This learning module addresses the use of money for years 3-4 (7-9 years of age). It builds the concepts of earning, saving and spending money. It also develops an understanding of the value of Australian notes and coins. Students work in groups and are taught to value group members' contributions to achieving a group goal.
Saving, Spending, Financial Literacy, Money, Budget, Goals
Every Chance to learn: ACT Curriculum Framework
As a result of completing this learning module, students will be able to:
EXPERIENTIAL OBJECTIVES
ELA24 : The student makes informed choices about money and finance.
24EC2 : Use bartering and money as a way of exchanging goods and services.
ELA 5 : The student contributes to group effectiveness.
5EC4 : Listen actively when working in groups.
CONCEPTUAL OBJECTIVES
ELA24 : The student makes informed choices about money and finance.
24EC1 : Forms of money
24EC4: Differences between needs and wants
24EC7 : Recognises Australian coins and notes
ELA 12 : The student takes action to promote health
12 EC 4 : Food choices for good health.
ELA16 : The student understands and applies number.
16EC10 : counts collections fluently by ones, twos, fives and tens.
ANALYTICAL OBJECTIVES
ELA24 : The student makes informed choices about money and finance.
24EC3: The meaning of prices.
24EC5: The concepts of spending and saving money.
24EC8: Using money to buy basic goods and services.
24EC9: Compare prices of similar items.
24EC10: Order spending preferences.
ELA5 : The student contributes to group effectiveness
5EC3: Make decisions in small groups to achieve common goals.
5EC5: Show care for and encourage other members of a group or team.
5EC8: Talk about their role in completing a task.
ELA 16 : The student understands and applies number
16EC7: Create, interpret and solve practical problems involving whole numbers.
16EC15: Explore numbers and calculations using calculators.
APPLIED OBJECTIVES
ELA24 : The student makes informed choices about money and finance.
24EC2: Barter and money as ways of exchanging goods and services.
24EC3: The meaning of prices.
24EC4: Differences between needs and wants.
24EC5: The concepts of spending and saving money.
24EC8: Using money to buy basic goods and services.
24EC9: Compare prices of similar items.
ELA1 : The student uses a range of strategies to think and learn
1EC4: Talk about their thinking and how it has changed.
1EC7: Practise their learning.
ELA 16 : The student understands and applies number
16EC15: Explore numbers and calculations using calculators.
16EC4: Operations of addition and subtraction with two-digit numbers and strategies for solving addition and subtraction problems, including counting, using concrete materials, and breaking apart and combining numbers.
Gathering Prior Knowledge
The learning intention is to use co-operative strategies to find out what the children know about money.
The learning intention is to identify what the students know about where money is in our society.
1. Graves, Nan and Ted (1990). A Part To Play. Vic., Australia: Latitude Publications.
2. Kagan L. and Kagan Dr S.(2007), Structures for Cooperative Learning and Active Engagement. Vic, Australia: Hawker Brownlow Education,
3. ITC (2009). Innovative Teachers’ Companion. Sydney: ITC
Here are a 'list of references' used for the unit.
Let's view the website.
Reflect and discuss the things you noticed by viewing the website.
Is there any information we can add to our money chart?
Money in Society
The learning intention is to expose students to the many ways money is used.
NB: This is an American website, so some things such as pennies and dollar bills do not apply. This will need explaining.
What other ways do we use money that you didn't think of before?
When is money used in society?
You will be in small groups and given 5 talking chips. Each time you speak you place one chip in the center of the groups. When someone is holding the chip no one else can speak. When you have used all your talking-chips you cannot speak.
Money in Society
The learning intention is to use co-operative strategies to find out the many ways money is used.
Listen to guest speaker to find out how we get money to spend.
Huddle together in pairs and share what you have found out about earning money. I will ask one person from each group to quickly say one idea about how money is earned. This is called a 'whip'.
How do people earn money?
The learning intention is to recognise that people in society perform jobs to earn money.
Remember three ways to get money and record them in your book.
Let's share ideas by using a 'whip' around. Each child quickly shares an idea. Each idea can only be shared once. You may add other ideas to you book if you like.
Create a money tree. Write one job on each leaf.
How do people earn money?
Take home an 'interview sheet' and ask your family the following questions.
Share with the class what your results are. Add any new ideas to the money tree.
Earning money
The learning intention is to gather information from families about how people earn and save money.
During circle time, answer the question - What could you do if you couldn't earn money?
Students offer suggestions.
Students complete a T-chart. They need to fill in the positives and negatives about earning money.
Surviving without money
The learning intention is to suggest ideas about what students could do if they didn't earn money.
Check in - Look at the money tree and see how adults earn money.
Swap positions with someone whose parents earn money working in the day/night/in hospitals/in schools/in big offices/in little offices/as electricians or plumbers or carpenters/on computers etc
Form new groups of 2. Go back to desks, discuss and write down as many ideas as you can in 4 minutes about how you could earn money at school.
Come back to circle and share.
Swap positions with other students is you think you would be allowed to clean the floor/sharpen group pencils/clean the yard at any time of the day?
What restrictions need to be discussed?
Check out - What jobs do you think you could do to earn money at school?
Earning money in the school.
The learning intention is to determine the jobs students can do to earn money and to determine how much money students will earn.
Read 'The Dollar Special'
(Edwards P. (1995) The Dollar Special. Australia. Longman Cheshire)
Let's use a jigsaw to become experts on a coin or note.
