### Lesson Plan: Buying and Spending
### Grade Level: Primary 6
### Subject: Home Economics
---
**Duration**: 60 minutes
**Objective**: By the end of the lesson, students will be able to understand the concepts of budgeting, making informed purchasing decisions, and the importance of saving money.
---
#### Materials Needed:
- Whiteboard and markers
- Chart paper and markers
- Stickers or play money
- Printable budgeting worksheets
- Storybook or short video about money management (if available)
- Various household items for example: play food, clothing, or toys for a mock store
---
### Lesson Outline:
#### Introduction (10 minutes):
1. **Greeting and Warm-up**:
- Begin with a fun, interactive question: "What would you buy if you had $50?" Allow each student to share their ideas.
2. **Objective Overview**:
- Explain the aim of the lesson: To learn how to wisely buy things, manage money, and understand the importance of saving for the future.
---
#### Main Content (35 minutes):
1. **Discussion** (10 minutes):
- Ask students if they have ever bought something with their own money. What did they buy? How did they decide what to buy?
- Introduce and discuss key terms: Budget, Need vs. Want, Savings.
2. **Story/Video** (5 minutes):
- Read a short story or show a brief video about a child who learns about saving and spending wisely. Discuss the moral of the story.
3. **Interactive Activity** (20 minutes):
- **Mock Store Activity**:
1. Divide students into groups. Each group receives a set amount of play money.
2. Set up a mock store with various items labeled with price tags.
3. Instruct groups to make a shopping list of items they need (e.g., food, school supplies) versus items they want (e.g., toys).
4. Allow students to "shop" in the mock store while staying within their budget.
5. Discuss as a class which items each group chose and why. Did they stick to their needs or splurge on their wants?
---
#### Conclusion (10 minutes):
1. **Reflection**:
- Have students reflect on the activity. What did they learn about buying and spending?
- Discuss why it is important to prioritize needs over wants and save money for future necessities.
2. **Q&A**:
- Open the floor for any questions from students about money management and budgeting.
---
#### Homework (5 minutes):
- **Budget Worksheet**:
- Distribute budgeting worksheets for students to complete at home with their parents or guardians. They will plan a small budget using pretend or real allowances.
**Closing Remarks**:
- Summarize the main points of the lesson and remind the students of the importance of making wise financial choices.
**Note for Teacher**:
- Provide positive reinforcement and encouragement throughout the lesson, ensuring that all students participate and understand the concepts.
---
**Assessment**:
- Monitor participation during the mock store activity and discussions.
- Review completed homework worksheets to assess understanding of budgeting concepts.
---
### Additional Resources:
- Suggested storybooks: "Alexander, Who Used to Be Rich Last Sunday" by Judith Viorst.
- Suggested video: “Benny’s Pennies” (available on educational video platforms).
---
By engaging students through interactive activities and relatable examples, this lesson aims to instill fundamental financial literacy skills at an early age. Happy teaching!