2 Dear Teacher: If you’re like most of the elementary school teachers I’ve met over the last few years, you’ve been asked to teach a unit on basic personal finance skills. Great idea, you say, but where’s the curriculum? As you know, most are either way above your students’ heads, dull as dishwater, or sketchy (you have to do a lot of work researching, interpreting confusing directions or creating most of the material yourself). That’s why I developed Money Savvy Kids TM — a completely self-contained, multi-grade, cross-curriculum program with a spiral construct—designed to teach young children basic money management skills. It’s received rave reviews from teacher and students in schools all across the country. Now the materials are in your hands: • Teacher Handbook, complete with step-by-step instructions and teaching script • Presentation Materials (on CD-ROM) • Student Workbooks • The Money Savvy Pig ® with slots for Save, Spend, Donate and Invest and a set of goal-setting stickers. The curriculum’s simple approach gives you everything you need to inoculate children against one of America’s biggest problems: personal bankruptcy. In my years as a private banker and as an educator, I’ve learned that you cannot begin too young to develop in kids a sense of delayed gratification and to teach them the crucial life skills associated with responsible money management. If we wait until they are older, we run the risk of allowing them to develop bad money management habits that can take them years to overcome. Please enjoy every moment of Money Savvy Kids TM . It’s sure to be one of your most popular units this year. Sincerely, Susan Beacham, Founder Money Savvy Generation Here’s everything you need to transform your students into Money Savvy Kids.
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Here’s everything you need to transform your students into Money … · 2017. 10. 20. · One of the reasons children find Money Savvy Kids™ so engaging is the Money Savvy Pig®.
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Transcript
2
Dear Teacher:
If you’re like most of the elementary school teachers I’ve met over the last few years, you’ve been asked to teach a unit on basic personal finance skills.
Great idea, you say, but where’s the curriculum? As you know, most are either way above your students’ heads, dull as dishwater, or sketchy (you have to do a lot of work researching, interpreting confusing directions or creating most of the material yourself).
That’s why I developed Money Savvy KidsTM — a completely self-contained, multi-grade, cross-curriculum program with a spiral construct—designed to teach young children basic money management skills. It’s received rave reviews from teacher and students in schools all across the country. Now the materials are in your hands:
• Teacher Handbook, complete with step-by-step instructions and teaching script
• Presentation Materials (on CD-ROM)
• Student Workbooks
• The Money Savvy Pig® with slots for Save, Spend, Donate and Invest and a set of goal-setting stickers.
The curriculum’s simple approach gives you everything you need to inoculate children against one of America’s biggest problems: personal bankruptcy.
In my years as a private banker and as an educator, I’ve learned that you cannot begin too young to develop in kids a sense of delayed gratification and to teach them the crucial life skills associated with responsible money management. If we wait until they are older, we run the risk of allowing them to develop bad money management habits that can take them years to overcome.
Please enjoy every moment of Money Savvy KidsTM. It’s sure to be one of your most popular units this year.
Sincerely,
Susan Beacham, FounderMoney Savvy Generation
Here’s everything you need totransform your students into Money Savvy Kids.
One of the reasons children find Money Savvy Kids™ so engaging is the Money Savvy Pig®. As you can see, he’s different from an ordinary piggy bank, with four places to put money: Save, Spend, Donate and Invest. As the mascot for the curriculum, the Money Savvy Pig® will pop up from time to time with fun facts about money.
You will use the Money Savvy Pig® for demonstration purposes as you teach these materials. If your students have been exposed to earlier grade levels of this curriculum, they very likely will have received their very own Money Savvy Pig® piggy bank to help them get started down the path of setting and achieving personal financial goals.
Please copy the Parents Letter on the following page and send it home with your students before you begin teaching Money Savvy Kids™. This letter will introduce them to the important material that you will soon be sharing with your students.
