Objective
By the end of this lesson, you will be able to understand and apply financial math concepts in real-life scenarios.
Materials and Prep
- Pen and paper
- Calculator
- Basic understanding of arithmetic (addition, subtraction, multiplication, division)
Activities
Activity 1: Budgeting Challenge
Plan a budget for a week considering expenses like groceries, entertainment, and savings. Track your actual spending and compare it with the budget at the end of the week.
Activity 2: Investment Simulation
Research different investment options (stocks, bonds, mutual funds) and simulate investing a certain amount of money. Track the growth of your investment over a period of time.
Activity 3: Loan Analysis
Calculate the total cost of a loan by analyzing the interest rates, repayment period, and monthly payments. Understand how interest affects the total amount repaid.
Talking Points
"Financial math helps us make informed decisions about money."
"Budgeting is like creating a plan for your money to make sure you spend it wisely."
"Investing is like planting seeds that grow over time to give you more money."
"Loans involve borrowing money and paying back more than you borrowed due to interest."