1. Laura Ewing President/CEO 1801 Allen Parkway, Houston, TX 77019 P: 713.655.1650 F: 713.655.1655 laura@economicstexas.org Helping young people learn to think, choose, and make better economic and financial choices in a global economy Cindy Manzano Director of Smarter Texas 1801 Allen Parkway, Houston, TX 77019 C: 713.503.5338 F: 713.655.1655 cindy@economicstexas.org www.economicstexas.org www.smartertexas.org 1

2. Financial Fitness For Life – Spiraled Curriculum Kindergarten – Grade 2 Grades 3 – 5 Grades 6 – 8 Grades 9 – 12 Financial Fitness for Life CDs provided by Council for Economic Education 2

3. Free lessons for grades 4-8 – Full 5E lesson for each PFL TEKS – Lessons for grades 4-6 funded by – Lessons for grades 7-8 funded by – www.smartertexas.org under Resource tab www.smartertexas.org 3

4. 1)www.smartertexas.orgwww.smartertexas.org 2)Choose: Resource Tab 3)Choose: PFL Test Resources If you have any difficulty, accessing the files or have any questions about the tests or stipends, please contact Cindy at cindy@economicstexas.org LevelPassword 3 Verna68 4 Meyer1969 5 Fisher1970 4

5. The TCEE programs are made possible by the following TCEE partners. copyDR. EnviroChem Services, Inc. Trout Foundation John Anderson Less B. Fox RBC Wealth Management

6. To build financial capability, what knowledge and skills do students need to understand? 6

7. What are some misconceptions elementary children have about money? 7

8. 3-5 Resource 8

9. 9

10. FFFL: Lesson 4 The Grasshopper and the Ant 10

11. Listen for these words: Borrow Spend Save Earn Bank Interest Opportunity cost 11

12. Write down everything you want. 12

13. Opportunity cost: The next-best alternative that is given up when a choice is made. 13

14. Opportunity Cost Sofia must decide whether to finish her math assignment or read a book right after dinner. If she chooses her limited time to do the math assignment, what is her opportunity cost? 14

15. Opportunity Cost Maurice must decide whether to put books or gym shoes on the shelf in his locker. If he chooses to use the shelf space for books what is his opportunity cost? 15

16. Opportunity Cost When have you had to make a choice due to limited time, limited space, or limited money? Use the phrase opportunity cost to describe your situation. Why did you choose one alternative over the other? What influenced your choice? 16

17. Lets read The Grasshopper and the Ant 17

18. The Ant What is spending? What is savings? What was the ants message the moral of the story? What does this message mean to you? How did the ant earn the money she was putting in the bank? 18

19. The Grasshopper Think of time you made a choice, like the grasshopper, and later wished that you hadnt made that choice. 19

20. Where did the ant save her money? How did the ant explain the concept of interest to the grasshopper? Why didnt the grasshopper understand what the ant was saying about interest? 20

21. Banks pay interest 21

22. Closure What did the ant say we give up when we spend? What did the ant call the next-best alternative that is given up when a choice is made? What did the ant say the bank pays her to save? What is interest? 22

23. FFFL: Lesson 5 Savings Starts with Wanting More 23

24. FFFL: Lesson 5 Math PFL 3.9A: explain the connection between human capital/labor and income Math PFL 3.9E: List reasons to save and explain the benefit of a savings plan, including for college Math PFL 3.9F: Identify decisions involving income, spending, saving, credit, and charitable giving Math PFL 4.10C: Compare the advantages and disadvantages of various savings options Math PFL 4.10E: describe the basic purpose of financial institutions, including keeping money safe, borrowing money, and lending Math PFL 5.10D: Develop a system for keeping and using financial records 24

25. Vocabulary Savings Goals Interest Goods Services Opportunity cost 25

26. Goods and Services Repairing a bicycle Grooming a dog Watching a movie 26

27. Saving Starts with Wanting More 27

28. Sources of income 28

29. Chores as a source of income 29

30. Saving Money Where can students keep their savings? Do you decide whether or not you will save money, or do your parents make that decision for you? Why do you save? 30

