Lesson 5

Syllabus Dot-Point(s)

Calculate net earnings after deductions and taxation are taken into account

Lesson Goal

By the end of this lesson, students will demonstrate their ability to plan and budget their money using pinterest and google sheets.

Outcomes

MA5.1-1WM Uses appropriate terminology, diagrams and symbols in mathematical contexts
MA5.1-2WM Selects and uses appropriate strategies to solve problems
MA5.1-4NA Solves financial problems involving earning, spending and investing money

Working mathematically

Use classifieds and online advertisements to compare pay rates and conditions for different positions (Problem Solving)
Read and interpret examples of pay slips (Communicating)

Class

Stage: 5.1

Ability: Mixed

Duration: 50 minutes

Class Activities

Introduction

5 mins

Recap: Ask if students have any questions from homework assigned in the previous lesson. Quickly address any misconceptions. Explain and demonstrate working-out on the whiteboard. Students copy this into their exercise books.
Briefly explain what will be learned during this lesson.
Distribute Exit Slip to students

Activity

20 mins

Students sign up for a Pinterest account where they create a vision collage that reflect their personalities, identities, and their hopes and dreams e.g. hobbies and interests. See "Sample: Vision Board Ideas".
Students create a table on google docs as seen in table 1. Students are to have a minimum of four rows in their table.
SCENARIO: Students are to use their imaginations (if they do not already have a part-time job) to consider how they may financially support the pursuit of their aspirations without the help of their parents/guardians. In Table 1, under "Goals" they are to outline what they wish to accomplish. Under "Costs" they will need to research and plan how much this will cost and therefore, how much they will need to earn and save weekly, monthly, and yearly to accomplish their visions.

Mid-Point (AFL): Monitor classroom. Ensure each group is on task and understands concepts being taught. Clarify misconceptions. Ask if students have made any interesting connections between ideas. Share these with the class.

Visual Literacy Activity

20 mins

In groups of four, students use ICT to research and create realistic and relevant scenarios to write up a budget for weekly expenditure for an average household for on groceries, bills, leisure, etc.
This will be completed using a spreadsheet, after calculating their earnings and item deductions. Furthermore, dedications should also include HECS, insurance, superannuation, loan repayments eg. car loan. The teacher can explain/demonstrate a few related examples from their preferred textbook.
Students represent this information on an appropriate table. They must include a graph, such as a pie chart using colour codes on google sheets to visually track their spending.

Conclusion

5 mins

Homework: assign related exercises in your preferred textbook. Remind students to label questions they have trouble with for clarification at the beginning of the next lesson.
Briefly explain the relationship between this and the following lesson
Students return completed Exit Slip (AFL)
Students show completed homework from previous lesson

Extension

Challenge Questions

Excelling students who have successfully completed class activities are to move onto this section. Students can play a game on budgeting.

PlayReady to get your game on? Test your money skills and give your brain a workout with these fun and educational games.

Future Directions

Educators are encouraged to keep a teacher’s journals for the following critical reflections, based on class observations and feedback from exit slips:

What went well, and why?

Did students understand the concepts?

Were students engaged?

What improvements can be made, and how?

Which students may require extra support, and how?

Which students may require more challenging content?

Are there additional resources that can be added to this lesson?

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