Students form home groups.
Each member of the home group will form new groups in which you will be given a particular note or coin to learn about.
Complete the table of features about your currency.
You will then need to go back to your home group and teach them what you have learnt.
As each person in your home group presents their currency, complete the table of features.
Let's draw/rub/colour the notes and coins.
Play money game.
Table of Features
|
Name |
Drawing | Colour | Worth |
Pictures |
Recognising Australian money
The learning intention is to identify Australian currency.
NB: These activities will be completed in the maths sessions.
Order coins from smallest to largest value.
Place money in centre. Which one would be best to spend at the canteen? Why? What could you buy with it?
Lets look at 5c pieces and the best way to count them. Repeat with 10c.
Lets put the coins on a number line.
Let's play money games and shops.
Solve word problems using money.
Practise counting and combining money. Record answers.
Fast Finishers – Roll, Count, Buy.
Recognising the value of money and combining amounts.
The learning intention is to understand the value of money and groups of money.
Listen to the story, "Rock Brock and the Savings Shock".
What did the book make you think about? Share this with a partner and then a small group.
Accounting Strategies
The learning intention is to show students examples of accounting.
In groups, have a look at how different people record the money they earn and use. Look at each method and pass it on to the next group. How are they the same and different? Use highlighters to colour the things that are the same in each record.
Are there words you don't understand?
Accounting Strategies
The learning intention is to expose students examples of accounting strategies.
Let's look at ways people keep a record of their savings.
Take a look at each part of the ledgers. What would go in each column? Why would the total column be useful?
Analysing ledgers
The learning intention is to analyse the function of each part of the ledger.
Use your individual ledger to record the money you earn each day, the gifts you receive, the money spent on temptations, and any loans you receive.
Use your group ledger to record the final earning for the group for the day. Are you on track to achieve your goal?
At the end of the week use a calculator to add up how much money you have and how much your group has.
Reflect on how successful you were at earning and recording. Do you need to set a goal for next week?
Using a ledger to record earnings
The learning intention is to use a ledger to record earnings.
We are going to come up with ideas about how we can use our money.
'Make a decision' about how to spend the money and how it will be organised.
We will be saving our money and then spending it when we have enough.
Making decisions about how to use money earned.
The learning intention is to decide on how to use the money teams have earned.
We are going to create a collage of foods and sort them into healthy foods (that we need)and unhealthy foods (that we want).
As you cut out a food glue it on to the section that you think the food belongs to.
Foods that we need and food that we want.
The learning intention is to identify healthy and unhealthy foods for the party (needs vs wants)
Use the talking stick to tell your team which food types - healthy or unheathy - you would like for the party and why they are the best choice. Take 1 minute then pass the stick on to your left.
Vote on the style of party your group would prefer - healthy/unhealthy/mix of both
Look at the catalogue and cut out the party food you would like.
Order the food according to which foods you would like most to least.
List foods you would like in your books and provide reasons for your choices.
1 student per team(spokesperson) will stay at the home table while the rest of team move to next group. The spokesperson tells the other groups about the ideas. The other group provides feedback and this is listed using a different coloured texta. Rotations continue. When original group members return they share their ideas.
Now you might change your food choices if the group decides to.
Write your menu up on A4 paper.
Plan the party food.
The learning intention is to make a list of party food and justify their choices.
Circle the foods your group would like to buy for the party.
On the sheet list the food and the price.
Add up the prices.
How much will your group spend for the party?
Planning a budget
The learning intention is to plan a budget to buy the foods for the party.
How much money does your group need to earn?
How much does each individual need to raise?
How long do you have to raise the money?
Write ideas in your book.
Setting a goal
The learning intention is to make decisions about what individuals can do to help achieve the group goal.
Use 'Freeze Frames' to demonstrate positive and negative group work.
In your own group decide what the individuals will do to help your group.
Behaviours that will help achieve goals
The learning intention is to investigate the behaviours that will help or hinder the groups achieving their goal.
You will be given the chance to buy items throughout the coming weeks. You will need to decide whether to accept them or reject them. Will group benefit if you purchase this?
To help you decide whether to accept the offer you may need to complete a PCQ sheet. This will list the positives for accepting, the negatives and the questions you will need to consider.
You will also be given the opportunity to borrow money at the end of the unit for your party food. This will need to be repaid with interest after the party is over.
Introducing temptations, gifts and loans.
The learning intention is to expose students to the concepts of temptations, gifts and loans.
Read 'A Present For Mother's Day'.
Review your party food choices and check whether you have enough money to buy them. What can you do to make sure you can afford the foods you want? What could you miss out on? How can you obtain the money? (loans) Is there a compromise? (home brand vs name brand)
Go to the shops and buy your party food. Make you have enough money for your food before you go to the checkout. Use a calculator to check that you have enough money. Check with a teacher or parent helper before going to the checkout.
Go to the park and celebrate. Take a gallery tour to look at what other groups have bought. Reflect.
Enjoy your party!
The party
The learning intention is to use money in society
Answer the following questions
Write on 2 stars (explaining what went well) and 1 wish (what you could do better next time) to explain your ideas about the party.
Analysing the party
The learning intention is to evaluate the party
Use "Inner and Outer Circles" to share ideas.
Once you have decided on an idea, complete the placemat.
You may draw pictures to explain the ideas or write about your thoughts.
Choosing how to spend money
The learning intention is to creatively design a new strategy and goal to use money.