1JA Capstone Programs JA BizTown – Elementary School Capstone is the culmination of classroom study. It provides on-site experiential activities that allow students to apply knowledge they learned in classrooms to real-world situations.JA BizTown – Elementary SchoolJA Finance Park – Middle and High School
2NOTE TO JA STAFFThis PPT deck is a template that can be configured locally. References to facility-based, mobile, and virtual simulations are included. You should delete references that are not applicable to your JA Area. You may also choose to delete or limit information shared about PBL or traditional lessons depending on local implementation preferences.DELETE THIS SLIDE BEFORE TEACHER PRESENTATION.
3Training Objectives By the end of training, you will understand: The purpose of JA Finance Park.How to effectively use the curriculum.Teacher responsibilities for a successful student simulation experience.Basic operation of the on-site (or Virtual) simulation.
4Benefits to Educators Lessons are easy to use. Minimal preparation time is needed.Lesson options provide flexibility.Curriculum is fun, interactive, and engaging.Extension activities are provided with each unit.
5Program Components Teacher training Classroom instruction Volunteer trainingStudent simulationPost-simulation activities
10Curriculum Guide Tabs Getting Started Option 1: Traditional and Extension ActivitiesIncomeSaving, Investing, Risk ManagementDebit and CreditBudget +Simulation and DebriefOption 2: PBL LessonsGlossaryVisit InformationVolunteer Information
11Overview/Getting Started Sources (Page 1)Link for Pre-/Post-Test (Page 3)Program Overview and Goals (Pages 4-7)Option 1: Traditional Lesson Format (Page 8)Master List of Materials (Page 9)Option 2: PBL Lesson Format (Pages 10-11)Sample Implementation Timelines (Pages 12-13)
12Option 1 Timeline Traditional Lesson Implementation The Teacher Guide presents Income lessons first. The redevelopment was piloted in this order. As we discuss the lesson content we’ll explain further the reasoning behind using Income as a starting point. We did have some feedback from a few pilot teachers that they might want to consider re-ordering the topics in the future. Though a different order has NOT be tested in the classroom, each teacher has the option of implementing in the order he or she prefers.STAFF NOTE: If you plan to require any specific extension activities we recommend that you substitute your timeline for the graphic above.
13Option 2 Timeline Project-Based Learning Lesson Implementation Notice that though the overall minimum time requirement for PBL is the same as the traditional lessons, the number of lessons per topic is not necessarily the same. i.e. there were 3 lessons for Income in the traditional version but 4 in PBL.Because of the nature of PBL, with lessons being student centered, the time requirement may be greater. In order to finish the activities there will be days teachers will need to ‘push’ students to complete tasks OR you should plan on student completion of research, report preparation, etc. outside of class time.STAFF NOTE: If you plan to require any specific extension activities we recommend that you substitute your timeline for the graphic above.
14Traditional Lesson Features Let’s talk about the format and features of each JAFP unit and lesson before we explore the content of the lesson further.ANIMATION:1 - For each topic a symbol is used (for income it’s the dollar bills).2 - The table of contents lists the core or required lessons.Below that are listed the extension activities associated with this unit.Local JA Area staff may choose to make some of the applications or extensions required for their local teachers.3 – In addition to the symbol used for each unit, the pages will have a color border will help you identify the overall topic area. Income = red, SIRM = blue, Debit/Credit = orange, etc.As you can see the unit overview lists the objectives, concepts, and skills covered within the unit. There is also an introduction page, with text directed to the teacher and it gives some background and information about the unit topic.
15Traditional Lesson Features Animation:1 - Each lesson provides a time expectation. Many of the lessons could take longer if teachers allow for more discussion time than indicated in each lesson subsection. Though JA provides options for topic activities, we balanced this with teacher requests to limit time for implementation. Teachers will have to determine what works best for them and their students. Lessons CAN and have been completed in the timeline stated for each.2 – Each lesson includes a materials list. Note that they are PPT slides listed. Those are available via download from the Internet. The link for each topic’s slides will be provided to you.3 – Vocabulary words included in each lesson are highlight in the same color box throughout the teacher guide.4 – Thumbnails showing the student workbook pages associated with each lesson are provided in the preparation section to assist in identifying them.
16Traditional Lesson Features A time guideline is provided for Lesson Steps, Summary and Review, and Setting the Stage components of each lesson.
17Traditional Lesson Features Throughout the lesson, when the discussion or lesson steps have an associated PowerPoint slide, a thumbnail of that slide is inserted for teacher reference.ANIMATION:1 – Some lessons will include a online option. Options may be substituted for the activity detailed within the lesson. As we review each unit we’ll talk more about this option.2 – Digging Deeper Activities are offered periodically throughout the guide. These are always optional activities and provide a writing, debate, or reading activity that relates to the content and could be assignments for outside JAFP class time.
18Traditional Lesson Features Full views of each student workbook page is included in the teacher guide. These pages immediately follow the lesson they are associated with.ANIMATION:1 - The teacher guide labels each page with the unit, lesson, and associated page in the student workbook.2 – Answer keys are also provided when appropriate.
19Extension ActivitiesWith each unit of study there are between 3 and 8 extension activities available.Time requirements for each extension activity varies. Some are as short as 15 minutes, others require an hour.Some extension activities can be directly substituted for a portion of the core traditional lesson. Some of the activities offer additional material that is related to the core topic. Some may be more appropriate to middle grade or to high school.
