Long Term Money Management for Adults


This lesson focuses on developing basic money management skills for adults. The specific time focus for these skills is on multiple months to years. The intended audience is for adults ages 18 and above.The lesson will include elements of reading and writing and listening, and will focus on authentic texts, videos, facts and figures cited from expert research and reports.This lesson will help learners comprehend different money management skills, and help them to understand how to apply them in a long term timeframe.These skills can be used in both a personal sense as well as for business.

Learner Audience / Primary Users

Adults- 18 and above

Educational Use

  • Curriculum / Instruction

  • Professional Development, Other.



Material Type

  • Instructional Material

  • Lesson Plans, Readings Reference, Games, Unit of Study, Images and Illustration, Other.


    • Designers for Learning

    • Adult Education

    • Money, Budgeting, Practical Skills.

      Time Required for Lesson

      80 minutes.

      Targeted Skills

      Key skills covered in this lesson include:

      • Employability, career, life, finances, money, reading, writing, discussion, critical thinking.

      Learning Objectives

      By the end of this lesson, the learner should be able to:

      • To comprehend how to create and manage a budget.

      • To discover ways to save money long term

      • To demonstrate knowledge of reading materials by applying what they learn to their own lives.

  • Level: Adult Education

  • Grade Level: Type CCRS Grade Level E

  • Subject: Type CCRS English Language Arts / Literacy

  • Strand: Reading and Writing

    • Sub-strand if you chose Reading and Writing (e.g., Reading of Informational Text, Writing of Technical subjects)

  • Standard Description:

  • RI/RL.9-10.2

  • RI/RL.9-10.1

  • W/WHST.9-10.2

How to Set Up a Budget - Money Management

How to Set Up a Budget - Money Management

  • W/WHST.11-12.4

    Prior Knowledge

    The students should have a high school equivalent level of reading and writing skills, and have a rudimentary background in how to budget..

    Required Resources

    Lesson printout for OER commons, additional video and game material from instructor.

    Lesson Author & License

    • Lesson Author: Michael Allen

    • License: Type Creative Commons License; Creative Commons CC BY 4.0 license is requested

      Part 2: Lesson

      The video will be a short five minute presentation on the best ways to practice money management. Students will be asked to take notes while the video is playing, and note down which ways they think are the best and most applicable to their own lives right now.Students and teacher will then engage in a brief review/discussion of the video before the next lesson segment.]

      Guided Practice

      Time: 30 minutes

      For guided practice, the teacher will pass around several different scenarios to different groups of students. Students will be placed into groups of four, and each group will be presented with a case study which discusses either an individual, family, or business financial plan. The students will need to look at the information in the write-ups of each scenario, and from that information, they will have to design a monthly expenditure plan which details the fixed, flexible and optional expenses. Students will be given a set budget with which to do this, and the goal is to see if they can save any money when the month is over. Students will be encouraged to use technology such as mobile devices to research the average expenses for each item in the given geographical area. 

    Instructional Strategies and Activities


    Time: 10 minutes

    The warm up will consist of questions to be answered in partners. The questions will cover prior knowledge that the students have with spending and saving money. The questions will be designed to help determine the level of skill and knowledge that the students have on money management. They will be asked to call upon personal experiences where they felt they managed money well, and times when they felt the managed money poorly.


    Time: 10 minutes

    The introduction will consist of having students read an small article detailing the budgeting mistakes of a person who recently went into debt. The materials for this introduction will be presented from business magazines such as Entrepreneur. This person needs to be able to pay for college and further education, but now does not have the money to do so. Students will spend about 6 minutes reading the excerpt and then discussing the article as a class. Questions will include: What mistakes did this person make with their budgeting? What could this person have done differently to avoid this result? How could this situation relate to our own lives? 

    Presentation / Modeling / Demonstration

    Time: 10 minutes

    The presentation stage will be divided into two sub-stages: New Vocabulary preview and the video presentation on money management. New vocabulary will include words such as checking and savings accounts, fixed, flexible and optional expenses, and frugal. Words will be introduced by both visual cues, like pictures, and also by calling on students’ prior knowledge of prefixes, suffixes and root words to infer meaning.


    Time: 20 minutes

    For this lesson, students will be evaluated on oral and written presentations about their budgeting assignment mentioned in the Guided Practice section. Students will present their budget plan to the class, utilizing any additional resources they need, including PowerPoint and mobile based visuals. Grades will be given based on the overall structure of the presentation, their use of materials, and their ability to explain their reasoning behind choosing the particular plan they did. Students in the audience will also be asked to participate, giving their feedback of the other group presentations via a rubric and scorecard.


    Time: After class

    Students will use time after class to come up with a monthly budget plan for themselves. Students will note down budget plans in their journals, and make a log of everything that they spent money on for each different type of expense. Students will then log whether they were able to save money or not. Students should keep this log for the following months as well, to ensure that they are keeping track of their budgeting .

    Supplementary Resources

    Journals, articles on budgeting and money management from more than one source, video on budgeting.



    Youtube video: Waysandhow: How to set up a Budget- Money Management.

    Attribution Statements

    Content Created by WaysandHow at: https://www.youtube.com/watch?v=Nhn0PGAoF7k.

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