I’m happy to announce that soon we will begin teaching a unit on personal financial management. This unit is from a multi-year, cross-curriculum program called Money Savvy Kids™. This program aligns to the academic goals that we have in place for social studies, math and reading, and teaches the skills of basic personal finance. By the end of this unit you should have a Money Savvy Kid™ living in your house!
In the coming weeks your child will learn dozens of basic economic and financial concepts. The lessons that we will be teaching include:
• Lesson 1: Budgeting and Choices
• Lesson 2: Saving and Investing
• Lesson 3: Philanthropy
• Lesson 4: Ways to Pay
In the coming weeks there will be many opportunities for dialogue in your household on these and other financial topics. You child will likely come home with questions about how some of the economic and financial concepts learned in class apply to your daily lives. I hope that these discussions will enrich your child’s learning and understanding.
Sound management of personal finances is a crucial life skill. According to national research, most parents wish that they had been taught personal finance when they were in school. I am pleased to be able to give your child the long-term advantages that this type of learning will provide.
Thank you in advance for your support and participation. And get ready to hear words like “saving,” “investing” and “tax-deferred” around your house!
Here’s what you will achieve: Lesson 1 drives home the importance of smart spending in simple and relevant ways for kids. Whether it’s learning how Ron Weasly’s parents saved for his Nimbus 2000 or how Billy blew his budget, each lesson demonstrates the importance of being fiscally responsible. By building on the basic principles of budgeting and saving, you will be able to demonstrate the value of being money savvy.
Use the corresponding “Teaching Script” for each transparency to engage and educate your students. Directions for other actions, such as showing a carton of milk and a candy bar, will be in parenthesis. At the end of this lesson, there is a letter that will be needed for Lesson 2. Please make copies of the letter, sign them and give each student a signed letter to take home to his/her parents.
Lesson 1: Budgeting and choices
The name of the game is budgeting.
L1.6
Your parents have to keep track of money that’s coming in on their paycheck and going out in bills so
they can budget for the clothes you wear, the food you eat, the TV you watch and the games you play.
If the bill wasn’t paid, the electricity would be shut off. So would the TV, and the video game system.
Lesson 1: Budgeting and choices
L1.14
Investing earns a lot more interest than saving, but you can’t touch your money for years.
Keep your paws off the cash ‘til your ready for college
Here’s what you will need:Lesson 1: Budgeting and choices
The Gotta Have It Gauge
L1.10
Do I really need this?
1.
2.
3.
4.
5.Will I still want it tomorrow?
Do I really have to buy it now?Am I sure I’ll wear it or use it a lot?
Will I have money to get the other things I want?
New Terms Learned: Accountable Fiscal Responsibility Prioritize Budget Impulse Purchase Want Disposable Income Needs Enterprising Paycheck
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Your Lesson 1 transparencies
Dollar bills A compass (optional)
Pennies, nickels, dimes and quarters
A small carton of milk and a candy bar
Different colored chalk for a chalkboard exercise
Lesson 1 worksheets found in the Student Workbook
Lesson one
Worksheet 1: How do you define smart spending?
Show me how savvy you are about saving and
budgeting by solving this Smart Spender crossword
puzzle. The first team to win will get a $10 credit
Ready to dive into a cool challenge? Well here’s your chance to take some of the valuable lessons you’ve just learned and apply them to buying gear
for a scuba diving expedition. Good luck!
Each team will be given a budget. You can “go shopping at the Diving Store” and buy anything on the list, butyou can’t go over your budget. When you’re done, a spokesperson from each team will explain to the class whyhis or her team made the decisions they made and how much money, if any, they have left. Remember, one lucky team has an additional $10 to spend anyway they want.
FOR NEXT WEEK’S CLASS: BRING IN 3 PICTURES THAT REPRESENT THREE THINGS THAT WOULD BE ON YOURWISH LIST. THE PICTURES CAN BE DRAWN, TORN OUT OF MAGAZINES OR PRINTED OFF THE INTERNET.
