Welcome to the money management section. All the information and workshops in this section was researched and developed by Julia Drew and Brittany Slauenwhite.
The following lesson plan and all the materials can be downloaded for printing and sharing. Please credit HeartWood Centre for Community Youth Development and the Lunenburg District Office of Community Services, Nova Scotia when using the materials. If you use these materials please let us know so we can track where they are being used. If you have any suggestions for changes please let us know.
Created by Julia Drew and Brittany Slauenwhite
Objectives:
Approximate time:
Materials, props or technology; room set up
Workshop Details and Script
1. Introduction and Ice Breaker
Facilitator:
How are you all today? My name is _____. Today we are going to learn about money management.
But first, I would like to get your juices flowing to start thinking about money managment. What I would like you to do is take a card out of the box. You will then introduce yourselves, read your question on your card out loud and then answer it.
Pass around box with question cards.
Participants introduce themselves and answer questions.
2. Needs and Wants Activity
Facilitator:
I’m going to pass out 6 sticky notes each, please write out anything that you have bought in the last week, please only write one item on each sticky note. If you can’t remember last week, then the past couple days is fine.
Wait until participants stop writing, then write NEEDS on one side of the white board and WANTS on the other side. Draw a vertical line between the two.
Facilitator invites the group to put post-it notes on the board under the category that makes sense for what they wrote.
Facilitator:
Okay, come on up and put your sticky notes where you think they belong.
Participants put notes up on board.
3. Group Discussion
Facilitator selects a few from each category to have a discussion on them. There will likely be some that fall on the line, or some that may seem in the other category. It is important not to judge where people put them, but have a discussion on why we feel they should belong here or there.
Ask questions like:
Objectives:
Approximate time:
Materials, props or technology; room set up
Workshop Details and Script
1. Budget Scenario Read off this scenario to participants:
You are a 19 year old moving out on your own for the first time, you rent an apartment in town, you are out of school, you are single, have no children or no pets, you have a car, you have a job that pays minimum wage and you work 5 days a week 8 hour days, on average you earn $1500 monthly.
2. Budget Chart:
Make a T chart on the white board and label one side “Bills” and the other side “Extras”
3. Group Generates Bills:
Ask participants what they think a 19 year old living independently would have for monthly bills and then ask how much to budget for each bill. Keep in mind to be realistic on your costs and use the opportunity to have a discussion on how much things would cost in real life so they have something to think about before they live independently.
Write down the information they give you on board under the Bills column.
If the group has a difficult time knowing the costs of things, here are some suggested monthly costs for bills:
4. Group Generates Extras:
Ask participants what they think a 19 year old might want for extras in their life? Again be realistic on costs.
Write these up on the board under the Extras column
Some suggested monthly costs for extras are:
5. Group Discussion:
Add up the monthly bills and extras and compare this to monthly earning and if you are in debt or have savings at the end of every month.
Suggested Questions:
Objectives:
Approximate time:
Materials, props or technology; room set up
Workshop Details and Script
1. Game Rules:
2. Group Discussion:
pdf
Download Lesson Plan
(164 KB)