This lesson teaches students how inflation and interest rates impact your daily life and budget, based on the latest Consumer Price Index (CPI) report. It covers the effects of inflation on various aspects of daily budgeting, from grocery shopping to managing household expenses.

The lesson also explores practical strategies for stretching your dollar further amid rising costs, understanding how interest rates affect loans and savings, and deciphering the implications of the CPI report for future financial planning. This lesson provides essential tips and knowledge for navigating the challenges of inflation and interest rate fluctuations in today’s economy.

CONCEPTS

Use this video lesson on the topic of inflation and budgeting. Learn related concepts of:

• Interest Rates Impact
• Savings Strategies
• Earning Income
• Buying Goods/Services
• Using Credit
• Saving
• Financial Investing
• Financial Decision Making
• Risk Management
• Economic Principles
• Money Management
• Consumer Rights/Responsibilities

GRADE LEVEL

6-12th grades. High School. College. Adult Education.

TIME REQUIRED

45-60 minutes. Adjust the lesson plan and allocate time to certain topics based on the needs and interests of the students.

PROCEDURE

Hand out the worksheet below (see the GET LESSON button near the bottom of the page).

Show students the video and have them complete the worksheet.  Review the questions on the worksheet.  A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.

Unexpected Inflation | Navigating Higher Prices on a Budget

After watching the video, have students tell what the most important things they learned from the video.

 

Lesson Plan: Unexpected Inflation | Navigating Higher Prices on a Budget

Objective: To equip students with the knowledge to understand and navigate the effects of inflation and interest rates on their personal budgets, especially during times when costs are rising unexpectedly.

Materials Needed:

• Access to “Unexpected Inflation | Navigating Higher Prices on a Budget”
• Worksheets for budget planning activities. Printable Budget Worksheets
• Quiz materials based on the video content

Introduction (5 minutes):

• Brief discussion on what inflation and interest rates are, and why they matter.

Video Viewing (15 minutes):

• Watch “Unexpected Inflation | Navigating Higher Prices on a Budget” together as a class.

Discussion (10 minutes):

• How does inflation affect daily life and budgeting?
• Discuss the impact of rising interest rates on loans and savings.

Activity – Budget Planning (20 minutes):

• Students use worksheets to adjust a sample budget to account for inflation.

Quiz (10 minutes):

• Administer a quiz based on video content to assess understanding.

Wrap-Up (5 minutes):

• Discuss key takeaways and encourage students to apply what they’ve learned to their personal financial planning.

Homework: Students create a personal budget plan that includes strategies for coping with inflation.

Lesson Resources

• Unexpected Inflation | Navigating Higher Prices on a Budget