Goals and Budgets Unit 1 Objectives: Identify goals, including personal, family, educational, and material. Identify income and expenses and create a budget. Identify ways to make adjustments to income after expenses in order to achieve goals. Language and EFF skills*: planning; using math to solve problems and communicate; solving problems and making decisions In this unit Goals in Writing = Budget The New Restaurant Picture Story and Activities Making a Budget Making Changes to a Budget to Save Money Reflection Materials Overhead 1-A: The New Restaurant Picture Story Overhead 1-B: Monthly Budget Worksheet - Answer Key Worksheet 1-2: The New Restaurant Picture Story and Activities Worksheet 1-3: Monthly Budget Worksheet Worksheet 1-4: Personal Budget Worksheet Visuals 1-3: Concentration Game and Budget Activity Clip Art *EFF = Equipped for the Future
Background Information for Teacher Reference Financial Literacy Gains Chart for Ongoing Assessment: chart that can be used throughout Money Talks lessons to record student gains in financial literacy. Using Picture Stories: Review Picture Story Technique: Letting the Pictures Tell the Stories in the Teacher s Guide. U W n ar it m 1 -u G p: o G al o s a a ls n i d n B W u r d it g in e g ts = Budget 1. Ask students to take another look at their "dream cloud" goals from the Needs Assessment. 2. For students who were absent for the needs assessment, ask them what they want to do or buy in the future. 3. Ask students how they think they will be able to save the money they need for the things they want to buy or do. As a class discuss questions like a. Do you have extra money from your paycheck after paying all your bills? b. What do you do with extra money? c. If you do not have any money left, is there anything you can change to have some money? d. What can you do to save money for the future, and not spend it? (Answers may include put it in the bank, etc.) e. Do you write down how much you spend? Why might you do this? f. What is a budget?
Unit 1 Goals and Budgets Presentation: The New Restaurant Picture Story and Activities Materials Overhead 1-A: The New Restaurant Picture Story Worksheet 1-2: The New Restaurant Picture Story and Activities 1. Follow the instructions for Picture Story Best Practices (in the Teacher s Guide) and generate a story. 2. Complete the picture story activities. 3. Review the answers to the New Restaurant fill-in-theblank activity. Answers: are, budget, save, opens, plans, fun, busboy. 4. For additional practice in class or at home, have students rewrite the story. The New Restaurant Chen and Soo are friends. They work at a restaurant. They are busboys. They dream about opening a restaurant. It is their goal. Chen plans his budget. He saves $300 a month. He watches television. He goes to the park and plays games at home with his family. They have fun. After three years, he has $10,800. He opens a restaurant. Soo plans his budget. He spends all his money. He buys a big screen television. He travels to Disneyland and goes to the movie theater with his family. They have fun. He does not save money. After three years, Soo is a busboy. He works at Chen's new restaurant.
U Pr n a i c t ti 1 ce G : M oa a l k s in a g nd a B B u u d d g g et ets Materials Overhead 1-A The New Restaurant Picture Story Worksheet 1-3: Monthly Budget Worksheet Overhead 1-B: Monthly Budget Worksheet - Answer Key Visuals 1-3: Concentration Game and Budget Activity Clip Art Printed pictures from Part 2 of Visuals 1-3 Calendar Part I: Build a word bank 1. Show Overhead 1-A, the picture of Soo sitting down to make his budget. 2. Look at the amounts shown in the piggy bank and point out that Soo does not save any money. 3. Make a chart on the board with two columns: 1) Get $ (Income) and 2) Spend $ (Expenses). *For this brainstorming activity, lead students to use the vocabulary in Worksheet 1-3. 4. For column 1, ask students Where/How do you get your money? Write responses (job, social security, etc.). 5. For column 2, ask students Where/How do you spend that money each month? Write responses. 6. After students have generated a list of vocabulary, print out the pictures from Part 2 of Visuals 1-3. These represent each budget item. Tape each picture into your second column. Some will match students responses, but if they do not, show the additional pictures and use related vocabulary words. In Part 1 of Visuals 1-3, you can see which words relate to each visual. 7. To reinforce vocabulary, go through each of the pictures on the board, one by one, and ask students what each picture represents. Write the words on the board. Focus only on discussion at this point. Lead students to the vocabulary words that they will work with in this activity. 8. Go through each word, one by one, and have students listen and repeat the words. Try to do only a couple at a time and then review before moving on to the next several words.