20Extension Activity Workbook Pages Many of the extension activities have student workbook pages. This eliminates the need for teacher to copy worksheets.When appropriate, answer keys are provided in the guide, immediately following the copy of the student workbook page.
21Student Workbook Pages Traditional lessonsExtension activitiesVocabularyNote-takingBackground infoSkill practiceEmphasize that the workbook is used with the traditional lessons and also includes extension activities. Teachers implementing PBL will not need a workbook UNLESS they tell you they want to incorporate the extension activities and would like to utilize the book for their students.Included in the workbook is:vocabulary associated with each lesson,space for note-taking on several pages so that students can record information from class discussion or questions they have,background information about some of the topics and closely mirrors elements that are referenced in the teacher guideopportunity for skill practice.
22Project or Project- Based Learning? PBL – written specifically with the high school student in mind.What is the difference between doing a ‘project’ and ‘project based learning’? Project based learning is most often more multi-disciplinary than a project, which is most often single-subject based. Projects can be done without or with limited teacher guidance – PBL requires teacher guidance and team collaboration. Projects are based on ‘directions’ and student choice is limited. PBL is based on a driving question that encompasses all aspects of the learning and establishes the “need to know”. Students in PBL are given guidelines but have the ability to make many of their own choices. PBL involves real-world, authentic tasks and projects may use case studies or fictitious scenarios to illustrate problems. Projects are ‘turned in’ and all student’s work ‘look’ pretty much the same. PBL is presented to a public audience (people from outside the classroom) and everyone’s presentation is different – reflecting the tools and technology most applicable to the student.I
23Project-Based Learning Technology-basedTeacher training – Buck InstituteDriving QuestionMinutes of “Need to Know”RubricsCulminating ProjectTo successfully utilize the PBL lessons be aware of the following:PBL is heavily technology based – access to the Internet is needed for nearly every class session.JA offers this option for teachers who have experience implementing PBL in their classrooms – we do not teach the PBL method, rather provide an outline for the project and give you resources for your students. This greatly reduces the teacher preparation time.The JAFP PBL lessons were designed for high school students. Teachers of middle school age students, who are experienced with PBL, are welcome to modify the activities to meet their student needs (we had a teacher do this successfully during the pilot phase) but JA has no plans to design a JAFP PBL for middle grades.NOTE: the traditional lesson plans can be successfully utilized with high school students as well. The flexibility provided with the extension activities and options built in to the lessons make it appropriate for older students.You’ll notice differences in the look and feel of the PBL lessons, compared to traditional, but also in specific elements included:Driving question – This question in PBL is always authentic, engaging, challenging, and relevant and provides the vision or direction for the project.Minutes of need to know is a time to check for student understanding.Rubrics are provided throughout the PBL sections and are used for both student self-assessment and teacher assessment.The culminating project is front and center throughout each lesson. You’ll see it is introduced at the start of the curriculum and revisited with each topic area so students can clearly make the connection between the new content and what they should be striving to understand and how it related to the driving question and culminating project.
24PBL Lesson FeaturesThe PBL option follows some of the same formatting we’ve seen in the traditional lessons.ANIMATION:1 – The topic symbols used is the same for both traditional and PBL (for income it’s the dollar bills). The color associated with the unit also matches, so you see the red margin border for Income.2 – You’ll also see the lessons that are a part of the unit. In the case of Income, there are 4 required lessons. Notice that there are no extension activities listed with PBL. These activities are certainly available for PBL classrooms to use, but they are generally not incorporated or referenced in the PBL activities as they are in the Traditional lessons.3 – We have included links to high school CCSS, National Financial Literacy Standards, and 21st Century Skills at the beginning of each unit. PBL lessons were designed especially with high school students in mind. It does not mean that a middle school couldn’t use PBL but it would be necessary to modify the activities. By the same token, a high school teacher is welcome to implement the traditional lessons. Some of the extension activities can help provide deeper content that high school students need.
25PBL Lesson FeaturesThe PBL option follows some of the same formatting we’ve seen in the traditional lessons.ANIMATION:1 – The topic symbols used is the same for both traditional and PBL (for income it’s the dollar bills). The color associated with the unit also matches, so you see the red margin border for Income.2 – You’ll also see the lessons that are a part of the unit. In the case of Income, there are 4 required lessons. Notice that there are no extension activities listed with PBL. These activities are certainly available for PBL classrooms to use, but they are generally not incorporated or referenced in the PBL activities as they are in the Traditional lessons.3 – We have included links to high school CCSS, National Financial Literacy Standards, and 21st Century Skills at the beginning of each unit. PBL lessons were designed especially with high school students in mind. It does not mean that a middle school couldn’t use PBL but it would be necessary to modify the activities. By the same token, a high school teacher is welcome to implement the traditional lessons. Some of the extension activities can help provide deeper content that high school students need.
26PBL Lesson FeaturesThe PBL lesson formatting has a different look than that of the traditional lessons. Because the nature of PBL is different from traditional lessons, the lesson steps are less detailed.
27PBL Lesson FeaturesThe PBL lesson formatting has a different look than that of the traditional lessons. Because the nature of PBL is different from traditional lessons, the lesson steps are less detailed.