THE BUDGET: $250 DIVING STORE:
Diving Gear $125Rubber Duck $5Waterproof Camera $15Sunscreen $10Gatorade $1 per bottleSunglasses $10Beach Chair $20Life Jacket $25Beach Towel $15Energy Bar $2 Deck of Cards $2Television $200Boom Box $50Beach Ball $5Sandwich $2First Aid Kit $12Gym Shoes $50Marshmallows $5Jacket $30Case of 24 Twinkies $10Cell Phone $50Bottle of Juice or Water $10
Make your choices and add them here:
$250Total Budget Total Spent
- =Money
Left Over
Lesson 1, Transparency 1
This Teaching Script goes with
Today, we’re going to start a special program that will help you learn (more) about what it means to be a Money Savvy Kid. To be savvy is to be really smart about something.
The smarter you are about money, the more confident and secure you’ll be out in the world. You’ll know how to budget money, how to save it, and how to invest it. In other words, you’ll learn how to take charge of your finances so you can put your money to work for you.
and how to invest it. In other words, you’ll learn
how to put your money to work for you.
This kid meansbusiness!
Grab the bull by the horns.
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Lesson 1, Transparency 2
This Teaching Script goes with
How many of you have heard your mom or dad say something like, “We can’t get that today honey. It’s not in the budget.”
What is a budget? A budget is a plan for spending and saving your money. It makes it possible for you to keep track of your money so you can pay for those things you need (show a carton of milk) and save for the things you want (show a candy bar).
Money Savvy people develop a budget and stick to it. This month, a three-headed purple people eater isn’t in the budget. Maybe next month it will be.
How many of you have heard your mom or dad say something like, “We can’t get
that today honey. It’s not in the budget.”
Money Savvy people develop a budget and stick to it. This month, a three-headed
purple people eater isn’t in the budget. Maybe next month it will be.
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Lesson 1, Transparency 3
This Teaching Script goes with
Needs aren’t the same as wants.There are basic human needs – things like clothing to wear, a place to live, and food to keep us going. Then there are things like electricity and heat and gas for the car that are essential—or important—because they make our day to day lives more comfortable.
Wants are things we enjoy, like ice cream and toys. It’s OK to get those things, but only after we make sure all of our basic needs are met. That’s why saving money, budgeting and prioritizing our needs are so important. If we look at the items surrounding the boy in this picture, we can see why it’s important to put our needs before our wants.
Lesson 1: Budgeting and choices
Other Discussion Starters:
Can anyone give me other examples of things we need?
Why should you save your money?If you save your pennies (point to appropriate coins or currency), nickels, dimes, quarters and dollars, you could budget to pay for the things you really want and eventually have enough disposable income to get that three-headed purple people eater, a new TV, or whatever it is you’re dreaming about.
Disposable income is the money you have left after you’ve paid for everything you need, like school lunches, books, and clothes.
If you save your money, you can budget for the things you need and save the rest. Then, in time,
you’ll have enough disposable income to get that three-headed purple people eater, a new TV, or
whatever it is you’re dreaming about.
Disposable income is the money you have left
after you’ve paid for everyday expenses like
school lunches, books, and clothes.
Lesson 1, Transparency 5
This Teaching Script goes with
Why do you need to budget?Remember Ron Weasly in Harry Potter, and how he really, really wanted the Nimbus 2000 broom? Well if the Weasly twins hadn’t been enterprising—which is a willingness to act, to make decisions, and to be inventive—and if his parents didn’t budget for the Nimbus 2000, that broom would’ve been harder to grab hold of than the Golden Snitch. Their money would have zipped here, then there, then somewhere else and Ron would never have gotten his new broom.
Without a budget, your money could zip away faster than a Golden Snitch. When somebody asks where last week’s allowance went, you could find yourself saying, “It went that way. No that way. Now it’s over there. Darn it, it got away.”
Without a budget, your money could zip away faster than a Golden Snitch. When somebody asks
where last week’s allowance went, you could find yourself saying, “It went that way. No that way.
Now it’s over there. Darn it, it got away.”
