6th Grade Personal Finance (BizKid Video Series)

Lesson1:  What is Money/Currency?

  1. ** video** Show this BizKid Video:  
  2. 3:57 sec. Eps. 102 Currency - Definition and an explanation on how money is exchanged for goods and services.
  3. http://bizkids.com/clip/what-is-a-biz-kid
  4. 1.46 sec. Eps. 102 - Cave Men try and trade for goods... http://bizkids.com/episode/what-is-money
  5. http://www.clevelandfed.org/Learning_Center/Online_Activities/index.cfm
  6. and http://www.clevelandfed.org/Learning_Center/Online_Activities/explore_money/index.cfm
  7. Lesson 01: Google Presentation PPT: https://docs.google.com/presentation/d/1O3YcLbpjwBnavEELj39T1t3n32mWULT7ZlXtnOcFeZs/edit?usp=sharing
    1. NOTE:  Where do you get money?  

      http://bizkids.com/clip/getting-money
      http://bizkids.com/clip/profile-kelsey-angel-chocolates - Great example of working for your money
      http://bizkids.com/clip/profile-young-americans-bank - What is a business plan?  Good explanation! What is collateral? (secondary source of payment if you can’t pay off the loan)  You Earn what you make. You work for money!

Lesson2:  Spend 1 Million dollars and What's Your Money Personality?

  1. Millionaire Questionaire.PDF T/F PDF also shows Balance Sheet/Net Worth (Assets - Liabilities = Net Worth Chart) - Teachers Notes:  millionaire_lesson_teacher_edition.pdf

  2. 2:00 sec. Eps. 104 EQ: Rebecca opened store because she loved it so much.  She got rewarded later in life.  What rewards are you willing to wait for in life and what would you sacrifice for it?  BONUS: What are 4 things you can do with your money? 

  3. Day 3:

  4. What can you do with $1 M. ?

  5. Show Video: What are 4 things you can do with your money

  6. Step 1: Preview Questions



    1. What is the first thing you want to do when you get your money?

    2. Are you itching to go to the mall or the movies to spend it, or do you want to save it?

    3. Would you describe yourself as being obsessed with bargains, in need of designer goods, or unaware of how you spend your money?

    4. Are you aware that there are different money personalities?

     

  7. Ask?  Why learn your spending personality?   ... spending Personality: http://bizkids.com/clip/sketch-wizard-of-odds  Eps.501

  8. What kind of spender are you?  http://www.themint.org/kids/what-kind-of-spender-are-you.html 

  9. Pass out the Long-term Financial Goals - Arrow Worksheet:  On the back  answer "How do you spend your time?" - for HW; turn in tomorrow

  10. Look at the PDF worksheet and fill out:  money_personalityEps501.pdf

  11. Remind students they need to fill out a "How I spent my time today" worksheet for tomorrow's lesson.

 

Lesson 03 : Setting Financial Goals the S.M.A.R.T. way. How do you spend your time?  Next (Play the Opportunity Cost - Around the room Game)

  1. 1:13 Goals... SMART (Specific, Measurable, Achievable, Realistic -Relevant, Timely)

    EQ: Setting good goals: Explain what each letter represents in the acronym S.M.A.R.T.  Now tell me one goal that you have that is a SMART goal.

  2. Next, Talk about goals and then have students open:  M1054 - Get To My Goal Worksheet.pdf (Large arrow showing how Long-termGoals are achieved with Short-term Goals)

  3. Pass out all the cards for the game Eps. 106

Lesson 04: Budgeting (Mr. and Mrs. Martin)

  1. Before we build a house, we know we need a firm foundation.

  2. Q: Is there something you want that you need money for?

  3. Do you get paid an allowance or do you have some source of income?

  4. Have you ever ran out of money? ie... at Six Flags, shopping for cloths,

  5. Could it be a lack of planning?

  6. We have choices everyday what we do with our time and even our money

  7. Explain Income vs. Expenses

  8. At time we have to cut back and save (sacrifice)

  9. What happens if we write a check and their is not enough money in our checking account to cover the check we write?

  10. How do we lose our reputation?

  11. What is creditability?

  12. What is credit?

  13. We can build and lose credit (creditability) with others and lenders

  14. Example:  If I borrow a pencil and don't give it back enough times, you will stop letting me borrow a pencil.

  15. Lets go to : http://www.handsonbanking.org/htdocs/en/k/ and click on Budgets and look at why we should do a budget.

  16. HW:  Have you lost creditability with anyone in your family that you need to right that wrong?

1) With a Parent or Adult: formulate a budget (the student's) for the last 30 days of income and expenses. This shows an accounting of the money spent or saved

2) On their Own: repair their credibility/reputation with at least one person that they did not follow-thru on a commitment, pay back a favor or debt, or return an object/money to someone from whom they borrowed. Then share with the class what the other persons reaction was and how they personally felt repairing their "credit"ability (ha ha) play on words- discuss how developing this character trait can impact them in their future financial security, career success and credibility in money and with their relationships.

