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Budgeting On a Shoestring
Module 6 Assignment 1:Multimedia PresentationGlenda [email protected] of Philosophy: Learning, Instruction, and InnovationDr. Shari Jorissen, EdD, [email protected] 8304 Motivation, Engagement, and Learning
MLD Description
The goal of Budgeting on a Shoestring is to teach traditional and nontraditional freshmen who, attend a community college, how
to design a personal budget. In the context of this proposal - the traditional student is between 17 and 25 years of age. Nontraditional students refer to individuals 25 years old and older. Many see college
as a springboard for a career change.
Both sets of students:
• Are single, married, or single parents
• Attend a campus located in an urban environment in Pennsylvania
MLD Description
• Emphasis is placed on the benefits of living within one’s means.
• The proposal of three ninety 90 minute budgeting training sessions is for inclusion into an already established freshmen seminar course.
• This course teaches students how to learn and adopt methods which promote success in their academics and personal lives.
The proposed timeline to create programming for this instruction
is sixty days.
Synthesis of Analyses
Rational and Audience
Strengths of the budgeting project include:
• Instruction is targeted to freshmen, a subset of the undergraduate population.
• Lessons in the objective of goal setting and adopting the behavior of saving may help learners successfully manage spending and debt.
Research confirms the average credit card balance of
undergraduates is $3173,
(Sallie Mae, Inc. 2009).
Synthesis of Analyses
Rational and Audience
An overarching theme for this project is to communicate the negative effects of wayward spending and the effort required one needs to bounce back from financial ruin. This theme
is supported by precepts of action control theory. This theory of volition centers upon individuals saying focused and on track with predetermined goals (Keller, 2010). The
ultimate take away for students is that they gain “a sense of personal responsibility for their actions” regarding financial management (p. 26).
Synthesis of Analyses
Objectives and Strategies
Financial Goals Met!
Students will examine current spending habits and trends
Students will identify three personal and financial goals
Students will identify three specific steps/resources needed to
achieve their goals
Students will create a financial budget which suits
their lifestyles
Budgeting On a
Shoestring
Objectives
Synthesis of Analyses
Strategy
Group Problem Solving
Classmates analyze each other’s spending habits and budgets.
Synthesis of Analyses
Strategy
Journal Spending
Learners are asked to record all personal spending for 30 days and bring these findings to class. Using budgeting lessons and personal experience, classmates analyze each other’s
journal entries.
Synthesis of Analyses
Strategy
Furnish A Freshmen’s One Bedroom Apartment for Under $1000.00
Students gain confidence and have fun using their new budgeting skill set by purchasing items on-line from Good Will Industries (http://www.goodwill.org), Target
(http://www.target.com/), and Wal-Mart (http://www.walmart.com/) to furnish a make-believe apartment.
Promotion of Learning
Learning is promoted via:
• The Flipped Classroom Method
• Group Problem Solving
• Furnishing a Make-Believe Apartment Under $1000.00
• Creating Personal Budgets
Promotion of Learning
The Flipped Classroom MethodPart of the methodology for the budgeting class is to divide time between in-class and outside of class instruction. In a flipped classroom environment, traditional classroom instruction is inverted with lectures and discussion boards being held outside of class (Phi Delta Kappan, 2012). When learners are in class, they engage in activities which assist in making on-line lectures, computer-based stimulations, and educational games pop and come alive (Federal Deposit Insurance Corporation, 2012). This classroom concept promotes self-directed learning – adult learners take charge of the learning process (Goddu, 2012).
Promotion of Learning
Group Problem Solving
Analyzing case studies and each other’s spending habits give students a forum to respectfully disagree with others perspectives, strengthen personal resolves, or alter their
original viewpoints (Baxter, 2007). Learning is promoted through solving problems and decision making (Schunk, Pintrich, & Meece, 2008).
Promotion of Learning
Furnish a Make-Believe Apartment Under $1000.00
With their newly learned budgeting skill set, students will collectively furnish a fictitious one bedroom apartment for under $1000.00 with mocked on-line purchases. Just as in real
life, students must make calculated choices and develop a purchasing savvy in order to furnish this dwelling under budget. Learning is promoted through an enjoyable fictional on-
line activity which may give students the needed confidence to create their own budgets.
Promotion of Learning
Personal Budget
The Budgeting On a Shoestring modules equip students to create their own budgets during the final session. Learners are encouraged to infuse their short and long-term goals into
their action plans.
Next Steps
Working through this MLD project has provided the scaffolding for Chapter 2 of my dissertation.
Next steps include:
• Working with my academic advisor to fine tune my problem statement
• Investigating current research on community colleges already using the flipped classroom concept
• Examining data collected on how different learning styles are affect by the flipped classroom method
• Examining current financial literacy curriculum taught to freshmen
• Investigating available financial literacy assessment tools to ascertain what money management information students know at the start and finish of module
Professional Practice
I teach a freshmen seminar course. On Course, Study Skills Plus Edition, the textbook assigned to this class, has a module on money management (Downing & Ellis, 2011).
Designing my MLD has given me insight as to how to infuse active learning into my day-to-day teaching. Instructional strategies such as computer-based games, role-
playing, brainstorming, and group problem-solving will be infused in the major thrusts of the course – time management, test taking skills, and note taking stratagems (Center for
Disease Control and Prevention, n.d.).
Professional Practice
My MLD design is the spine of my dissertation project. I have a personal concern regarding freshmen not effectively managing their personal finances. Many of the freshmen I teach inform me they do not know how to save, mismanage five or more credit cards, and are
barely making it financially from paycheck-to-paycheck. The engagement sessions included in this presentation promotes active participation, captures learners’ attention early on
with relevant activities and sustains motivation (Center for Disease Control and Prevention, n.d.). A budgeting skill set, taught with the suggested strategies highlighted in
this presentation, may keep students from financial ruin.
References
Baxter, D. (2007). Teaching strategies for adult learners. Rivier Academic Journal, 3(2), 1-3). Retrieved from www.rivier.edu/journal/.../J120a-Celebrating-
PedagogyX-Baxter.pdf
Center for Disease Control and Prevention. (n.d.). Effective teaching strategies. Retrieved from
http://www.cdc.gov/healthyyouth/foodsafety/pdf/effective_teaching_strategies.pdf
Downing, S. (2010). On course, study skills plus edition. Mason, OH: Cengage Learning.
Federal Deposit Insurance Corporation. (2012). Money smart - A financial education program. Computer-based instruction. Retrieved from
http://www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html
Flipping Classrooms. (2011). Phi Delta Kappan, 93(4), 6. Retrieved from
http://ehis.ebscohost.com.ezp.waldenulibrary.org/eds/pdfviewer/pdfviewer?sid=7ebe81fd-8ba7-4d8e-a2e9-
56f88f5eaf5d%40sessionmgr12&vid=8&hid=101
References
Goddu, K. (2012). Meeting the CHALLENGE: Teaching strategies for adult Learners. Kappa Delta Pi Record, 48(4), 169-173.
doi:10.1080/00228958.2012.734004
Keller, J. M. (2010). Motivational design for learning and performance: The ARCS model approach. New York, NY: Springer.
Sallie Mae, Inc. (2009). Study finds rising number of college students using credit cards for tuition. Retrieved from
https://www1.salliemae.com/about/news_info/newsreleases/041309.htm
Schunk, D. H., Pintrich, P. R., & Meece, J. L. (2008). Motivation in education: theory, research, and applications (3rd ed.). Columbus, OH: Pearson, Merrill
Prentice Hall.
