Percentage, Money Management

By the end of the lesson, the students will be able to demonstrate knowledge of budget planning and banking. Students will have knowledge of words associated with banking and budgets including interest, percent, and budget Students will of a working knowledge of percentages and how to use this knowledge as it applies to banking, interests, loans and budgeting. Students will be able to develop a monthly budget given a particular income. Students will be able to calculate the interest on a purchase.

Knowledge: The student can calculate total cost on an item given various tax rates. 2. Comprehension: Given two different costs on a particular item, with different tax rates, the student will be able to determine the best deal. 3. Application: The student will articulate the use of this knowledge in their daily life. 4. Analytical Thought: Students will begin to understand how this knowledge can assist them with problem solving regarding income and expenditures. 5. Synthetic Thought: Students will be able to explain how to budget monthly to assure that all costs are covered.

6. Evaluation: The students will understand the need to budget and shop around for financial security. Standards: Math – The student uses calculations for percentage correctly Material: 1. Calculator 2. Paper for the purpose of budget work Anticipatory Set: The teacher will ask the students about their knowledge of budgeting. They will discuss the importance of budgeting. Students will be asked to identify examples of when percentages can be useful into their everyday life. Input: 1. The teacher will allow for brief discussion on the examples calculated in class

2. The teacher will allow time for discussion about other uses for percentages 3. The teacher will review the vocabulary related to the concepts 4. The teacher will allow class time to work additional problems related to percentages and money management. Modeling: 1. The teacher will construct examples for the students to complete in class. Prior to completing the problems, the teacher will review the vocabulary and the methodology for calculating percentages. The teacher will complete a problem related to the assignment. 2.

When the students have completed the in class assignment, teacher will complete another larger and slightly more complex problem using the percentage concepts, perhaps related to credit use, as an example to looking forward to use of percentage. Check for Understanding The teacher will engage the class in discussion regarding money management and percentages to verify that students comprehend. 1. Memory: Can the student recall the meaning of the associated vocabulary words. 2. Translation: The students will be able to link the percentage concept to the real world

3. Interpretation: Students can explain the use of percentage in different situations. 4. Extrapolation: Students will be able to come up with other uses for percentage calculations 5. Application: Students can complete assignments showing skills of methodology 6. Analysis: Students will be able to use percentage skill to make decisions on purchases. 7. Synthesis: Students can understand the use of percentages in their day to day life and understand values. 8. Evaluation: Students will complete assignments adequately.

Checking through activities 1. The teacher will monitor the progress students make as they work through the problems. Teacher will answer questions and re explain concepts and methodology as needed. 2. Teacher will have a second opportunity to assess progress during discussion Guided Practice 1. Imagery of money management story regarding the purchase of a particular item in two different states at differing tax rates 2. Discussion for purpose of elaboration and comprehension 3. Vocabulary words related to money management and percentage

Independent Practice Students will be given home assignment to complete a more elaborate project related to money management Closure 1. Teacher will be able to demonstrate through each activity, that students have a working knowledge and understanding of percentages. 2. The lesson will introduce the concept of money management and fiscal responsibly Adoptions for Learning Disabilities The teacher may choose to assign the classroom task as a group assignment to allow learning disabled students peer support.

Students with perceptual disabilities can be given the task in a tangible puzzle assignment where percentages of the whole are experienced in a tangible way. For example Extensions for Gifted Students may choose to move ahead to more complex assignments involving credit card interest rates as appropriate Possible Connections to Other Subjects This lesson can be used in conjunction with any life skills class in which students are learning to plan for future financial responsibility. The vocabulary can be incorporated into 8th grade English vocabulary units.