28PBL Lesson FeaturesSome PBL lessons contain an optional activity. We recommend that they be included but they are not required (UNLESS LOCAL AREA REQUIRES).Most of the units provide a rubric to assist in the assessment of student work throughout the unit. For those familiar with PBL, you know that a key component of this method is the student presentation of his/her learning.
29Traditional: Income Three core lessons Video introduction Pre-test Student self-assessmentWork preferencesTaxesNMIVideo introductionPre-testEight extension activitiesTeachers have two implementation options – option 1 is traditional class room lessons. Unit 1 topic is Income.There are three lessons required as part of this topic area.Optional, but recommended activities include a video introduction (video online – one of 3 implementation options or a locally provided video) and pre-test. JA Area staff may require the pre- and post-test. These options would both require additional class time to complete.
30Lesson One: Plan Your Future Define incomePersonal traitsWorker profile activityExtension activity #1In this lesson students think about their future – what are their hopes and dreams for work, family, desires. In order to determine where you go you need you know yourself and understand how to plan/what you need to fulfill your hopes and dreams.OPTION: Kuder Navigator vs. worksheets in the student workbook. Online option takes MORE TIME! Students could do assessment outside of class time if desired. NOTE: this service provides assessment opportunity for middle school and high school students. Tell teachers the adult options do NOT work unless they pay for access individually. The student fees for use are covered by JA USA.
31Lesson Two: Careers Career readiness Career clusters ExplorationTrendsKnowledge / skillsExtension activity #2In this lesson students take the knowledge they gained from looking at their interests, skills, and values and look at various occupations and those jobs expected growth in the future. Class will discuss higher education needed for various careers and number of jobs/careers people tend to have over a lifetime.Optional activities: students interview others about their job/career history and note links of learning from one job to another.This lesson examines the 16 career clusters. Teachers have a copy of 16 career cluster cards on PP. Larger cards are available for download at ja.org – cards are taped up around the room so that students can play a memory game.Groups of 2-3 students – each assigned a card they will report on.When time, 1 student goes to the card to read and memorize as much information as possible in 30 – 60 seconds (teacher decides time).Student returns to group and shares info learned – it is recorded in the workbook.Student 2 takes a turn going to the card to memorize and report additional information (teacher is time keeper)Compare volume of information gathered by group – congratulate the winner.If adequate time – have groups report out what they learned about their assigned cluster – job types in the category, outlook, salary, etc.OPTION: Instead of the career cluster game, have students research the education requirements for the career(s) of their choosing using the BLS.gov site for the Occupational Outlook Handbook. (extension activity 2)
32Lesson Three: Taxes and My Income SalesPropertyNet monthly incomeIn this lesson students discuss the types of taxes people pay. Vocabulary is introduced. Discussion around the use of the different kinds of taxes.Progressive vs. regressive tax – sales tax (regressive) and income tax (progressive).Calculate NMI using an example paycheck provided in teacher guide and student workbook – Jason’s paycheck.Simulation Connection – students will calculate a personal NMI by subtracting federal and LOCAL taxes from their gross pay. If married, they will also add a spouse NMI to calculate a household NMI and build their monthly budget from that amount. (Paperbased – student will use a calculator and answer will be checked when they log in to the software.) (Paperless – NMI will be auto-calculated after they ‘drag’ the taxes to the calculation part of the screen OR Area may choose to have students calculate NMI by activating a calculator availability within the software system.)
33Assessment Teacher guide only 11 questions Multiple choice Calculation Answer keyAn assessment for this unit is provided but is optional. The test is NOT printed in the student workbook so teachers will need to copy or display the questions on a SmartBoard for student viewing. This test will require a calculator. An answer key immediately follows the assessment (pages 42 and 43).
34Income – Extension Activities Kuder Navigator (p.47)Online career assessmentCareer Choice Research (p.51)BLS Occupational Outlook HandbookLet’s talk about the 8 extension activities that are associated with the Income unit.The first two we’ve already talked about as options to replace part of the core lesson content – the Kuder Navigator for online career assessment instead of the paper worksheets. And the second was the online career choice research by utilizing the BLS Occupational Outlook Handbook.The third extension activity is around being a entrepreneur and creating a business to make an income. In this activity the class is divided into groups – they start new copies that aim to fill a particular need and develop a short presentation about their idea. There are two workbook pages for this extension. The first focuses on helping students to identify the ‘need’ their business can fill and the second is a peer review sheet they will use as their classmates present their ideas.Being an Entrepreneur (p.55)Start a company – group presentation
35Income – Extension Activities Starting a Lawn Care Business (p.59)Fixed and variable costsSTEM Career (p.63)Design and build a productActivity 4 is about starting a lawn care business. The focus here is differentiating fixed vs. variable costs. Students work in groups of 3-4 to discuss their lawn care business (or they might choose to do the activity as a pet-sitting business, babysitting services, car-wash, etc.) Groups will also discuss market research and it’s impact on determining prices and viability of their business.Activity 5 discusses STEM careers and focuses on creativity and problem solving skills. Students are given limited supplies including 2 pieces of paper, scissors, pencils, and ruler. Students are to design and build a functional pencil holder and then write directions for their product. Students observe who’s pencil holder is most interesting or creative, etc.Activity 6 is only a 30 minute activity and reviews the history of Social Security and Medicare. Using a tax chart provided in their workbook they will calculate these taxes for various income scenarios.Social Security & Medicare (p.69)Tax calculations
36Income – Extension Activities Sales Receipt Analysis (p.75)Sales taxHow to Complete a 1040-EZ (p.79)Income tax returnActivity 7 asks students to compute sales tax. They discuss the use of state and local sales taxes and discover items that are typically exempt from a sales tax (Though this varies too – example: in most states groceries are tax-exempt but in Oklahoma and Virginia this is not the case – in those states grocery items are taxable). Students get an understanding that sales tax rates vary from state to state and practice math calculations by converting percentages to decimals.Activity 8 allows students to experience completing a government form – a 1040-EZ tax return – for Cory Spencer a full-time student, working part-time. Financial information is provided in the student workbook such that they can calculate taxes paid and whether Cory will receive a refund or will owe additional tax.