Part II Discuss how to plan for bills that are paid yearly, monthly or weekly. 1. Look at a calendar and point to items on your expenses list, like rent, and ask, "When do you pay rent?" Answers may vary but emphasize the point that it is usually paid every month - and show this using your calendar. 2. Then, from your list on the board, ask students, "When do you pay for your vacation? Show that, for example, in July, Soo's family took a vacation to Disneyland, and paid $600. Part III Reinforce vocabulary and budgeting concepts with matching and dictation. 1. Pass out Worksheet 1-3, Monthly Budget Worksheet, and have students work in pairs to complete the first activity, the matching exercise. Check answers as a class. 2. Next, have students turn to page 3 of Worksheet 1-3. From the Monthly Budget Answer Key, Overhead 1- B, dictate the amounts for Soo and Jin's budget for students to fill in. Do not show students the overhead yet. 3. After completing the dictation, have students compare answers, then dictate again a. If students need practice with numbers, dictate the amounts, write them on the board, and have students copy them.
4. Next, have students write in the vocabulary words that correspond to the pictures and amounts. 5. Show Overhead 1-B and have students check their dictation amounts. Then, as a class, fill in the related vocabulary words on the overhead. Part IV Review and extension 1. Review: Ask questions about the picture story: for example, "How much is Soo's electric bill?" or "What costs $50?" 2. Extension: To extend this activity and continue practicing amounts, students, in pairs, can ask each other, "What costs?" and How much is? 3. Extension: In small groups, students can play the Concentration Game (see materials). a. Game pieces are on the first two pages of Visuals 1-3. b. Have groups cut up all the pictures and words, and have them match the picture(s) with the correct word(s). One set of words is needed for each group. In Visuals 1-3, words are grouped into two sets of 9-10 words. c. Break the sets of words down into smaller sets depending on each group's literacy level.
U Ap n p i l t ic 1 a G tio o n a : l M s a a n ki d ng B C u h d a g n e g t e s s to a Budget to Save Money Materials Worksheet 1-3 (page 5): Monthly Budget Worksheet Worksheet 1-4: Personal Budget Worksheet 1. Review the picture story. Show how Chen saved money each month and how Soo did not. 2. Tell students they can help Soo save money and open a restaurant in the future. Have students work in groups of three to five to come up with a list of ideas for how Soo and Jin can save $100 a month (the last activity on Worksheet 1-3, page 5). 3. As a whole group, discuss the ideas students generate. 4. Extension: have students complete a budget worksheet for themselves. Tell students to write in their own amounts on Worksheet 1-3, pages 3 and 4 (with pictures) and/or make students a copy of Worksheet 1-4, which is a more detailed budget that they can do with family members who know English. *Because of the personal nature of the information, please do not have students complete their personal worksheet in class. Unit 1 Goals and Budgets Reflection Materials Financial Literacy Gains Chart for Ongoing Assessment 1. Ask students to write down one thing they learned in class today. It could be a new concept, a new word, or a new grammar point. 2. Student may also discuss what they learned as a class with each student contributing one new thing. 3. Fill in the Financial Literacy Gains chart while students reflect on the unit.
Unit 1 Goals and Budgets Materials The New Restaurant- Lesson 1: Goals and Budgets Picture Story Overhead 1-A VALRC Money Talks Unit II: Planning for the Future
Monthly Budget Worksheet Lesson 1: Goals and Budgets Answer Key Overhead 1-B pages 1-3 EXPENSES PER MONTH Dictate the amount below to students. As a class, write the vocabulary words. Note: *Yearly items divided by 12 months Example: vacations = $600 or 600 12=$50 per month $ 800 rent $ 50 electric bill $ 20 $ 250 $ 200 $ 50 $ 100
$ 30 $ 40 $ 60 $ 50 $ 30 $ 50 $ 50 $ 10
$ 100 $ 50 $ 160
The New Restaurant- Lesson 1: Goals and Budgets Picture Story & Activities Worksheet 1-2 page 1 Talk about the pictures. Listen to the story. Learn new vocabulary. VALRC Money Talks