31. Goal 31

32. Setting goals for your money 32

33. My Savings Plan 1.Fold a blank sheet of paper along the shortest line of symmetry. 2.Write your name on the top right. 3.Write My Savings Plan on the front cover. 4.Decorate cover page only. 33

34. My Savings Plan 1.Set a Goal 2.Calculate a Savings Plan 3.Where Will I Save My Money? 34

35. My Savings Plan Is your savings target realistic? Can you really set that amount of money aside each week or month? What can you do if the targeted amount is too much or too little? What will you give up by saving the targeted amount each week or month? 35

36. Making Decisions Pair students up to discuss the following: Explain your savings plan. Decide where you will keep your money. 36

37. 37

38. Deposit or Withdrawal Rodrigo put his birthday money into his account. Rodrigo wrote a check to pay the vet bill. Rodrigo used his debit card to get money out of his account. The bank pays you $1.25 in interest. 38

39. 39

40. Savings Account Register 40 in out

41. Savings Account Register 41

42. Savings Account Register 42

43. Savings Account Register 43

44. Assessments: 44

45. $100,000 Pyramid Game Choose your partner. 45

46. Game 1 Goal Services Withdrawal Opportunity cost Interest 46

47. Game 2 Bank Income Borrow Earn Deposit 47

48. TCEE: Grade 4, Lesson 1 Not Enough Bucks 48

49. Not Enough Bucks TCEE created lesson Grade 4, Lesson 1 PFL Math 4.10A: distinguish between fixed and variable expenses 49

50. Expenses Fixed expenses are those expenses that remain the same each week or month. Variable expenses are those expenses that vary from week to week or month to month. 50

51. TCEE: Grade 4, Lesson 2 Ideas for Raising Profit 51

52. Ideas for Raising Profit TCEE created lesson Grade 4, Lesson 2 PFL Math 4.10B: calculate profit in a given situation 52

53. Capital Elementary School is getting ready to begin a fundraiser to buy additional playground equipment for their school. Mr. Cashs fourth grade class has asked if they could work together to help with the project. 53

54. Readers Theater Penny Buck Richey Bill Mr. Cash 54

55. What are some of the things each team will need to consider before you can put your fund raising plan into effect? 55

56. Assign each group a fund raising project. Create a supply list needed to carry out your fund raising project. 56

57. Which items can be borrowed or donated? Circle items to purchase. 57

58. Vocabulary Expenses – Revenue – Profit – 58

59. Vocabulary Expenses – cost for supplies Revenue – Profit – 59

60. Vocabulary Expenses – cost for supplies Revenue – total amount each project earns Profit – 60

61. Vocabulary Expenses – cost for supplies Revenue – total amount each project earns Profit – revenue minus expenses 61

62. Profit Yesterday my neighbor bought a birdhouse that I made. I spent $1.50 for wood and 25¢ for nails to make the birdhouse. I already had glue and paint. My neighbor gave me $5.00 for the birdhouse. How much profit did I make? profit = revenue – expenses 62

63. Activity 4.2-2 63

64. Closing Which fundraiser would you do? Why? 64

65. TCEE: Grade 5, Lesson 1 The Case of the Disappearing Paycheck 65

66. The Case of the Disappearing Paycheck TCEE created lesson Grade 5, Lesson 1 PFL Math 5.10A: define income tax, payroll tax, sales tax, and property tax PFL Math 5.10B: explain the difference between gross income and net income 66

67. Word Splash Write any word or phrase or draw a picture on each chart paper to show what you know about each tax. 67

68. The Case of the Disappearing Paycheck Create a tax flipbook Number 1-4 Move to your number 68

69. The Case of the Disappearing Check Group 1 will become experts on income tax. Group 2 will become experts on payroll taxes. Group 3 will become experts on sales tax. Group 4 will become experts on property tax. 69

