Republic of the Philippines

Department of Education
Region IV-A CALABARZON
Division of Tanauan City
Tanauan Institute Inc.
J.Gonzales St. Barangay 4. Tanauan City, Batangas
S.Y. 2020-2021
A Detailed Lesson Plan in ED 110
June 16, 2021

I. Objectives
At the end of the lesson, the student will be able to:
1. determine their needs and wants.
2. define financial literacy.
3. understand the meaning of budgeting and its importance.
4. perform the activity with cooperation and think about fast spending decisions.

II. L
Lesson: Financial Literacy (Budgeting)

Materials:
 PowerPoint Presentation
 Visual Aids

References:
 https://www.investopedia.com/terms/f/financial-literacy
 https://en.wikipedia.org/wiki/Financial_literacy

III. Procedure
Teacher’s Activity Student’s Activity
A. DAILY ROUTINE

1. Prayer

“May I ask everyone to stand for our opening

prayer?”

Our Father, who art in heaven, hallowed be thy name; Our Father, who art in heaven, hallowed be thy name;
thy kingdom come; thy will be done on earth as it is thy kingdom come; thy will be done on earth as it is
in heaven. Give us this day our daily bread; and in heaven. Give us this day our daily bread; and
forgive us our trespasses as we forgive those who forgive us our trespasses as we forgive those who
trespass against us; and lead us not into temptation, trespass against us; and lead us not into temptation,
but deliver us from evil. Amen but deliver us from evil. Amen

2. Greetings

Good afternoon class! How is your day so far? Good afternoon, ma’am. We are good.

That’s good to hear! So, can I expect a full blast of Yes, ma’am!
energy and active participation from you?
 3. Classroom Management

Before you take your seats, I would like to request (The students will arrange the chairs and pick up the
everyone to arrange your chairs properly and make messes.)
sure there are no trashes around you.

4. Checking of Attendance

I think everyone is present. I’m so glad that everyone

understands the reasons of coming to school
regularly.

B. MOTIVATION
ACTIVITY
“Wants or Needs”

Before we begin our discussion, you will be having Yes, Ma’am! (The students will perform the
an activity. I have here some lists of words and you activities)
will place and arrange it according to your needs and
wants. Are you all ready?

NEEDS WANTS

House Food Cellphone Computer Car

Medication Travel Television Designer Clothes

Life Insurance Coffeehouse drinks

Electronics (Refrigerator)

C. ANALYSIS

 Based on the activity that you have done, is it  It is kind of hard ma'am because some of the
hard to determine your needs and wants? things listed are actually needed but considered as
wants, just like the cellphone which becomes part
of our lives but not considered as need. After all,
we can live without it.
Differentiating between wants and needs can be
difficult for many people, and if you can’t tell the
difference, it may hold you back and prevent you
from learning how to budget your money. As you
have said some items are needs, but many of the
things we buy are actually wants. And, confusing
wants with needs may be causing you a lot of
financial stress.

 Do you think it's important to know your wants  Learning how to control your spending will
 and needs? Why? help you to save for years into the future, even
as your income grows.
Yes, very good! Determining your wants and needs
will help you learn to make better choices and it
will help you stay out of debt and reach financial
freedom sooner. Also, it helps the individual to
budget their money and to avoid overspending.
Everyone must be financial literate, and that is our
lesson for today.

D. ABSTRACTION
Financial Literacy
 Who can define financial literacy?  Financial literacy is the knowledge necessary to
make important financial decisions. It can help
with decisions on budgets, debt, and investing.
Yes, Financial literacy is the foundation of your
relationship with money, and it is a lifelong journey
of learning. The earlier you start, the better off you
will be because education is the key to success when
it comes to money. The term financial literacy refers
to a variety of important financial skills and concepts.
Financially literate people are generally less
vulnerable to financial fraud.
For example, a financially literate person knows that
if they take home $2,000 a month in pay, they cannot
spend more than $2,000 each month without going
into debt. Someone with a higher level of financial
literacy may know that they should save some of that
$2,000 for the future.

