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Financial Literacy for Children

Their. Minds. Financial Literacy for Children. Smarter Texas is sponsored by TCEE, Opportunity Texas, and Bank of America. What is Financial Literacy?. Why do we need it?. What are some misconceptions elementary children have about money?.

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Financial Literacy for Children

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  1. Their Minds Financial Literacy for Children

  2. Smarter Texas is sponsored by TCEE, Opportunity Texas, and Bank of America

  3. What is Financial Literacy? Why do we need it?

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

  5. Not developing a sound understanding of personal financial literacy can result in . . .

  6. Resources: companion website: http://fffl.councilforeconed.org/

  7. 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

  8. Topics: • Earning Income • Saving • Spending • Credit • Money management

  9. K-2 Materials

  10. Objectives • 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

  11. A Good Day for Money

  12. Activity 1: Making a Pocket Graph

  13. Activity 1: Making a Pocket Graph

  14. Day 2 Activity 2: Exploring Human Capital (Work Skills)

  15. Activity 2: Exploring Human Capital (Work Skills)

  16. Activity 3: Income Chain Income Earned Gift Money

  17. Activity 3: Income Chain Income Earned Gift Money

  18. Activity 3: Income Chain

  19. Activity 3: Income Chain

  20. 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

  21. 3-5 Materials

  22. Objectives • 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

  23. Objectives • 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

  24. How Would You Like to Pay? How do family members pay?

  25. What are some things that students buy using currency and coins?

  26. Other methods of payment check credit card debitcard electronic or online payment

  27. Paying by Check

  28. Writing a Check September 7, 2011 Toys Galore 15.42 Fifteen dollars and forty-two cents Mr. Estevez

  29. The Check Register $15 42 5942 Toys Galore 9-7-11 84 58

  30. Exercise 8.1

  31. Exercise 8.2

  32. Visual 8.2

  33. How Would You Like to Pay?

  34. Assessment

  35. 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.

  36. 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.

  37. Companion website: http://fffl.councilforeconed.org/

  38. Hands on Banking www.handsonbanking.org/en/ Made possible by:

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