The New Restaurant- Lesson 1: Goals and Budgets Worksheet 1-2 page 2 The New Restaurant Chen and Soo are friends. They work at a restaurant. They are busboys. They dream about opening a restaurant. It is their goal. Chen plans his budget. He saves $300 a month. He watches television. He goes to the park and plays games at home with his family. They have fun. After three years, he has $10,800. He opens a restaurant. Soo plans his budget. He spends all his money. He buys a big screen television. He travels to Disneyland and goes to the movie theater with his family. They have fun. He does not save money. After three years, Soo is a busboy. He works at Chen's new restaurant. VALRC Money Talks
The New Restaurant- Lesson 1: Goals and Budgets Worksheet 1-2 page 3 The New Restaurant - Match the picture with the sentence. VALRC Money Talks
The New Restaurant- Lesson 1: Goals and Budgets Worksheet 1-2 page 4 A New Restaurant Fill in the blanks with the correct word. Rewrite the story at the bottom. opens saves budget fun plans are busboy Chen and Soo are friends. They work at a restaurant. They busboys. They dream about opening a restaurant. It is their goal. Chen plans his. He _ $300 a month. He watches television. He goes to the park and plays games at home with his family. They have fun. After three years, he has $10,800. He a restaurant. Soo his budget. He spends all his money. He buys a big screen television. He travels to Disneyland and goes to the movie theater with his family. They have. He does not save money. After three years, Soo is a restaurant. _. He works at Chen's new Rewrite the Story VALRC Money Talks
Concentration Game and Budget Visuals- Lesson 1: Goals and Budgets Visuals 1-3 Part 1: Goals and Budgets-Activity 1-3 Concentration Game-Word Group 1 rent electric bill water bill food car payment and car insurance car repairs gas transportation bus, train, taxi telephone and cell phone bills
Goals and Budgets - Activity 1-3 Concentration Game - Word Group 2 doctors and dentists restaurant food cable TV clothes and shoes toiletries and medicines haircut send money home travel and vacations
gifts, computers, TVs and other things Part 2: Goals and Budgets-Activity 1-3-Visuals for Budget Activity
Monthly Budget Worksheet Lesson 1: Goals and Budgets Worksheet 1-3 page 1 Matching - Match each picture with a word or words car repairs food telephone and cell phone bills rent electric bill gas doctor and dentist bills water bill car payment and car insurance
transportation - bus, train, taxi VALRC Money Talks
Monthly Budget Worksheet Lesson 1: Goals and Budgets Worksheet 1-3 page 2 Matching - Match each picture with a word or words clothes and shoes cable TV toiletries and medicine restaurant food send money home
haircut travel and vacations gifts, computers, TVs, other things VALRC Money Talks Unit II: Planning for the Future
Monthly Budget Worksheet Lesson 1: Goals and Budgets Worksheet 1-3 page 3 INCOME Monthly budget for Soo and his wife Jin and their two children Soo = 1,600 Jin = 400 EXPENSES $2,000 = Total income per month Write the number your teacher says. Then, write the vocabulary word using the words from the matching activity above. $ 800 rent $ 50 electric bill $ $ $ $ $ VALRC Money Talks
Monthly Budget Worksheet Lesson 1: Goals and Budgets Worksheet 1-3 page 4 $ $ $ $ $ $ $ $
$ $ $ VALRC Money Talks
Monthly Budget Worksheet Lesson 1: Goals and Budgets Worksheet 1-3 page 5 What is Soo and Jin s Monthly Income $ 2000 What are Soo and Jin s Monthly Expenses - $ 2000 How much do they save each month? $ 0 Soo wants to own a restaurant. Soo and Jin need to save $100 a month. With your group, help them think of ways to save money every month. 1. 2. 3. 4. 5. VALRC Money Talks
Personal Budget Worksheet Worksheet 1-4 Lesson 1: Goals and Budgets Complete the budget worksheet for you and your family My goal is to save $ a month. I want to $ in months/years. Monthly Income Monthly Expenses $ from your job after taxes (you) $ Housing Expenses $ from job after taxes $ Apartment rent or home mortgage $ (wife/husband) Retirement or social security $ Property tax/home insurance $ benefits Government assistance $ Home maintenance/repairs $ Alimony/child support $ Gas and electricity $ Other income $ Water $ Total Monthly Income $ Other Expenses Car loan $ Car insurance $ Car maintenance/repairs $ Gasoline $ Public transportation (bus/metro/taxi) $ Credit card payments $ Loan payments $ Telephone $ Cell phone $ Doctor/dentist $ Insurance (other than car) $ Entertainment $ Cable television $ Restaurants and clubs $ Video rentals $ Other $ Clothing $ Alimony/child support $ Other expenses $ Cigarettes $ Gym membership $ $ $ $ Total Monthly Expenses $ What is your total monthly income $ What are your monthly expenses $ What is your monthly income after expenses (Savings) $ What are ways you can save money?
