Lesson 5: Spending Smartly

Lesson 5: Spending Smartly

Supplement for Hands on Banking Instructor Guides:
   Middle School: Unit 2, Section 1-2, Budgeting
      (HOB Middle School Instructors Guide, pg. 20)
   High School/College: Topic 3, Lesson 2 – Have a Plan
      (HOB High School Instructors Guide, pg. 9)

Lesson Narrative:

Traditional Native people subsisted on things they found in their environment. Dwellings were made of local materials that the people could find. Plains tribes were mobile, so they used animal hides to create their dwellings, called the teepee, which were easy to pack up and move. Southwest groups used adobe to make their Pueblo homes to stay cool in the desert. Northeast people created what was called a longhouse where a whole group would live. Northwest tribes built plank houses out of cedar due to the amount of rain that fell in their area.

It was and is important for the members of the tribe to budget their resources wisely. Using too much of their stored foods would see them in the middle of winter or early spring out searching for more food.

Preliminary Work:

The previous lesson discussed how to make money – earnings. Relating back to that lesson, discuss with students how much they know about budgeting. What do they do to make sure they have enough money to pay for everything they need?

Discussion:

Discuss with the students their understanding of budgeting and saving for the future.

  1. What is a budget?
  2. What do you use a budget for?
  3. What kinds of expenses go into a budget?
  4. Can a budget help them save for the future (i.e., buying a car, going to college)?
  5. How do budgets help you have enough money for what you need?
  6. How did their ancestors “budget” their resources?

Rsearch:

  1. Have your students research the variety of different ways of budgeting. When they find one that they think will work for them, have them create a budget for themselves.
  2. Have them discuss with family members how they approach making a budget. Do they use a banking app? A spreadsheet? Or handwritten notes?
  3. What makes budgeting important and why?

Presentations:

Have students report out to the class their findings from their research.

Wrap up Journaling:

This journal entry will give the students a chance to reflect on what they have learned in this lesson.

  1. Have your students write out or paste a copy of the personal budget they created.
  2. How do they see themselves using this budget?
  3. Ask students what more information they would like on the subject.
  4. Let students know the next topic is “True Wealth” and ask them to come prepared to discuss their experiences in earning money.

Sample Narrative Activities

  • Teacher or elder telling a traditional tribal story related to the topic
  • Explore career paths in STEM
  • Review Budgeting Tips in Supplemental Materials
  • Interview someone at a bank or CDFI. Visit one online. https://www.nwaf.org/2018/06/06/see-how-native-cdfis-are-a-win-win-inves...
  • Create a budget for something they want to save up for
  • Discuss what they would like to do after high school