 

Lesson 2 of Budgeting:

Students complete online budget from (handsonbanking.org - kid version) and print budget

Teacher continues with ppt - student fill-in blanks

Discuss: NEEDS vs WANTS; INCOME vs EXPENSES; TRADOFFS ; OPPORTUNITY COST

Kids keep a spending diary; parents can do the same.

2:24 Boxing and having control of you budget

1:24 Budgeting for Ringtones? (not that good)

1:11 (not that good)

:28 (not that good)

 

2:39 What happens if you were not to keep track of your expenses? 2:30  Why is it important to keep your expenses low? 2:38  Explain some of the difficulties with running your own business. 1:09  Income - Expenses = Profits

 

1:08 Making a Budget (good intro)

EQ: What is the importance of setting a budget?

3:21  What is the importance of setting a budget? 3:49 Genuine Life Records Company. 

What is the importance of setting a budget?

 

Personal Finance (Meet me at the Mall) - learn about scams and Internet Safety

SECURITY PLAZA:

Network Security Kiosk
Network Security Kiosk
Lesson: Online Safety
Network security officer Jim shares some prized possessions to show how to keep your computers and personal information safe while you’re online.
 
Mall Security Office Mall Security Office
Lesson: Identity Theft
Will’s laptop has been stolen! At the security office, visitors learn who stole it, and find out what a stolen laptop has to do with identity theft. They also can ask questions about identity theft and learn how to avoid it.
Book Café
Book Café
Lesson: Privacy and Personal Information
Emily asks visitors for help designing her online profile. Find out the consequences of posting personal information online and get tips about when it’s appropriate to share.
The Arcade
The Arcade
Lesson: Protect Personal Information
At the arcade, visitors defend against Cyclorean space invaders who want to steal Earthlings’ personal information. They also learn why their personal information is valuable and what’s so important about a Social Security number.

EAST TERRACE

Clothing Co.
Clothing Co.
Lesson: Modeling Scams
Isaac finds out from a modeling agent that he’s “got the look.” With Emily’s help, visitors can convince Isaac that the amazing offer is a scam, and that he shouldn’t pay for the promise of success.
Kablamo! Comics
Kablamo! Comics
Lesson: Job Scams
Keno tells visitors how he fell for a job scam and offers advice on how to avoid the same fate. Meanwhile, Captain Noscam’s game lets visitors blast key words and phrases that are used frequently in scams.
Maggie’s Miracle Cart
Maggie’s Miracle Cart
Lesson: Miracle Products
VeggieWow gives you a boost, improves your memory and clears your skin! Really? Visitors see pitches for several “miracle” products, and then work with Emily to find the clues that show these products aren’t all they claim to be.
Free Vacations!
Free Vacations!
Lesson: Sweepstakes and Giveaways
Visitors can earn a free vacation if they hit just the right spot on the spinning wheel. After they win, they learn there’s a catch. The mall security officer helps them sniff out this scam.

 

MoneySKILL is a FREE online reality based personal finance course for young adults developed by the AFSA Education Foundation. This interactive curriculum is aimed at the millions of middle school students who leave our schools each year without a basic understanding of money management fundamentals.
You will be learning in this order:  Paying for What We Buy, Tracking Expenses and Budgeting, Using a Checking Account, Expenses for Food and Clothing, Saving, Credit Cards, and Earned Income and Skill Demand.

Banking on our Future!
Kids and Teens, listen up! BOOF is Operation HOPE's financial literacy program for grades 4 through 12. Everyday thousands of youth just like you learn about the basics of banking & credit unions, checking & savings accounts, insurance, credit and investments.

Graduation Event: May 20, 2013 5PM - 6PM
Essay Contest:
Students:
     How are you implementing or practicing what you are learning about financial literacy in your life today and how will it impact your life in the future in the following three ways: (1)your career, (2) family, and (3) community (Total 5 paragraph essay)?

Parents:
     What changes in your child's life have you observed due directly to what they have been learned about financial literacy at Crews?  Have you noticed anything different like spending habits, or any deeper interest in finances and money?  Have they talked about money or giving differently due to the class?  What would it have been like if you were taught this information at their age?  Have you made changes or has your thinking been impacted from this finance class and in what ways?