Unit 2 Saving Money Objectives: Identify vocabulary and concepts related to saving money. Understand eligibility requirements for opening a bank account. Understand the importance of saving money for emergencies. Language and/or EFF skills: read with understanding; solve problems and make decisions In this unit Activity 2-1: Savings Accounts and Related Fees Activity 2-2: The Car Accident Picture Story and Activities Activity 2-3: Necessary Documentation to Open a Bank Account Final Activity: Reflection Materials Overhead 2-A The Car Accident Picture Story Worksheet 2-2 The Car Accident Picture Story and Activities
Background Information for Teacher Reference Financial Literacy Gains Chart for Ongoing Assessment: chart that can be used throughout Money Talks lessons to record student gains in financial literacy. Using Picture Stories: Review Picture Story Technique: Letting the Pictures Tell the Story in the Teacher s Guide. U W n ar it m 2 -u S p a : v S i a n v g in M gs o A n c e c y ounts and Related Fees 1. Discuss with students: a. Do you save money? b. What do you save money for? c. Where do you save money? (Under the bed, at home, at the bank?) d. In your country, is it safe to save money at home or at a bank? 2. Next, if the following terms do not come up in the first warm up, write the words "emergency" and "crisis" on the board and ask what the words mean. a. Make a list on the board of potential emergencies or crises. b. *Note: If students only offer health-related examples, add "lose job/get fired" and "need to travel to country" as additional examples. 3. Ask the following questions for each list item. Mark items that cost money with a $. a. Does this cost money? b. Do you get a bill for this? c. How much do you think it costs? 4. Wrap-up: Discuss a. Does your family have medical insurance? b. Have you ever had a medical emergency or other kind of emergency? c. Ask students if they think it is important to save for emergencies and why.
U Pr ni es t en 2 tatio Sav n ing and M P o ra ne Materials cti y ce: The Car Accident Picture Story and Activities Overhead 2-A: The Car Accident Picture Story Worksheet 2-2: The Car Accident Picture Story and Activities Part I 1. Look at the Car Accident Picture Story on the overhead projector. 2. Covering the other pictures, look at only one picture at a time and ask questions such as a. Where are they? b. What's the matter? c. Can they work? d. Can they pay their bill? 3. Write key words and phrases on the board about saving money for emergencies. Write down one or two words per picture on the overhead. 4. After you have discussed the entire story and students have generated their own vocabulary and ideas, read the story while students look at the overhead. The Car Accident Fatima and Alina are office cleaners. Fatima buys a new dress. Alina has $1,000 in her piggy bank. They have a car accident. Alina has a broken leg. Fatima has a broken leg. Alina pays her bill. Fatima can't pay her bill. Their boss says, "No work, no pay." Alina rests at home for six weeks. She watches TV with her children. Fatima needs to move out of her apartment. After two months, Fatima says, "I have $250 in my piggy bank."
Part II Pass out Worksheet 2-2, The Car Accident Picture Story and Activities Re-read the story while students look at the pictures and the corresponding sentences. Then ask students to read the story themselves. Next, ask students to complete the matching activity, the rewriting the story activity, and the fill-in-the-blank exercise. They can do this individually then compare with a partner. When students are finished, have them get into groups of 2 or 3 and talk about ways to save money every month. Ask the groups to share their ideas and make a list on the board for students to copy. U Re n fl i e t c 2 tio S aving Money n Materials Financial Literacy Gains Chart for Ongoing Assessment 1. Ask students to write down one thing they learned in class today. It could be a new concept, a new word, or a new grammar point. 2. Students may also discuss what they learned as a class, with each student contributing one new thing. 3. Fill in the Financial Literacy Gains chart while students reflect on the unit.
Unit 2 Saving Money Materials The Car Accident Lesson 2: Saving Money Picture Story Overhead 2-A page 1 Talk about this picture. Where are they? What s the matter? Can they work? Can they pay their bill? VALRC Money Talks
The Car Accident Lesson 2: Saving Money Picture Story Overhead 2-A page 2 VALRC Money Talks
The Car Accident Lesson 2: Saving Money Picture Story and Activities Worksheet 2-2 page 1 Look at the pictures while your teacher reads the story. Then listen again and look at the words. VALRC Money Talks
The Car Accident Lesson 2: Saving Money Picture Story and Activities Worksheet 2-2 page 2 The Car Accident Fatima and Alina are office cleaners. Fatima buys a new dress. Alina has $1,000 in her piggy back. They have a car accident. Alina has a broken leg. Fatima has a broken leg. Alina pays her bill. Fatima can t pay her bill. Their boss says No work, no pay. Alina rests at home for six weeks. She watches TV with her children. Fatima needs to move out of her apartment. After two months, Fatima says I have $250 in my piggy bank. VALRC Money Talks
The Car Accident Lesson 2: Saving Money Picture Story and Activities Worksheet 2-2 page 3 The Car Accident - Match the picture with the word or words. VALRC Money Talks
The Car Accident Lesson 2: Saving Money Picture Story and Activities Worksheet 2-2 page 4 Use these words to complete the story. accident at buys $250 pay leg piggy Fatima and Alina are office cleaners. Fatima _ a new dress. Alina has $1,000 in her _ bank. They have a car. Alina has a broken leg. Fatima has a broken. Alina pays her bill. Fatima can t pay her bill. Their boss says No work, no. Alina rests home for six weeks. She watches TV with her children. Fatima needs to move out of her apartment. After two months, Fatima says I have in my piggy bank. Rewrite the story on another paper. Think about ways you can save $50 a month. 1. 2. 3. VALRC Money Talks