Last Updated on July 15, 2020 by Alabi M. S.
TOPIC: How to Spend Wisely
By the end of the lesson, the pupils should have attained the following objectives (cognitive, affective and psychomotor) and be able to:
- explain the meaning of wise buying and spending;
- identify items of needs and wants;
- state the advantages and ways of spending wisely.
Buying and selling
The teacher will teach the lesson with the aid of diagram of sources of family income.
METHOD OF TEACHING
- Questions and answers
- Scheme of Work 4 – 6
- 9 – Year Basic Education Curriculum
- Course Books
- Google and All Relevant Materials
CONTENT OF THE LESSON
Wise buying is knowing exactly what to buy, where to buy, when to buy and how to buy at the right price without any regret in the future.
Wise spending is the decision we make on what to buy or spend money on.
ADVANTAGES OF WISE SPENDING AND BUYING
- Save money,
- Save time,
- Increase in savings,
- Enable you to get more goods and services for lesser price,
- Reduce unnecessary buying and spending.
HOW/WAYS TO SPEND MONEY WISELY
- Listing items for purchase,
- Price comparison,
- Products comparison,
- Bulk buying,
- Shop alone,
- Learn how to negotiate,
- Don’t fool by advertisements,
- Avoid online shopping except for price comparison.
To deliver the lesson, the teacher adopts the following steps:
- To introduce the lesson, the teacher revises the previous lesson. Based on this, he/she asks the pupils some questions;
- Discusses some ways of wise spending;
- Explains the differences between needs and wants;
- Summarize the lesson on the board;
- Pupil’s Activities – Role – play in wise shopping in class by comparing prices.
- Note taking.
To conclude the lesson for the week, the teacher revises the entire lesson and links it to the following week’s lesson.
- make a list of four market items to buy with cost estimates;
- state three advantages of comparing prices.