37Traditional: Saving, Investing and Risk Management Two core lessonsSavingInvestment optionsInsuranceFive extension activitiesUnit 2 is Saving, Investing, and Risk ManagementIn this unit students will explore and compare saving and investment options and also examine risk and how insurance helps protect savings. The two lessons in this unit touch on these topics at a high level. You’ll see in the lessons that the extension activities associated with this unit are referenced as a way to extend learning and give students additional practice and experience with that sub-topic. Students are likely to have a number of questions so teacher may want to plan on spending additional class time with this unit.
38Lesson One: Saving and Investing Pay Yourself FirstSavings fundsSaving goalsInterestKnow It AllIn this lesson students think about savings and making saving, even a small amount, a priority.Through a worksheet activity called doodling for dollars, they will think about their goals and how they spend / earn money today. They also make a plan for how they can begin to save on a regular basis.A small group activity is used to help students understand about various investment options. Each small group receives a Know It all card – this card simply defines the investment type, how it works and the risk level associated with the investment. Each student group then develops a Tweet to communicate what they learned about that investment option – in 140 characters or less. The groups share their tweets with each other so that everyone in the class hears about all 5 of the options presented.Simulation connection – students will pay themselves first in the site-based/mobile simulation (not currently applicable to Virtual)
39Lesson Two: Managing Risk Insurance policiesPremiumTree of LifePerfectly MatchedIn this lesson teachers present background information on how insurance works and the various kinds of policies people can buy.The tree of life activity has students using sticky notes to think about where they have seen insurance used/needed in the last month and they post those examples on the tree of life branch that is applicable.In the perfectly matched game, ½ of the students receive an “Insurance Sheet” and the other ½ of the class receives a “Life Sheet”. The insurance sheet lists various kinds of insurance and what that life events that policy provides coverage for. The life sheet list various events that a person might want to have insurance coverage for. Students circulate around the room to find a match for each of their events – the goal is for all of the boxes on the sheet to have unique initials. Some items there will not be insurance for.
40Assessment Teacher Guide only Nine questions Multiple choice Fill in the blankTrue/FalseAnswer keyAgain, an assessment for this unit is provided but is optional. The test is NOT printed in the student workbook so teachers will need to copy or display the questions on a SmartBoard for student viewing. An answer key immediately follows the assessment (pages 27 and 28).
41Extension Activities Understanding College Costs and the FAFSA (p.31) Paying for collegeUnderstanding Stock Quotes (p. 35)Analyze a stock portfolioThe first extension activity is geared toward high school students planning to attend college and explains the FAFSA. This is an activity that is best incorporated when Internet access is available to students. We reference a YouTube video, the FAFSA site, and resources provided by the Department of Education website.Extension activity 2 helps students understand the key information in a stock quote table. In the student workbook provides a sample with questions and the teacher guide has an answer key on page 36. This activity may be a good starting point for teachers who wish to have students research and track stocks over a period of days or weeks.Simulation connection – students have the opportunity to invest in stock during the simulation. Specifically they will decide how to invest retirement savings that their persona has accumulated. They will NOT be tracking opening, mid-day, or closing prices. (Applies only to site-based and mobile implementations)Activity three gives students a closer look at the way a Roth IRA works and the benefits of considering starting one while they are in school. A student workbook page provides scenarios that the class can read and evaluate whether or not the student in each situation should start saving with a Roth IRA.Roth IRAs (p.39)Teens investing for retirement
42Extension Activities Compound Interest and the Rule of 72 (p.43) Online, worksheet, team optionsJunior Achievement $ave USA(p. 49)Online lesson – risk and insuranceActivity four can be implemented using an online calculator – we recommend the investor.gov site for use with the student workbook page activity. Students could also use the information in the table provided to do a graphing activity reflecting savings described on the worksheet. Or, finally, working in teams and using a graphic calculator, students can determine savings earned.Activity five involves 5 online modules which are available at The modules include a short video titled “life comes with risk”, a ‘test your knowledge’ quiz, and an interactive ‘rate the risk’ activity. The goal of the activity to help students see that risk can be reduced with responsible behavior and insurance.
43Traditional: Debit and Credit Four core lessonsFinancial institutionsDebit/credit useBenefits and pitfallsCredit scoreFive extension activitiesThe next unit we will talk about is Debit and Credit.In this unit students compare financial institutions and their services. They weigh the advantages and disadvantage of debit and credit cards and examine the role of credit scores and credit reporting in personal finance.
