financial literacy for children -...
TRANSCRIPT
Financial Literacy
for
Children
Minds
Their
The Smarter Texas Program is made possible in part
by the Council for Economic Education through
funding from the United States Department
Education Office of Innovation and Improvement.
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What is Financial Literacy?
Why do we need it?
What are some
misconceptions elementary
children have about money?
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Resources:
5 companion website: http://fffl.councilforeconed.org/
Topics:
• Earning Income
• Saving
• Spending
• Credit
• Money management
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3-5 Materials
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Objectives – Lesson 5
• Define savings, economic want, incentive, short-
term goals, long-term goals, and interest.
• Explain the elements of a savings plan.
• Give examples of short-term and long-term
goals.
• Give examples of incentives.
• Compare the advantages and disadvantages of
various savings options.
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New Mathematics TEKS
• PFL SE – (3.9F) identify decisions
involving income, spending, saving,
credit, and charitable giving
• PFL SE – (4.10C) compare the
advantages and disadvantages of
various savings options
• PFL SE – (5.10D) develop a system
for keeping and using financial
records 9
What do these four have in
common?
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Many people earn income
when they work.
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Chores, income, savings, &
goals
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Vocabulary
Savings
Trade-off
Goals
Short-term Long-term
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What’s the difference?
• These are goods:
• These are services:
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More Vocabulary
• Motivate
• Incentives
• Interest
• Opportunity Cost
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Visual 1: Savings Account Statement
• What was the beginning balance on October 31,
2009?
• How much did Ms. Savealot deposit during
November?
• How much was withdrawn during November?
• How much interest was earned this month?
• What is the ending balance in the account on
November 30, 2009?
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5.3 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?
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Decisions
Pair students up to discuss the
following:
• Explain your savings plan.
• Decide where you will keep your
money.
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Assessments:
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Assessments:
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Assessments:
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$100,000 Pyramid Game
• Choose your partner.
Game 1
• Goal
• Services
• Withdrawal
• Opportunity cost
• Interest
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Game 2
• Bank
• Short-term goal
• Personal Financial Literacy
• Trade-off
• Deposit
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On-line tools and resources
• The Mint Kids Savings
Calculator
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K-2 Materials
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Objectives – Lesson 1
• Explain how human capital is related
to work
• Define money earned as income
• Differentiate between money received
as income and money received as
gifts
• Identify ways to earn income
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New Mathematics TEKS
• PFL SE – (K.9A) identify ways to earn income;
• PFL SE – (K.9B) differentiate between money
received as income and money received as gifts;
• PFL SE – (K.9C) list simple skills required for jobs;
• PFL SE – (1.9A) define money earned as income;
• PFL SE – (2.11F) differentiate between
producers and consumers, and calculate the
cost to produce a simple item.
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A Good Day for Money
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Activity 1: Making a Pocket Graph
Count pockets
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Producers
• Producers are people who make
goods or provide a service.
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Activity 1: Making a Pocket Graph
Number
of
Pockets
Students
7
6
5
4
3
2
1
0
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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 pockets are there in total
on all the clothing?
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Activity 1: Making a Pocket Graph
Number
of
Pockets
Students
7
6
5
4
3
2
1
0
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Activity 2: Exploring Human Capital
(Work Skills)
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Mr./Mrs. __________________ can____________________.
Vocabulary
• Human capital – work skills
• Income
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Activity 3: Income Chain
Money We Receive
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Income Earned Gift Money
Activity 3: Income Chain
Money We Receive
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Income Earned Gift Money
Activity 3: Income Chain
Money We Receive
10
9
8
7
6
5
4
3
2
1
Earned
Income
Gift
Money
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Activity 3: Income Chain
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Extension - Earning Income sung to the
tune of 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 when we work
(when we work).
We’ll be earning lots of
income, We’ll be earning
lots of income,
We’ll be earning lots of
income when we work
(when we work). 49
• Chorus:
We will sometimes get
some money as a gift (as a
gift).
We will sometimes get
some money as a gift (as a
gift).
We will sometimes get
some money, We will
sometimes get some
money,
We will sometimes get
some money as a gift
• (as a gift).
Extension
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Literature: Little Rabbit’s Loose
Tooth by Lucy Bates
3-5 Materials
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Objectives – Lesson 8
• Identify methods of paying for goods and
services
• Define money, check, electronic or online
payments, debit card and credit card
• Explain the relationship between checks
and money held in a checking account
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Objectives – Lesson 8
• Identify advantages and disadvantages of
different methods of payment
• Explain why credit cards are not
considered money
• Explain how payment is made when a
consumer uses a credit card
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New Mathematics TEKS
• PFL SE (3.9D) - explain that credit is used
when wants exceed the ability to pay and
that it is the borrower’s responsibility to
pay it back to the lender, usually with
interest
• PFL SE (5.10C) - identify the advantages
and disadvantages of different methods of
payment including check, credit card, debit
card, and electronic payments
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How Would You Like to Pay?
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How do family
members pay?
What are some things that
students buy using currency and
coins?
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Other methods of payment
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check
credit card
debit card
electronic or online payment
Paying by Check
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Writing a Check
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September 7, 2011
Toys Galore 15.42 Fifteen dollars and forty-two cents
Mr. Estevez
The Check Register
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5942 9-7-11 Toys Galore $15 42 84 58
Exercise 8.1
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Exercise 8.2
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Visual 8.2
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How Would You Like to Pay?
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Lesson 9, Using
Methods of Payments
is an extension of
Lesson 8.
• Word bank activity
for each payment
method.
• Role playing
activity
Assessment
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Extensions
• Ask a local bank for sample check registers for
students to use for practice recording checking
transactions and calculating balances. Students
may create story problems to provide context for
using the register.
• Read stories about people buying goods and
services; discuss the methods of payment used.
Students may write a story about buying goods
and services using different methods of
payment.
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Extensions
• Invite a local banker to talk about the four
methods of payment and what methods of
electronic payment people may use 20 years
from now.
• Divide the class into 4 groups. Assign each
group a form of payment. Members of each
group write a skit, rap, poem, song, etc. teaching
the other students the advantages and
disadvantages of the respective forms of
payment.
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Select Grade Band
Select a
lesson
Hands on Banking
www.handsonbanking.org/en/
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