Features of Financial Fitness for Life Based on national standards Engage students in the economic way of thinking Call for active learning Address concepts in a developmentally appropriate manner Emphasize a variety of teaching methods compatible with different learning styles Reinforced by assessments Invite parents to play a role 6
Topics: Earning Income Saving Spending Credit Money management 7
A Good Day for Money Objectives List simple skills required for jobs (K.9C) Define money earned as income (1.9A) Differentiate between money received as income and money received as gifts (K.9B) Identify ways to earn income (K.9A) 8
Activity 1: Making a Pocket Graph Count pockets 10 Vocabulary: gift money earn income pictograph producer/worker work skills 1 2 3 4 5 6 7
Activity 1: Making a Pocket Graph Number of Pockets Students 7 6 5 4 3 2 1 0 11
Activity 1: Making a Pocket Graph Number of Pockets Students 7 6 5 4 3 2 1 0 12
Analyze Pocket Graph How many pockets do most of the students have on their clothing? How many students have no pockets on their clothing? How many students have 3 pockets on their clothing? How many more students have 5 pockets than 3 pockets? Do any groups have the same number of pockets? Which ones? How many pockets are there in total, on all the clothing? 13
Activity 2: Exploring Human Capital (Work Skills) 14 Day 2
Activity 3: Income Chain Money We Receive 15 Income EarnedGift Money
Activity 3: Income Chain Money We Receive 16 Income EarnedGift Money
Activity 3: Income Chain Money We Receive 10 9 8 7 6 5 4 3 2 1 Earned Income Gift Money 17
Extension Music: Earning Income sung to the tune of She’ll be Coming Around the Mountain Literature: Little Rabbit’s Loose Tooth by Lucy Bates 19
Earning Income (She’ll be Coming Around the Mountain) Verse: We’ll be earning lots of income when we work (when we work). We’ll be earning lots of income, We’ll be earning lots of income when we work (when we work). 20 Chorus: We will sometimes get some money as a gift (as a gift). We will sometimes get some money, We will sometimes get some money as a gift (as a gift).
How We Save Objectives Identify income as a means of obtaining goods and services, oftentimes making choices between wants and needs (1.9B) Distinguish between spending and saving (1.9C) Calculate how money saved can accumulate into a larger amount over time (2.11A) Distinguish between a deposit and a withdrawal (2.11C) 21
Lesson 6 Vocabulary Scarcity Choices Opportunity cost Deposit Withdrawal 23 Save Spend Savings register Number sentence Comparison statement
Activity 1: A Pocket Problem on the Floor 24 What do you like to put in your pockets? What is your opportunity cost?
Activity 2: Helping Hands: Depositing or Withdrawing 25 Penny’s mom put money in her bank account every payday so that she would have money to spend during the upcoming holiday season. Was this a deposit or a withdrawal? Penny shook her piggy bank to listen to the money rattle one last time. Then she opened it and took the money out and put it in her pocket to spend at the fair. Was this a deposit or a withdrawal?