70. The Case of the Disappearing Paycheck Read the section about your tax category. Discuss the important points about your tax category. Create a visual on chart paper that communicates the important information about your assigned tax. Plan your presentation. 70

71. The Case of the Disappearing Paycheck What points will you write in your flipbook? Now that you know more about taxes, where does the money come from that one uses to pay taxes? 71

72. The Case of the Disappearing Paycheck Heres what Mr. Cash made in a one week period. He worked 40 hours and made $14.50 per hour. This means that he earned $580.00 that week. His federal withholding tax was $47.00, Social Security tax paid was $35.96, and his Medicare tax contribution was $8.41. 72

73. The Case of the Disappearing Paycheck How much did Mr. Cash pay in taxes that week? What was his final net income? How did you determine his net income? 73

74. TCEE: Grade 5, Lesson 4 Money In, Money Out 74

75. Money In, Money Out TCEE created lesson Grade 5, Lesson 4 PFL Math 5.10E: describe actions that might be taken to balance a budget when expenses exceed income PFL Math 5.10F: balance a simple budget 75

76. Handsonbanking.org 76

77. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount 77

78. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00 78

79. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00 mow the yard $15.00 79

80. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00 mow the yard $15.00 bathe the dog$5.00 80

81. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00 bathe the dog$5.00 81

82. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00 82

83. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 83

84. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10 84

85. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10 Total: $30.00 85

86. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10 Total: $30.00Total: $22.00 86

87. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10.00 saving for basketball shoes Total: $30.00Total: $22.00 87

88. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10.00 saving for basketball shoes $16.00 Total: $30.00Total: $22.00 88

89. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10.00 saving for basketball shoes $16.00 Total: $30.00Total: $22.00 89

90. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10.00 saving for basketball shoes $16.00 Total: $30.00Total: $22.00 $38.00 90

91. Expenses Fixed expenses are those expenses that remain the same each week or month. Variable expenses are those expenses that vary from week to week or month to month. 91

92. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts$2.00 mow the yard $15.00college savings$5.00 bathe the dog$5.00cell phone$5.00 entertainment$10.00 saving for basketball shoes $16.00 Total: $30.00Total: $22.00 $38.00 92

93. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00 dues for Scouts - f $2.00 mow the yard $15.00 college savings - f $5.00 bathe the dog$5.00 cell phone - f $5.00 Entertainment - v $10.00 saving for basketball shoes $16.00 Total: $30.00Total: $22.00 $38.00 93

94. Column A Weekly Income Column B Weekly Expenses SourceAmountItemAmount allowance for household chores $10.00dues for Scouts – f$2.00 mow the yard $15.00college savings – f$5.00 bathe the dog$5.00cell phone – f$5.00 entertainment – v $10.00 $2.00 saving for basketball shoes – v $16.00 Total: $30.00Total: $22.00 $38.00 $30.00 94 Jordan can reduce his entertainment from $10 to $2 for 5 weeks.

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97. Evaluate How would you describe a budget? Why is having a budget important? What may happen if you do not stick to your budget? 97

98. Gingers Budget Weve worked on Jordans budget together to make sure he has a balanced budget. Now its your turn to help Ginger. 98

99. Plan a weekly budget for yourself. You must have at least $30.00 weekly income. No more than $15.00 can be allowance. You must show jobs that you can do and would be willing to do every week. You must save at least $5.00 of your weekly income in a college savings plan. You must share/donate some of your income with others. You must spend some of your money. Your spending must be reasonable for someone your age. Your expenses may not exceed your income. 99

100. Extension The Mint Kids – http://themint.org/kids/determining- your-budget.html http://themint.org/kids/determining- your-budget.html 100

101. Extension Students may create a skit about the Budgee twins, Spender and Saver. As their names imply, Spender likes to spend money while Saver prefers to save his money. The skit should illustrate problems that arise when one does not have a balanced budget. 101