activities connected to personal wellness all involve problem solving strategies, reasoning, and budgeting skills. This section of the recreation and wellness unit is designed to give you an opportunity to develop a budget around recreation and wellness. Outcomes Theme Specific Outcomes M21.8 Demonstrate understanding of budgets 2

3 Contents Topic Overview... 2 Outcomes... 2 Theme Specific Outcomes... 2 Glossary of Terms Budget... 5 Show What You Know - Project... 6 Student Evaluation... 7 Learning Log

4 Glossary of Terms budget a plan for managing money 4

5 13.1 Budget Budgets are important because they help for you to manage your money to ensure that you aren t spending more than you earn. In recreation and wellness, you will need to budget to determine how much money you have to spend on the recreation and wellness activities you want to participate in. Recreation and wellness are an important part of life, and therefore it is important to ensure that you have enough money to participate in the recreation and wellness activities that you want to be a part of. In this lesson we will take a look at the budget skills that you have been developing and how that applies to recreation and wellness. A budget is a plan for managing money. A well-planned budget is the key to wise spending. The first step toward managing your money is to keep a record of how your money is spent. At the end of the month, you can list your expenditures/expenses on a budget sheet and compare them to your income. The goal is to balance your budget, or spend less than you take in. When participating in recreation and wellness activities it is important to investigate different options and be able to make a budget for how you will spend your money. 5

6 Show What You Know - Project Pick an activity, hobby, sport, etc. that you are currently involved in or would like to be involved in. Gather as many details as possible, for example: What is the activity, hobby or sport (e.g. gym membership, club volleyball, guitar lessons, horseback riding, hockey camp, etc)? What is the time frame? (e.g. days, weeks, months, years) Where is the activity, hobby or sport? How do you get there? (e.g. drive, bike, bus, etc.) Is it a group or individual activity? Who are the participants? (e.g. coach, friends, family, etc.)? Is there any out of town travel? Is there any special equipment required? Is there any special clothing or uniforms required? Is there a registration fee? Are there any other details that are important? After gathering as many details as possible, list all of the costs (e.g. registration fees, uniform, out of town travel, tournament fees, etc.) and create a budget using these costs. 1. Was the total cost of the activity lower or higher than you expected? 2. How will you finance this activity? 3. If you are financing this activity, can you afford it or do you need to reduce some of your expenses? 6

7 Student Evaluation Insufficient Evidence (IE) Student has not demonstrated the criteria below. Developing (D) Growing (G) Proficient (P) Exceptional (E) Student has rarely demonstrated the criteria below. Student has inconsistently demonstrated the criteria below. Student has consistently demonstrated the criteria below. Student has consistently demonstrated the criteria below. In addition they have shown their understanding in novel situations or at a higher level of thinking than what is expected by the criteria. Proficient Level Criteria IE D G P E M21.8 Demonstrate understanding of budgets. [WA20.6] a. I can identify fixed and variable expenses that could be included in a personal budget. b. I can explain considerations that must be made when developing a budget (e.g., prioritizing, recurring and unexpected expenses). c. I can research the costs of expenses (e.g., bus pass, rent, phone, electricity, power, groceries) to create and justify a personal budget. d. I can analyze and modify a budget to achieve a set of personal goals. e. I can investigate and analyze, with or without technology, what if questions related to personal budgets f. I can explain the advantages and challenges of creating personal budgets. g. I can record and monitor purchases to determine personal expenditures. h. I can investigate, plan, design, and prepare a budget to solve home, recreation, or travel problems using appropriate technologies (e.g., design or decorating websites, design or drawing software, spreadsheet). 7

8 Learning Log Date Starting Point Ending Point 8

Math 21 Earning and Spending Money. Book 3: Interest. Name:

Math 21 Earning and Spending Money Book 3: Interest Name: Start Date: Completion Date: Year Overview: Earning and Spending Money 1. Budget 2. Personal Banking 3. Interest 4. Consumer Credit 5. Major Purchases