Class: Junior Secondary School 3 (JSS3, JSS 3)
Term: 1st Term
Week: 2
Age: 14 years
Duration: 45 minutes
Subject: Pre-Vocational Studies
Curriculum Theme: Home Economics
Previous Lesson: Family Budget, Its Importance and Family Needs
Topic: Preparing Family Budget
Subject Matter: Factors to consider in preparing family budget, Procedures or steps in preparing family budget.

Specific Objectives

By the end of the lesson, pupils should be able to:

Cognitive Domain:
(a) Identify and explain the factors to consider when preparing a family budget.
(b) List and describe the steps involved in preparing a family budget.
Affective Domain:
(a) Appreciate the need for proper budgeting in managing family resources.
Psychomotor Domain:
(a) Demonstrate the preparation of a simple family budget using examples.
Social Domain:
(a) Work cooperatively in groups to discuss and create sample family budgets.

Reference Materials

The following resources was used in planning this lesson:

9 Years Basic Education Curriculum
Lagos State Unified Scheme of Work for Junior Secondary Schools
Ramsey Solutions – How to Create a Family Budget
Relevant Textbooks

Instructional Materials

The teacher will teach this lesson with the aid of:

Charts showing examples of family income and expenses
A sample family budget worksheet
Flash cards for keywords
Whiteboard and markers
Calculator for demonstration

Rationale for the Lesson

This lesson helps students understand how to plan and control family income and expenses effectively for better financial management and family well-being.

Prerequisite/Previous Knowledge

Pupils are already familiar with the meaning of income, expenditure, and basic money management from previous lessons and home experiences.

Lesson Content/Board Summary

Preparing Family Budget

Factors to Consider in Preparing Family Budget

Before a family budget can be prepared, some important factors must be carefully considered to make the budget realistic and effective. These factors help ensure that income is properly allocated to meet family needs.

The following are factors to consider when preparing a family budget:

Family Income: The total money available to the family from all sources such as salary, business, or gifts.
Family Size: The number of people in the family determines how income will be shared among needs.
Needs and Priorities: The most important needs like food, shelter, and clothing must come first.
Family Goals: The budget should reflect the short-term and long-term goals of the family.
Economic Condition: Inflation or increase in prices of goods and services affects how the budget is planned.
Regular and Irregular Expenses: Consider daily, monthly, or occasional spending such as school fees or rent.
Savings and Emergencies: A portion of income should be reserved for future needs and unexpected situations.

Procedures or Steps in Preparing Family Budget

Preparing a family budget involves a series of organized steps that guide how income is distributed among different family needs.

The following are the steps in preparing a family budget:

Determine Total Income: Identify the total amount of money the family expects to receive within a given period.
List Family Needs and Wants: Write down all the items and services the family requires, grouping them into needs and wants.
Estimate the Cost of Each Item: Find out how much each need or want will cost.
Arrange Needs According to Priority: Start with the most important needs before others.
Match Income with Expenditure: Compare the total estimated expenses with total income to ensure spending does not exceed income.
Make Necessary Adjustments: If expenses are higher than income, remove or reduce less important items.
Keep Record and Review Regularly: Maintain written records and review the budget periodically to make necessary corrections.

Teaching Methods/Instructional Techniques:

Discussion, Lecture, Explanation, Demonstration, Question and Answer, Group Work, Visual Aids

Instructional Procedures

To deliver this lesson, the teacher will adopt the following steps:

Step 1: Introduction

Time: 5 minutes
Teaching Skill: Set Induction
Teacher’s Activity: Teacher asks pupils how their parents plan for household expenses and links responses to the idea of family budgeting.
Pupils’ Activity: Pupils respond and share experiences of how families manage income and expenses.
Learning Point: Pupils are motivated and ready to learn about preparing a family budget.

Step 2: Factors to Consider in Preparing Family Budget

Time: 10 minutes
Teaching Skill: Explanation
Teacher’s Activity: Teacher explains the major factors to consider before preparing a family budget and displays a chart illustrating them.
Pupils’ Activity: Pupils listen attentively, take notes, and ask questions for clarification.
Learning Point: Pupils understand the key factors that affect family budgeting.

Step 3: Steps in Preparing Family Budget

Time: 10 minutes
Teaching Skill: Discussion
Teacher’s Activity: Teacher discusses and outlines the procedures involved in preparing a family budget using examples.
Pupils’ Activity: Pupils participate in the discussion and list the steps in their notebooks.
Learning Point: Pupils can list and describe the steps in preparing a family budget.

Step 4: Demonstration of Family Budget Preparation

Time: 10 minutes
Teaching Skill: Demonstration
Teacher’s Activity: Teacher demonstrates how to prepare a simple family budget using a sample income and expenditure table.
Pupils’ Activity: Pupils observe and practice by preparing their own simple budget in groups.
Learning Point: Pupils gain practical skills in preparing a family budget.

Step 5: Note-Taking

Time: 5 minutes
Teaching Skill: Reinforcement
Teacher’s Activity: Teacher writes the lesson summary on the board for pupils to copy.
Pupils’ Activity: Pupils copy the note into their exercise books.
Learning Point: Pupils have a complete record of the key points of the lesson.

Step 6: Evaluation/Review

Time: 3 minutes
Teaching Skill: Questioning
Teacher’s Activity: The teacher evaluates the learning by asking the following questions:

Mention four factors to consider when preparing a family budget.
List the steps in preparing a family budget.
Why is it important to review the family budget regularly?
Pupils’ Activity: Pupils respond orally to the questions.
Learning Point: Pupils demonstrate understanding of the lesson objectives.

Step 7: Conclusion

Time: 2 minutes
Teaching Skill: Reinforcement
Teacher’s Activity: Teacher summarizes the key points of the lesson and encourages pupils to help their parents plan family budgets at home.
Pupils’ Activity: Pupils listen and ask questions where necessary.
Learning Point: Pupils appreciate the importance of proper financial planning for family well-being.

Lesson Keywords

Budget – a plan for spending and saving money.
Income – the total money received by a family.
Expenditure – money spent on goods and services.
Priority – important items that come first in spending.
Savings – money set aside for future or emergencies.

Differentiation

Teacher provides additional explanations and examples for slower learners, while advanced learners create detailed sample family budgets during group work.

Note for teachers using this lesson plan

Ensure examples used are realistic and relatable to students’ home experiences. Encourage active participation and emphasize the importance of saving and prioritizing needs.