44Lesson One: Banking Partners Bank/credit unionInternet bankOnline bankingMobile bankingIn this lesson students think about services banks and other financial institutions provide.They will use a worksheet to help organize their thoughts and learning about financial institutions and make explore personal information security through a ‘online and mobile security foldable’ activity.Simulation connection - During the simulation students will have a bank account and a debit card associated with that account. They will make both debit card payments and electronic transfers as they pay bills for the selections they make for their family members.
45Lesson Two: Personal Spending Electronic paymentsCreditBankruptcyMobile bankingIn this lesson students think about the consequences of debit card and credit card use and misuse.As students discuss the payment options available to consumers teachers will use ‘pair and share’ to keep students engaged. They will also take a detailed look at credit card statements and discuss techniques companies use to encourage signing up for credit cards.Simulation connection (paperless and paperless) – student personas will have an existing credit card debt. They will choose whether to budget and pay the minimum monthly payment or pay more. They may also have other debt – specifically education debt – if their persona has completed any higher education.
46Lesson Three: Savvy Shopping Debit and credit paymentsIn this lesson students will play the Savvy Shopper game.The goal of the game is to be the first to buy a hat, jeans, DVD, shoes, and a bike and have $0 debt. There is a score sheet in the student workbook so that everyone can keep track of their own spending and shopping.
47Lesson Four: Managing Credit Credit reportCredit scoreCredit score gameIn this lesson students will learn the factors that are a part of a credit score and understand good vs. bad debt.The level of detail teachers want to share with students is determined based on student age and teacher interest.The credit score game is played to reinforce the lesson’s vocabulary terms and concepts. The class is divided into two teams and each team answers questions, earning points, or losing a turn based on the game rules (page 32). Game questions and answers for teacher use are found on pages 33 and 34.Simulation connection – student personas are given a credit score and this score will determine if they will approved for a car loan. In cases where the persona is not approved, the student will need to budget for public transportation to get to work and for entertainment. The credit score, along with existing savings they have, will combine to determine their approval for a mortgage. Students not approved will rent an apartment or home. If approved students may opt to buy or to rent.
48Assessment Teacher Guide only 10 questions Multiple choice Fill in the blankTrue/FalseAnswer keyAgain, an assessment for this unit is provided but is optional. The test is NOT printed in the student workbook so teachers will need to copy or display the questions on a SmartBoard for student viewing. An answer key immediately follows the assessment (pages 37 and 38).
49Extension Activities Checks and Checking Accounts (p.41) Check writing and registersInstallment Debt (p. 49)Interest rate effect on real priceThe first extension activity provides an opportunity for students to practice check writing and keeping a register to track deposits and payments of all types. If students have no experience with personal finance this would be a good lesson to include as it gives them concrete reinforcement about needing to have money in a checking account in order to use a debit card or other electronica direct payment.Activity two is a short, 20 minute lesson about the true cost of credit. The associated student workbook page walks students through a skit for a “One-Day-Only” sale and the pressure salespeople can put on customers. The discussion emphasizes the need to be a smart consumer.Activity 3, Rent or Home Ownership, helps students understand the benefits and responsibilities they will take on when committing to a lease or a mortgage.Rent or Home Ownership (p. 55)Benefit and responsibility
50Extension Activities Leasing vs. Buying a Car (p.61) Pluses and minuses of having a carIdentity Theft (p. 67)Protecting personal informationActivity four may be of great interest to students. It focuses on the advantages and disadvantages of both leasing and buying and also discusses the ‘other’ transportation expenses students don’t necessarily think of. These include gasoline, maintenance, and insurance.Activity 5 is about identity theft and students examine what they can do to protect their information, students work in small groups as they complete a worksheet activity. Internet access, if available, can provide an additional source of information.Simulation connection – Three of these extension activities have a close correlation to decisions students will be making in the simulation. They will have the opportunity to buy furniture and home improvement items using installment debt. They will either buy a home or rent housing, and they may have opportunity to purchase a car (or two if they have a working spouse).
51Traditional: Budget + Three core lessons Three extension activities BudgetingPaying for educationThree extension activitiesThe next unit we will talk about is Budget +.In this unit students make the connection between personal financial success and the use of a personal budget, including the need to ‘pay yourself first’ and develop the habit of saving to reach goals.
52Lesson One: Think Before You Spend Wants and needsImpulse buyingShort-term goalsLong-term goalsIn this lesson students think about their current spending habits and evaluate how that spending is a want or need and how it supports their goals. They talk about impulse buying – the tactics stores use to encourage impulse buys and the effect impulse buying has had on their personal financial decisions.
53Lesson Two: What is a Budget? Budget categoriesDiscretionary incomeBudget your time optionIn this lesson students think about what it means to ‘live paycheck to paycheck’ and discover tools to help them avoid that situation.A worksheet in the student workbook provides an opportunity for students to review a case study, individually or in pairs. If budgeting is a brand new concept for students and they are having difficulty grasping it, an alternative budgeting exercise is given. On page 20 a “Budget Your Time” activity is explained. It may be an effective starting point for some classrooms, before moving on to the case study.Simulation connection: This lesson includes some “Making It Real” facts (page 19). The facts share current household income averages for various regions of the US. Have student research (or provide the information to them) the average income in your location. How does it compare to the national average? Regional average?As students develop a budget during the simulation, they will be seeing income and sales prices that reflect the local area. This is usualy very eye-opening to students.
