1. Section 1

1.1. Lesson 1

Mathematics 20-3 Module 1

Section 1: Personal Budgets

 

Lesson 1: Introduction to Budgeting

 

Focus


This is a photo of people from the Nakoda First Nations in front of their tepee at Banff in 1906.

National Archives of Canada / PA-29120

It may seem that life was simpler in the past. But people had to plan ahead no matter whether they lived off the land or in a city. Did people have sufficient food and adequate shelter to meet their needs and survive in difficult times?

 

Today you must also plan carefully to meet your present and future needs. You must balance income and expenses to survive financially in the modern world. Part of this financial planning involves preparing a budget.

 

A budget is a plan used to predict income and expenses to meet your financial goals. This lesson introduces you to preparing a personal budget.

 

Lesson Questions

 

In this lesson you will investigate the following questions:

  • What categories of income and expenses are used to create a personal budget?
  • How can personal budgets be applied to real-life situations?
Assessment

 

Your assessment for this lesson may include a combination of the following:

  • course folder submissions from Try This and Share

  • your contribution to the Mathematics 20-3: Glossary Terms

  • Lesson 1 Assignment (Save a copy of your lesson assignment document to your course folder now!)

  • the Project Connection

In this course you may come across Self-Check questions, Try This questions, and other activities that may or may not be assessed.

 

Remember that these questions and activities provide you with the practice and feedback that you need to successfully complete this course. You should respond to all the questions and place those answers in your course folder. Your teacher may wish to view the work that you have stored in your course folder to check on your progress and to see if you require assistance in some way.

 

Materials and Equipment
  • calculator
Time

 

This lesson has been designed to take 150 minutes; however, it may take more or less time depending on how well you are able to understand the lesson concepts. It is important that you progress at your own pace based on your own learning needs.