The purpose of this lesson is to equip students with the knowledge needed to be able to budget their money wisely. They need to be able to shop for groceries, cleaning supplies, and hygiene items without overspending. They also need to be able to see how much money they are bringing in and how much they are spending and budget accordingly. This lesson is also beneficial for working in retail stores.
At the end of this lesson, students will be able to:
· Solve budgeting issues using estimation, addition, subtraction, multiplication, and division
· Demonstrate an understanding of budgeting and money management
· Create a monthly budget plan for their individual households
Student Target
I can use estimation and mathematical operations to establish a budget.
CCR Focus Standards
Number and Ratios - Level D
Solve real-world and mathematical problems involving the four operations with rational numbers.
Algebra and Functions - Level D
Solve multi-step real-life and mathematical problems posed with positive and negative rational numbers in any form (whole numbers, fractions, and decimals), using tools strategically. Apply properties of operations to calculate with numbers in any form; convert between forms as appropriate; and assess the reasonableness of answers using mental computation and estimation strategies. For example: If a woman making $25 an hour gets a 10% raise, she will make an additional 1/10 of her salary an hour, or $2.50, for a new salary of $27.50. If you want to place a towel bar 9 3/4 inches long in the center of a door that is 27 1/2 inches wide, you will need to place the bar about 9 inches from each edge; this estimate can be used as a check on the exact computation.
Supporting Standards
Find a percent of a quantity as a rate per 100 (e.g., 30% of a quantity means 30/100 times the quantity); solve problems involving finding the whole, given a part and the percent.
Fluently add and subtract within 1000 using strategies and algorithms based on place value, properties of operations, and/or the relationship between addition and subtraction.
Standards for Mathematical Practice
Make sense of problems and persevere in solving them. (MP.1)
Use appropriate tools strategically. (MP.5)
Look for and make use of structure. (MP.7)
KYAE Employability Standards
E.7 Accurately analyze information and respond appropriately.
E.8 Interact with others in a professional manner.