54Lesson Three: Using a Budget Opportunity costScarcityLife scenariosSummer job classifiedsHigh school scenariosIn this lesson students think choices people make every day and the costs and benefits of those choices. Students examine this through budget examples. They discuss what spending for an average family might look like and compare it to average spending of an average teenager.Two activities are offered in the lesson: the summer job classified ads and goal cards were designed for middle grade students. The high school life scenarios are a presented as an option for high school students or more advanced middle grade classrooms.
55Assessment Teacher Guide only 10 questions Multiple choice Fill in the blankAnswer keyAgain, an assessment for this unit is provided but is optional. The test is NOT printed in the student workbook so teachers will need to copy or display the questions on a SmartBoard for student viewing. An answer key immediately follows the assessment (pages 39 and 40).
56Extension Activities Sample Budgets (p.41) Personal Budget (p. 47) Evaluating budgetsPersonal Budget (p. 47)Developing a realistic budgetThe first extension activity provides an opportunity for students to compare 3 personal budgets and discover that there is no one, right way to spend personal income. Decisions are influenced by goals and values.Activity two provides an opportunity for students to do some research and develop a personal budget, assuming they are out of school and living on their own.Activity three explores financial aid options for education options after high school. They also work in groups to read through some student scenarios and make recommendations about their financial options.Paying for Postsecondary Education (p. 53)Financial aid options
57Simulation and Debriefing One day simulation4½ hoursJA facilityOne debrief lessonPost-testThe simulation calendar is set by local JA staff. Description of simulation experience follows.Remind teacher of volunteer role in the simulation – discuss further when we cover volunteer and visit information tabs of the teacher guide.Debriefing lesson provides an opportunity to reflect on the simulation and think about planning that students can do now to help assure their future goals become reality. Individual student reports will be available following the simulation - teachers may find those a helpful review tool. The lesson itself focuses on class discussion of their experience and a brief journaling activity.The post-test is taken by the students during this time, assuming the pre-test was given prior to the start of the curriculum.
58PBL: Driving Question What do I need to do today to accomplish Project based learning is option 2 for curriculum implementation.In PBL, the responsibility for learning shifts from the teacher to the student. Teachers will use a guiding question to provide a vision of the culminating project/presentation expected of the students.The JAFP guiding question is: What do I need to do today to accomplish what I want in the future?What do I need to do today to accomplishwhat I want in the future?
59PBL: Culminating Project The beginning of each PBL section demonstrates how the culminating project meets the lesson objectives. As students complete the research and activities they will gather information that will become a part of their culminating project – the My Life Scenario.Students will individually create a My Life Scenario portfolio and in small groups create the My Life Scenario presentation. The presentations could be based on PowerPoint or Prezi slides, a video, skit, or other mode of expression agreed upon between students and teacher.The presentation itself should be presented to an outside group (other than classmates). This could include business partners, parents, school administrators, etc. The group need not be large.
60PBL: Income Four core lessons Video introduction Pre-test Student self-assessmentCareer goalsSources of incomeCalculate NMIVideo introductionPre-testThe first unit topic we will talk about is Income, as it is in the traditional lessons.There are four lessons required as part of this topic area. (3 for traditional)Optional, activities include a video introduction (video online – one of 3 implementation options or a locally provided video) and pre-test. JA Area staff may require the pre- and post-test. These options would both require additional class time to complete.
61Lesson One: My Life: Got Skills? Set the stageIntroduce culminating projectCareer assessmentIn this lesson students think about and discuss where they see themselves after high school. They are introduced to the culminating project.Using the information on page 5 of the teacher guide, students log on to Kuder Navigator and complete the career assessment.Optional but recommended: show the JAFP video to help students visualize the simulation experience and give the pre-test. (Area office may require).
62Lesson Two: My Life: College or Not? Career searchOccupational Outlook HandbookCollege searchCollege Scoreboard or College 411DebateIs a college degree worth it?Optional: research/presentationCompare future with/without a degreeBased on the feedback/results of the career assessment completed in lesson 1, during lesson 2 students research data about their recommended career match.They then explore college/education options that match their preferences – finding options where they can earn a degree that is needed for their career choiceFollowing their research, the class is divided into ‘pros’ and ‘cons’ around the debate question and students take turns presenting points. Suggestions around organizing the debate are found on page 18.An optional activity, either in class or as a homework activity – students research and identify a job they might do that does not require education beyond high school. Comparing that to the career they have researched based on lesson 1 results, what gives them the best financial position when they are 25. Student teams give a 3 minute presentation on their findings. A presentation rubric is available on pages
63Lesson Three: My Life: Where’s All My Money? Part One Tax discussionTake-home payOnline paycheck calculatorPayroll tax teams researchHow is tax money spent?Lesson 3 introduces students to taxes, who pays them, and why.The lesson begins with a brief tax discussion and utilizes a few of the PowerPoint slides available on the teacher resource webpage. Then, using an online calculator, students calculate a take home pay, based on their chosen career.Students are then divided into 3 teams – one team for each category of income tax – federal income, social security (FICA), and Medicare. They do online research to determine how each category of tax is spent. They complete this research in preparation for the lesson four.
64Lesson Four: My Life: Where’s All My Money? Part Two Tax argument presentationsTax argument decisionLesson 4 focuses on the student team arguments where students are presenting how tax dollars are used and whether they recommend a change in how they are distributed if they could make that determination. Presentations are limited to 3-4 minutes each.After the class hears the arguments students determine which team made the strongest case.At the end of each class period a few minutes are taken to assess student understanding of the topic by asking students to share how the knowledge they gained could be used in the My Life Scenario culminating project.
