Money Choices

Overview

This 60-minute lesson is tailored for Year 7 students in New Zealand to explore basic personal finance and consumer behaviour concepts. It aligns with the New Zealand Curriculum (NZC) requirements, particularly focusing on the financial capability aspects within the Mathematics and Social Science learning areas. The lesson emphasises foundational understanding of how people earn and manage money, including wages, salary, income, saving, spending, and budgeting, and introduces consumer behaviour influenced by advertising and branding.

Curriculum Links

Learning Area

• Mathematics and Statistics: Financial mathematics, including managing money and making simple financial plans

• Social Sciences: Understanding economic decision-making and consumer behaviour

Achievement Objectives (New Zealand Curriculum)

Students will:

• Recognise different forms of income including wages and salary.

• Understand the concepts of saving, spending, and budgeting.

• Explore and critically evaluate consumer behaviour, including impulse buying and the influence of advertising.

• Make informed decisions as consumers.

Key Competencies

• Managing Self: Plan and manage financial choices, demonstrating self-motivation and responsibility.

• Thinking: Use critical and creative thinking to make informed decisions about money.

• Participating and Contributing: Discuss and reflect on financial behaviours and consumer influences.

Learning Objectives

By the end of this lesson, students will be able to:

• Define and differentiate between wages, salary, and income.

• Explain the importance of saving and budgeting using simple terms.

• Understand how spending is affected by personal needs, wants, and external influences such as advertising.

• Recognise the role of brands and advertising in influencing buying decisions.

• Develop a basic personal or family budget plan.

Success Criteria

Students will demonstrate success when they can:

• Correctly explain key financial terms (wages, salary, income, saving, spending, budgeting).

• Identify examples of their own or family budgeting practices.

• Describe how advertising can impact their spending choices.

• Complete a simple budgeting activity reflecting income, spending, and saving goals.

• Participate actively in class discussions and group activities to share ideas.

Materials Needed

• Whiteboard and markers

• Play money (coins and notes) or printed money slips

• Budget planning worksheets (simple templates)

• Examples of advertisements (printouts or on-screen images) of popular brands

• Chart paper or digital presentation for key vocabulary and ideas

• Vocabulary flashcards or slides with key terms and Māori equivalents

Lesson Structure

Key Vocabulary: Money Choices

English Term

Māori Equivalent

Definition

Wages

Utu ā-wā

Money paid per hour for work

Salary

Utu ā-tau

Fixed regular payment, usually monthly or yearly

Income

Āheinga moni

Total money earned from work or other sources

Saving

Penapena moni

Keeping money aside to use later

Spending

Whakawhitinga moni

Using money to buy goods and services

Budgeting

Mahere moni

Planning how to use money

Consumer Behaviour

Tikanga kaihoko

How people make choices about buying goods/services

Introduction (10 minutes)

• Teacher explains key terms: Using engaging simple language, clarify what wages (money paid per hour), salary (fixed regular payment), and income (total money earned) are. Stress that even if students don’t yet earn money, these terms explain how adults support themselves.

• Discuss where money comes from and what it can be used for: Introduce saving (keeping money for later), spending (buying goods and services), and budgeting (planning how to use money).

Activity 1: Income and Budgeting Brainstorm (10 minutes)

• Ask students to think about where money comes into their families (jobs, allowances, gifts).

• On whiteboard/chart paper, create a mind map illustrating income vs. spending vs. saving.

• Highlight that budgeting helps people decide how to use their money wisely.

Activity 2: Role Play – Planning a Budget (15 minutes)

In pairs, students receive a “monthly income” of play money (e.g., $200).

• They list common expenses (food, transport, entertainment, saving).

• Using the worksheet, allocate money amounts to these categories to create a basic budget.

• Discuss what happens if they overspend or don’t save enough.

Teacher notes: Guide pairs gently, differentiate support by providing extra scaffolds for those needing it (e.g., visual charts or sentence starters). Challenge extension students to identify how to increase savings or what happens in emergencies.

Activity 3: Consumer Behaviour – Advertising and Impulse Buying (15 minutes)

• Show several advertisements for familiar brands and products.

• Lead a class discussion: What do you notice? How do ads try to get you to buy things?

• Define impulse buying and discuss the difference between needs and wants.

• Students write one example from their own life or a story about a purchase influenced by advertising.

Wrap-Up and Reflection (10 minutes)

• Recap important vocabulary and concepts learned.

• Quick Kahoot quiz or thumbs up/down game to assess understanding of terms and concepts.

• Students reflect on one new thing they learned about managing money and consumer behaviour.

• Encourage students to talk to their whānau about budgeting and saving at home.

Differentiation Strategies

• For diverse learners: Use visual aids, clear vocabulary lists, and real-life examples relevant to their contexts.

• Additional support: Provide templates with pre-filled sections for budgeting. Use paired work to encourage peer assistance.

• Extension tasks: Challenge students to create a simple savings goal plan or investigate and report on NZ consumer rights or ethical purchasing.

• Culturally responsive pedagogy: Incorporate examples inclusive of Māori and Pasifika perspectives on money management — e.g., family roles in financial decisions.

Assessment Opportunities

• Formative feedback during pair budgeting activity and group discussions.

• Accuracy and thoughtfulness demonstrated in the budgeting worksheet.

• Reflections and responses during the consumer behaviour discussion and wrap-up quiz.

Teacher Reflection

• Did students engage with and understand the core concepts of income and budgeting?

• Were students able to critically consider the effect of advertising and brands on their choices?

• Note which differentiation strategies were effective and adjust scaffolding as needed for future lessons.

This lesson builds foundational money management skills crucial for year 7 students’ understanding of personal finance, aligned directly with NZC expectations in a clear, accessible, and engaging way. It encourages practical thinking, discussion, and reflection to develop empowered future consumers and money managers.