 Do you think being financially literate is  Yes, it is important because financially literate
important? consumers not only manage money with more
confidence but also have a better chance of
handling the inevitable ups and downs of their
financial lives by understanding how to prevent
Very good! it helps us understand the value of money and manage issues as they arise.
so we can handle our finances better. Being
financially literate will teach us the importance of
budgeting and saving. We can better understand our
wants and needs and can prioritize things according
to their essence in our daily lives. The main benefit of
financial literacy is that it empowers us to make
smart financial decisions. It provides the knowledge
and skills we need to manage money effectively
budgeting, saving, borrowing, and investing. This
means that we're better equipped to reach
our financial goals and achieve financial stability.
Financial literacy is the ability to understand and
effectively use various financial skills, budgeting,
save, and investing. Let us talk about budgeting.
Budgeting
 I know that you already have experience in
 Ma’am, budgeting is financial planning for a
handling money, and I'm certain that you are
defined period, often for months or years.
familiar with budgeting, now who can tell me the
 meaning of budgeting?
Very good, Budgeting is the process of creating a
plan to spend your money. This spending plan is
called a budget. Creating this spending plan allows
you to determine in advance whether you will have
enough money to do the things you need to do or
would like to do. Budgeting is simply balancing your
expenses with your income. If they don't balance and
you spend more than you make, you will have a
problem. Many people don't realize that they spend
more than they earn and slowly sink deeper into debt
every year.
If you don't have enough money to do everything you
would like to do, then you can use this planning
process to prioritize your spending and focus your
money on the things that are most important to you.

 Is it important to learn the art of budgeting?  Yes ma'am, because through good budgeting we
can avoid overspending and tons of debt. It also
helps to save money.
That is right, since budgeting allows you to create a
spending plan for your money, it ensures that you
will always have enough money for the things you
need and the things that are important to you.
Following a budget or spending plan will also keep
you out of debt or help you work your way out of
debt if you are currently in debt.

7 Steps to a Budget Made Easy

Avoid a potential personal financial crisis; get back
to basics with a budget you can stick to. Here's how
to start:
Step 1: Set Realistic Goals
Goals for your money will help you make smart
spending choices. Ask yourself: What do I want my
finances to look like in one year? Decide what’s
important to you and start there.
Step 2: Identify your Income and Expenses
You probably know how much you earn each month
– but do you also know where it all goes? Find out by
tracking what you’re spending. Spend as you
normally would, but for a few weeks, jot down every
cent you spend. It’s easy and you might be amazed
by what you find out.
Step 3: Separate Needs and Wants
Ask yourself: Do I want this or do I need it? Will
spending this money get me closer to my financial
goals or further away? Can I live without it? Set clear
priorities for yourself and the decisions become
easier to make.
Step 4: Design Your Budget
Make sure that you are not spending more than you
make. Balance your budget to accommodate
everything you need to pay for. One easy way to do
this is with our free, easy-to-use budget calculator
spreadsheet and worksheet that's built for Canadians.
Step 5: Put Your Plan into Action
Match your spending to when you receive your
income. Decide ahead of time what you'll use each
pay cheque for. Ask yourself: Have I allocated
money for my necessities (housing, food, utilities,
transportation, etc.)? Have I put money aside for my
debt payments, unexpected expenses, savings, and
the fun stuff? This will protect you from going into
debt further because you won't rely on credit to pay
for your living expenses.
Step 6: Seasonal Expenses
You know that things will "just come up" – school
expenses, new shoes, or annual membership. Set
money aside to pay for these expenses so you can
afford them without going into debt.
Step 7: Look Ahead
Getting on track with a budget can take a month or
two. You’ve lived all this time without a spending
plan, so give yourself time to adjust. Don’t be afraid
to ask for help if things aren’t falling into place –
help is just a phone call away.
 Yes, ma'am, everything is clear.
That’s it, we are done discussing financial literacy
and budgeting. Do you understand the lesson?

Great, now let's apply what you have learned.

E. APPLICATION

For this activity you will be going to play the

Bouncing Ball Budgets game it is designed for you to
think about fast spending decisions. The ball has an
allotted amount of 10,000, the money must be exactly
enough for the class expenses. I will give you 3
minutes to finish the activity.

Direction: The teacher will be going to play the

music while the students are passing the ball. The
passing will stop as the music stop and the student
who holds the ball will say what he/she wants to buy.
The total amount of expenses must be equal and not
exceed 10,000.
 Yes Ma’am! (The students will perform the
 Are you guys ready? activity)

 Yes Ma’am!
 Time’s up! Great job class, did you have fun?
The essence of this activity is for you to know and
realize that it is hard to budget our money without
knowing our financial goals, and where will we going
to spend it.
 Yes Ma’am!
 Is budgeting important? Yes, or no?  Yes Ma’am!
 Is everything clear?

F. ASSIGNMENT

Instruction: Search about saving and investing and its

importance.

That's all for today, class dismissed.

Prepared by:
BALOG, MARJORY

Prepared to:
MS. ADELAIDA M. ORUGA
Teacher in ED110