65PBL: Saving, Investing, and Risk Managment Two required lessonsSaving and investing optionsPersonal riskTwo optional but recommended lessonsIn this unit students explore saving and investment options as a part of their personal financial plan. They also discover how insurance may help protect savings.
66Lesson One: My Life: Pay Myself First? Rule of 72Investment AccountsOnline paycheck calculatorMini simulationHow is tax money spent?Lesson 1 begins with having students consider how long it might take them to purchase an expensive item. Teacher then explains the rule of 72 and student pairs create some simple scenarios to illustrate how the rule works.There is a brief discussion on saving/investing options and then students identify a personal goal they are saving for. They then select the type of account they believe is best in helping to meet their saving goal, following Internet research on the options presented.The optional, but recommended, lesson activity teams students with an elementary class. JAFP students create a short story focused on how to begin saving today. The story includes the rule of 72 and the four types of saving/investment accounts students focused on in this lesson.Optional but recommended:Short story for elementary students
67Lesson Two: My Life: Insurance Too? Auto insurance focusStudent groupsDecide on a car they would like to haveResearchAuto insurance pricing, policy options and requirementsLesson 2 focuses on auto insurance. Working in small groups students determine the type of car they would like to own and designate a specific make, model, year, and features. They then research the cost of insuring that vehicle for the area where they live and compare rates, policy options among various insurance companies.The optional, but recommended, lesson activity involves role-play. Students can write a skit or put together a TV or radio ad, etc. and discuss what they learned, including any surprises they had from their research.Optional but recommended:Q&A for purchasing insurance
68PBL: Debit and Credit Three required lessons Financial institutionsDebit and credit cardsBuilding good creditCredit scoresTwo optional but recommended lessonsIn this unit students compare financial institutions and their services. They will discuss similarities/differences and advantages/disadvantages of debit and credit cards. Finally, ways to build good credit and the impact of credit scores are covered as well.
69Lesson One: My Life: Financial Institutions Banks and credit unionsOptionsBrick and mortarInternetMobileOnlineResearchOptional but recommended:Talk showIn lesson 1 students work in teams and research/compare services offered by various financial institutions, the utilize Venn diagram to help illustrate the similarities and differences.They work to determine the organization(s) that best meets their needs, including types of accounts offered, fees, minimums, interest rates, etc.The optional activity will have students taking the information they learned in the base lesson and preparing a talk show to inform the audience about the types of financial institutions they researched and the services they provide.
70Lesson Two: My Life: Cost of Credit Good debt vs. bad debtDebit vs. credit cardsJeopardy-style game showIn this lesson students will utilize a personal goal to investigate options for borrowing money if they were unable to save it, including calculating minimum payments and total cost at varying interest rates. They take their research information and write answers that will become clues for a Jeopardy-style game show.
71Lesson Three: My Life: My Credit Score Use of creditBuilding a good credit historyOptional but recommended:My Credit Report PresentationIn this lesson students research online consumer credit reporting agencies. They discuss the 3 Cs of Credit – character, capacity, and capital – the guidelines used to determine creditworthiness. Finally, they will read and interpret some of the general and special situations frequently included on a credit report.The optional class session is to develop a credit report presentation that could be presented to a younger class of students.Note: there are two handouts at the end of this PBL unit – one is a Venn Diagram that can be copied and used or students can design their own - the other is a student handout that explains the 3 Cs of credit.
72PBL: Budget + Three required lessons Setting goalsBudgetingOne optional but recommended lessonIn this unit students are provided an opportunity to set goals, discover what is included in a budget, compare different kinds of budgets and prepare a budget based on a specific income and goals.
73Lesson One: My Life: “Riches to Rags”… Not Me! Financial planningFinancial challenges“Riches to Rags” storiesIn this lesson students share what they know of various terms, including expenditure, impulse buying, wants vs needs, and long- and short-term goals.They also research an actor, musician, athlete or other famous person who was once rich but is now bankrupt – what would they have done differently if they had been in that person’s place? What lesson(s) can be learned from the story?
74Lesson Two: My Life: Income – Expenses = Reality Developing a budgetFinancial freedomAvoiding excessive debtDiscretionary incomeIn this lesson we share some statistics about the financial status of an average American and the consequences they can face.Student teams discuss terms and present examples related to fixed and variable expenses, discretionary income, and budgeting. This is followed by a homework assignment that asks students to have a conversation with an adult to answer some basic questions about budgeting, setting goals, and use of discretionary income.During the optional lesson, students share the results of their conversations and discuss insights and lessons learned.Optional but recommended:Interview results
75Lesson Three: My Life: In Control of My Money BudgetChoicesGoalsThis lesson focuses on the benefits of a personal budget and the challenge sometimes seen in identifying wants vs needs. Students develop a personal budget, including saving a percentage of their income.