Lesson 1, Transparency 6
This Teaching Script goes with
Your parents have to keep track of money that’s coming in on their paycheck and going out in bills so they can budget for the clothes you wear, the food you eat, the TV you watch and the games you play.
Can anyone tell me what would happen if the electric bill wasn’t put in the budget, and it didn’t get paid? (point to boy and girl) Just like these kids, you’d be screaming, ”Mom, the game went away!”
If the bill wasn’t paid, the electricity would be shut off. So would the TV and video game system.
Who can tell me what a paycheck is? (Payment for work or services performed.)
The boy and girl couldn’t play their game because the electric bill wasn’t budgeted for. Can anyone name other bills that come due each month and must be budgeted for? (Mortgage or rent, gas, phone bill.)
Your parents have to keep track of money that’s coming in on their paycheck and going out in bills so
they can budget for the clothes you wear, the food you eat, the TV you watch and the games you play.
If the bill wasn’t paid, the electricity would be shut off. So would the TV, and the video game system.
Lesson 1, Transparency 7
This Teaching Script goes with
Why is budgeting a good thing? (Have someone from the class come to the blackboard to do the first half of this exercise) Let’s say you have $500 a month coming in. Your electric bill is $25. Your mortgage is $254. Your gas bill is $8.00. And your phone bill is $32. How much do you have to budget for bills each month? ($319).
(Have the first child sit down, and have a second child come to the board.) Now let’s add $75 each month for groceries and another $50 for transportation, and $30 for miscellaneous expenses, like pencils and notepads, which brings your new total to what? ($474)
Now can anyone tell me how much you’ll actually be able to save each month after you’ve met all your necessary expenses? ($26)
Are there things you really want that you’re willing to save for?
OK, start a wish list, then do a little shopping on your own or with your parents. Look through the sales papers or check things out online to see how much they cost. Then prioritize the things on your list, and see if you still want all of them.
When you budget and save and spend responsibly, you can have your cake and eat it, too. Yum!
Who knew budgeting
could be this sweet!
Lesson 1, Transparency 9
This Teaching Script goes with
Remember the previous exercise where you could save $26 each month? Well let’s say you’ve shopped around and found a cool new computer game station with a 7” screen for $182. How many months would you have to save before you could go to the ATM machine and withdraw money for your new game station?
In the end, patience pays off. In this instance, how many months how would have to
wait before you could buy the video game system?
JANFEB
MAR
APRIL
JULY
MAYJUNE
AUGSEPT
OCTNOV
DEC
Other Discussion Starters:
What’s the one thing you really want that you’re willing to save for?
Lesson 1, Transparency 10
This Teaching Script goes with
We all want instant gratification. In other words, “We want what we want and we want it NOW! But when we act on that, we often get what we think we want, only to find out it’s not really what we wanted after all. That’s OK, because we all make mistakes and we can learn really important things from those mistakes.
We could, however, avoid bad spending habits by making a wish list and checking it against the Gotta Have It Gauge. What’s the Gotta Have It Gauge? It’s five simple questions you can ask yourself to find out if you really want the things you think you do.
Who can tell me what it means to prioritize? (To put things in order based on how important they are.)
Does anybody here have a wish list?
Why is it a good thing to wait for something we think we really want?
Lesson 1, Transparency 11
This Teaching Script goes with
Sarah is money savvy. She prioritizes her needs and wants and budgets for them. One day, Sarah sees a pair of shoes she wants in a magazine. She puts them on her wish list, and checks them against the Gotta Have It Gauge. Sarah knew she didn’t need the shoes, but she really wanted them. And she was pretty sure she’d still want them tomorrow. She didn’t really have to have them now, either. Sarah also realized she wouldn’t wear the shoes very often because they looked uncomfortable. Not only that, she’d have to wait even longer to get that new bicycle she wanted.
A week later, Sarah went shopping with her mom and saw the shoes in a store window. As you can see (point to image of Sarah looking at shoes on display, it was a good thing she didn’t buy them. By using The Gotta Have It Guage, Sarah saved her feet and her budget.