 

On screen timer: http://www.online-stopwatch.com/eggtimer-countdown/full-screen/

 

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Setting goals is a great way to distinguish you from about 97 percent of the rest of the world.  Yes, if you set goals your are going to be in the top 3 or 4 percent of the world's population who never set goals.  Even better than that is writing down your goals and then making a plan to achieve it.  In the "Quest for Money" game, you will find yourself making a clear goal and then battling down the path to achieve it. 

Play Moneytopia!

This is a challenge to set goals and manage your money to meet those goals.

Take the challenge.  See if you can survive just ONE month on your own!

Over 14 million people are unemployed.  Now image you are one of them. 

First, your savings are gone.  You lost your home, you are single and you are down to your last $1000.  Accept the challenge.  Can you make it through the month?  Try the game... Spent!

Hi Score: Grant Hill $584.90  Dec. 9, 2009

Coffee Anyone?  Purchase supplies, create your coffee recipe, set your price... and start selling!

TIP: You can change your price point during the day! Keep an eye on what potential customers think as they walk by and keep an eye on what your customers think right after they taste the coffee and adjust your price to maximize profits!

Jump$tart's Reality Check

Okay . . . we won't bore you with details. We simply want you to imagine how you want to live once you're on your own. Will you buy a car? Where will you live? Do you go to the movies or sports events most every weekend? Remember, it's your life, you can do whatever you want . . . OR CAN YOU?

Imagine the possibilities . . . then fill in your choices on the next page, and get ready for a Reality Check! Chances are you'll be surprised at how much your so-called dream life will cost.

Once you've indicated your choices, we will show you what income you'll need to live the life you want. We'll even give you a list of careers that support your lifestyle. Now that's cool.
Financial Entertainment is a fun, innovative way to learn about personal finances through game play. The world is complicated enough, but getting the know-how and skills to manage your personal finances doesn't have to be!
Your Life, Your MoneyYour Life, Your Money features compelling, real-life stories of young people facing and overcoming intense economic challenges. This one-hour special will empower our youth with sound, simple financial advice - raising awareness on banking, credit, investments, budgeting, insurance, self-employment, and more.

Loaded with practical, engaging information, Your Life, Your Money has a full team of personal finance experts - including, best-selling author Beth Kobliner and syndicated columnist Michelle Singletary. The show also provides celebrity insights from hip-hop icon Russell Simmons and R&B pop singer D. Wood.
http://www.ja.org/courseware/Save_USA_2011_MiddleSchool/launcher.html

In this story, you are going to earn some money for your school by making wise decisions about your money.
Monopoly: Monopoly electronic banking.  Become a millionaire in 14 days. 

Objective:  You have 2 weeks to travel the world, buy low, sell high, earn rent, and maneuver your way to the top.  How rich can you get?

Hints and tips:  Click on the Buy Button to purchase a Property or luxury item.  When you see a Property's Market Price is higher than what you'll pay, that's probably a good deal!

Travel:  Sometimes it's better to travel quickly, because you have more opportunities to buy.  Sometimes it's a good idea to take a slower route when you want to collect more rent.

Luxury items:  Luxury items may not earn rent, but everyone wants them and they are often worth a lot more when you decide to sell them.

Portfolio:  If you ever want to know what you're worth, have a look at your portfolio.  It tells you your total NET worth.
Other Games to try:

Play these fun Monopoly online games and become a business strategy game expert. Start developing your strategy when playing Monopoly against your friends.

 
The GREAT Piggy Bank Adventure by T. Rowe Price

 
 
Other great Finance sites:  
http://www.shopsleuth.com/resources/budgeting-guide-for-kids-and-teens  
http://www.practicalmoneyskills.com/games/  

 

Internet Safety Quiz
This reading assignment is a great read for anyone looking to stay safe online.  Here is a quiz that relates to this FTC publication.


http://www.omsi.edu/tech/security.php#password - This site will help explain how to create a secure password.


Online Quiz

 


Pursue your passion in life!

Passion
Answer the following about your career:
1.  What career did you select and what is you career all about?
2.  What is it that makes your career special and proud of selecting that career?
JA Finance Park Virtual will test your decision-making and money management skills in a virtual world. You’ll
be given a fictional job, age, income, educational background, and maybe even a spouse and children. During
a series of four sessions, you’ll get a taste of what it’s like to create and use a budget,!
Lesson Plans are online.
Want to take charge of your own finances and reach your goals?  Whether you want to build your credit, your investments, or your own small business; invest in the market, a home, or higher education; shop for a loan, buy a car, or open your first bank accounts, the Hands on Banking program offers all the basic money tools, skills, and information you need.