76PBL: Simulation and Debriefing Portfolio presentation preparationOne-day simulation4½ hoursJA facilityPresentationDebriefPrior to the simulation students typically spend 3 class periods (or adequate homework time) preparing their life stages portfolio and the culminating project presentation.Portfolio will contain research and answers from each JAFP section and can be in any format (with teacher approval). A rubric is included in teacher guide.For the culminating project presentation, students are divided into teams based on the life stage they wish to focus on and feel they can act as an ‘expert’. Teams work together to develop a 5 minute presentation on their topic area. Presentations can be any creative format (with teacher approval). Rubric is provided in teacher guide.The simulation calendar is set by local JA staff. Description of simulation experience follows.The culminating presentations are given following the simulation, along with a debrief class to discuss the entire JAFP process and learnings.Remind teacher of volunteer role in the simulation – discuss further when we cover volunteer and visit information tabs of the teacher guide.Debriefing lesson provides an opportunity to reflect on the simulation and think about planning that students can do now to help assure their future goals become reality. Individual student reports will be available following the simulation - teachers may find those a helpful review tool. The lesson itself focuses on class discussion of their experience and a brief journaling activity.The post-test is taken by the students during this time, assuming the pre-test was given prior to the start of the curriculum.
77On-site Simulation 4- to 4½-hour day Volunteers Teacher role One per group of six studentsOne hour before student arrivalTeacher role
78Flow of the Day Welcome Set up/Discovery Research Budget Shopping PaymentPaperlessPaper-basedStudents arrive at the JAFP site and gather for a brief welcome and orientation that gives an overview of the initial steps they will be doing in the simulation.Paperless:Volunteers will check-out a tablet to each student and assign them an account number and associated PIN number. They login to the software and answer 5 lifestyle questions about their plans/hope for their financial future. They then see their persona for the day – including income, job title and education background, marital status, if they have children, existing savings and debt, plus their credit score. They will calculate their NMI and their household NMI – adding spouse income for those who are married.Volunteer leads a discussion on savings and students decide what they will set as a monthly savings goal and allocate that savings to their retirement account, their emergency fund, and to “other” savings.The next phase is research – the volunteer will lead their group students to each business in JAFP, following a prescribed order and grouping. Students will read and discuss the information they ‘unlock’ on their tablets for each business/budget category. The volunteer helps spur discussion by utilizing a discussion question for each category. Note: during this phase students see average cost of items for their area but do not see specific prices.After research is complete students will build a monthly budget, informed by the research and discussion they just had. They allocate 100% of their household NMI during this phase – they will have the ability to spend more or less than they budgeted during shopping.Next students revisit each business the Park to shop and make decisions. At this time they discover the price associated with each choice and discover how close they came to budgeting correctly based on their wants and needs. Students may spend more in a category than they budgeted, but overall they may NOT spend more than their income. They may NOT dip into existing savings. They can choose to change this month’s saving amount but it may not dip below the 2% minimum required in JAFP.Once they have selected all they items they wish to purchase and have money left or a 0 balance, they pay for all their shopping items. Some items are paid for with a debit card (groceries, gas and maintenance for their car(s), entertainment, etc.) and other items are paid electronically by making a online payment from their banking account.When payment is finalized they will see the 6 lifestyle questions again – we want to see if any of their responses have changed following the simulation experience. They will also get a final report that appears on their tablet. In their assigned groups, the volunteer will help debrief the experience – again with some guided questions.JA staff will gather students together at the end of the day and debrief with some local financial statistics or questions for the students before they are dismissed to the busses.Paper-based:Volunteers hand out a packet of 3 papers to each student. The first is the persona. Volunteers will lead a discussion where students will share highlights of their assigned life situation – including income, job title and education background, marital status, if they have children, existing savings and debt, plus their credit score.They will calculate their NMI and their household NMI – adding spouse income for those who are married - on the NMI worksheet.When completed the students log in to the software, using the account number and PIN they were assigned. They will see 6 lifestyle questions – which they answer as they are today – an 8th grader, high school student, etc. After, they will see their persona page and select an avatar for themselves. They use the software to verify their NMI calculation was correct and record their savings decision.The next phase is research – the volunteer will lead their group students to each business in JAFP, following a prescribed order and grouping. Students will read and record the answer to the research question they have on their research worksheet. The volunteer helps spur discussion by utilizing a discussion question for each category. Note: during this phase students see average cost of items for their area but do not see specific prices.After research is complete students will build a monthly budget, informed by the research and discussion they just had. They allocate 100% of their household NMI during this phase – they will have the ability to spend more or less than they budgeted during shopping. They record their budget initially on a worksheet and they log into the software to record their final budget plans.Next students receive a packet of papers – one from each business that will detail the shopping choices they have. At this time they discover the price associated with each choice and make selections. They discover how close they came to budgeting correctly based on their wants and needs. Students may spend more in a category than they budgeted, but overall they may NOT spend more than their income. They may NOT dip into existing savings. They can choose to change this month’s saving amount but it may not dip below the 2% minimum required in JAFP.Once they have selected all they items they wish to purchase and have money left or a 0 balance, they revisit each business to pay for their shopping items. Some items are paid for with a debit card (groceries, gas and maintenance for their car(s), entertainment, etc.) and other items are paid electronically by making a online payment from their banking account.When payment is finalized and they verify their balance is positive or 0 they will print a final report. In their assigned groups, the volunteer will help debrief the experience – again with some guided questions.
79Virtual Simulation Four sessions The Truth Revealed The Big Search Budget PuzzleFinal Commitment“Extras” roundNOTE TO STAFF: for Virtual simulation training substitute in the training slides you currently use.
80Teacher Resources Video to introduce program Pre-/Post-Test Web page linksPowerPoint slides