By using The Gotta Have It Gauge, Sarah saved her feet and her budget.
SATURDAYI’ve gotta havethose shoes. Yuck. What wasI thinking?
Other Discussion Starters:
What could Billy have done differently?
What can he learn from his mistake?
Other Discussion Starters:
What could Billy have done differently?
What can he learn from his mistake?
Lesson 1, Transparency 12
This Teaching Script goes with
Billy was saving for an MP3 player. One day while they were out playing, a boy offered to sell Billy a giant box of baseball cards for $15. Sarah asked Billy if the cards were on his wish list. They weren’t, but there was no talking Billy out of it.
Later, when Billy got home he discovered that he already had most of the cards. Worse than that, he was going to have to start saving for his MP3 Player all over again. Even though Billy struck out, he learned a valuable lesson— to stick to the game plan and control his wants so he can reach his goals. In other words, Billy learned the importance of fiscal responsibility, which means being responsible for his spending.
Billy let his emotions rule his buying, and got a bunch of baseball cards he already had.
He also had to start saving for his MP3 Player all over again. But he learned a valuable
lesson—to control his spending and stick to the game plan and control his wants so he
can reach his goals. In other words, Billy learned fiscal responsibility.
Oh Man, I struck
out big time.
19
Other Discussion Starters:
How many of you have made an impulse purchase, only to find out it was a really bad decision?
What did you learn from that mistake?
Lesson 1, Transparency 13
This Teaching Script goes with
As you can see, The Gotta Have It Gauge is a great way to keep us from making an impulse purchase, which is the type of purchase we make spur of the moment without planning or budgeting for it.
Saving our money and budgeting are both part of being fiscally responsible. So are prioritizing our needs and separating what we really want from what we think we want. It’s really about holding ourselves accountable for our spending. To hold yourself accountable, means to take responsibility for your actions.
Saving our money and budgeting are both part of being fiscally responsible. So are
prioritizing our needs and separating what we really want from what we think we want.
Smart DecisionNot So Smart Decision
Lesson 1, Transparency 14
This Teaching Script goes with
Next we’re going to learn the difference between saving money in a savings account and investing it. Both are smart ways to make our money grow. One is good for things we need right away. The other is good for things we’ll need a few years down the road.
Each team will be given a budget. You can “go shopping at the Diving Store” and buy anything on the list, but you can’t go over your budget. When you’re done, a spokesperson from each team will explain to the class why his or her team made the decisions they made and how much money, if any, they have left. Remember, one lucky team has an additional $10 to spend anyway they want.
THE BUDGET: $250 DIVING STORE:
Diving Gear $125Rubber Duck $5Waterproof Camera $15Sunscreen $10Gatorade (per bottle) $2Sunglasses $10Beach Chair $20Life Jacket $25Beach Towel $15Energy Bar $2 Deck of Cards $2Television $200 Boom Box $50 Beach Ball $5 Sandwich $2First Aid Kit $12Gym Shoes $50Marshmallows $5Jacket $30Case of 24 Twinkies $10Cell Phone $50Bottle of Juice or Water $1
Make your choices and add them here:
$
$
$
$
$
$
$
$
$ $$250Total Budget Total Spent
- =Money
Left Over
Ready to dive into a cool challenge? Well here’s your chance to take some of the valuable lessons you’ve
just learned and apply them to buying gear for a scuba diving expedition. Good luck!
1) Create a wish list that consists of three items that you’d like to purchase someday soon. Put them in order so that #1 is the item you think that you want to have the most.
2) Next, take each item at a time and test it against the Gotta Have It Gauge. Ask yourself the five questions and write down the answers in the provided table.
3) Then rewrite your wish list and prioritize your items based on what you learned from the Gotta Have It Gauge.
4) Are the items on the New Wish List in a different order than your first Wish List? Why or why not? _________________________________________________________________________________________________
5) Write down anything you can do to make getting your #1 item possible. _________________________________________________________________________________________________