Ask the class to look at the book cover on the opposite page and begin with a discussion about spending plans, страница 2

·  What questions do you have about completing your project?

Summary:

Ask students to explain their answers to the following question:

What do you hope to learn by completing this project?

Project 1 Create a written instructional manual

Write an instruction manual: “How to develop an efficient spending plan?” Among the topics you should address in your instruction manual are 1) the need for a spending plan 2) the budgeting process; 3) creating a sample spending plan; and.

To prepare for your project, you’ll need to access the three tutorials below. Follow the directions that come with the tutorials. After completing this preparation, you’ll be ready to put together your instruction manual.

Project 2 Create an instructional Video

Create a five to ten-minute instruction video, “How to develop an efficient spending plan.” Among the topics you should address in your instruction manual are 1) the need for a spending plan 2) the budgeting process; 3) create a sample spending plan.

To prepare for your project, you’ll need to access the three tutorials below. Follow the directions that come with the tutorials. After completing this preparation, you’ll be ready to put together your instruction manual.

Project 3 Create an On-line Instruction Manual

Create a four-page on-line instruction manual, “How to develop an efficient spending plan?” Among the topics you should address in your instruction manual are 1) the need for a spending plan 2) the budgeting process; 3) create a sample spending plan.

To prepare for your project, you’ll need to access the three tutorials below. Follow the directions that come with the tutorials. After completing this preparation, you’ll be ready to put together your instruction manual.

Tutorial 1: On the approaches to a spending plan.

Access: SP (110 – 3) – SP (154 – 11)/Hand Posters.pdf/ Bank of Information folder

Study the information given on the indicated hand posters and answer the following questions:

·  Why does a person need a spending plan? Do You need it? Add your own argument to the ones already mentioned.

·  Is it really so important to set up financial goals and what is the best way to set them up?

·  Do needs and wants mean the same to you? If they are different what do you give preference to?

·  Describe the basic methods of tracking one’s spending. Do you have your own method? If you do, share it with the audience.

Tutorial 2: Budgeting Process

Access: http://militaryfinance.umuc.edu/planning/fin_5_step_budget.html or The Five-Step Budget Process.doc/Bank of information folder

Read the section titled, The Five-Step Budget Process. Answer the following questions:

Summarize the five-step budgeting process described in this reading.

Which of the five steps is the most important in developing an effective budgeting process? Explain.

Which of the five steps would you find the most challenging one?

Explain what the author means by saying that after designing a budget “your life becomes easier to manage.”

Tutorial 3: Spending planner

Access: I am spending planner.pdf/Bank of information folder

·  You are supposed to fulfill this task with the help of your family and fulfill the necessary information on behalf of the head of your family.

·  Go directly to: I am spending_planner.pdf / Bank of Information. Starting with the section Six steps for success follow the instructions on the worksheet

·  In the section Keep a spending calendar fill in the dates for the coming month consulting with your family.

·  In the section Set up your plan set goals, identify the expected income for the month, review last month’s spending, put numbers in the plan ONLY after consulting with your family members and developing your plan with the reference to their answer.

·  After finishing your spending plan discuss the following questions with your family members:

o  Discuss pros and cons of creating a spending plan;

o  How can they explain why so many people do not make a spending plan?

o  Which part of making your family spending plan did you and they find most difficult? Explain.