Lesson Notes By Weeks and Term - Senior Secondary 2

Budgeting

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Term – 3rd Term

Week: 10

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Food and Nutrition

Topic:-       Budgeting

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to:            

  1. Explain some terms in budgeting
  2. State the factors to consider in preparing a budgeting
  3. Outline the importance of budgeting

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on consumer education

Students pay attention

STEP 2

EXPLANATION

She explains some terms used in budgeting. She further discusses the factors to consider when preparing a budget.

Students pay attention and participates

STEP 3

DEMONSTRATION

She outlines the importance of budgeting

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

BUDGETING

BUDGETING TERMS

  1. Family Income:The incomes of a family include the money and other economic resources available to the family for meeting their needs.
  2. Money Income:is the total amount of money which the family has at a given period. It is the purchasing or buying power of a family at a given period.
  3. Gross Income:is the total amount of money from a person’s income.
  4. Net Income:is the amount of money that remains after deductions, such as tax, water rate and levies.
  5. Budget:is the plan of how to spend the family income. The budget is normally prepared based on the net income.
  6. Expenditure:is the amount of money spent on the goods and services which the family needs.
  7. Needs: the family needs are grouped into two; primary needs which are the needs that the family cannot do without or postponed. They food, shelter, clothing. Secondary needs are those needs which the family can do without e.g buying a pair of new shoes, utility, furniture e.t.c.

 

FACTORS TO CONSIDER IN PREPARING A BUDGET

  1. The family net income
  2. Family needs
  3. The nature of the capital expenditure planned for
  4. The taste and value of the family
  5. The number of dependant of the family or family size
  6. The season of the year
  7. Inflation

 

IMPORTANCE OF FAMILY BUDGET

  1. It helps the family to make wise decision about expenditure
  2. It helps the family to spend money on what they really need
  3. It prevents wasteful spending of family money
  4. It helps the family to see how they spend their money
  5. It helps to prevent impulsive buying
  6. It helps to train children on the use of money.

 

EVALUATION:    1. Mention and explain four budgeting terms

  1. Enumerate five factors to be considered in the preparation of a budget
  2. State four importance of budgeting

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively