Money | Project Based Learning
Students work in pairs to create a realistic monthly budget for a Grade 9 student using a provided income scenario. They identify needs and wants, calculate totals, and make spending choices within a fixed amount. The lesson is simple, practical, and focused on real-life money skills.
| Term | Definition |
|---|---|
| Income | Money received, such as allowance, gift money, or wages. |
| Expense | Money spent on goods or services. |
| Budget | A plan for how to spend money. |
| Need | Something necessary, like food or transport. |
| Want | Something helpful or enjoyable, but not necessary. |
| Total | The sum of amounts added together. |
Ask students to name things a teenager might spend money on. Write responses on the board and group them into needs and wants.
Share ideas and sort examples into needs and wants.
Present the project: students will build a simple monthly budget for a Grade 9 student with a fixed amount of money.
Listen, ask questions, and preview the task.
Show one example budget on the board. Demonstrate adding expenses and checking whether the budget stays within the income.
Follow along and help calculate the totals.
Distribute budget worksheets and expense cards. Circulate, support calculations, and prompt students to justify choices.
Work in pairs to choose expenses, calculate totals, and adjust the budget so it balances.
Invite a few pairs to share their budget choices and explain why they included certain expenses.
Present their budget and explain their thinking.
Review key ideas: income, expenses, needs, wants, and balancing a budget.
Answer quick review questions and reflect on one thing learned.
Students complete a quick oral exit reflection: name one need, one want, and one way to keep a budget balanced.