Personal Financial Literacy
Grade 3 - 5
Beth Graber
Della Hoffman
Objectives for Today
• Explain the Personal Financial Literacy
(PFL) standards at your grade level –
both Economics and Math
• Describe some resources you can use
to help teach PFL at your grade level
• Identify other sources to find more
resources to teach PFL
PFL Standards
• PFL Standards are written!
• Combined Social Studies (Economics)
and Math
Grade
Level
3rd Grade
Standard(s)
Describe how to meet short term financial goals.
Multiplying and dividing are inverse operations modeled in a
variety of ways.
4th Grade
The relationship between choice and opportunity cost.
Mathematical models are used to test predictions about the
likelihood of events.
5th Grade
Use financial institutions to manage personal finances.
In the real number system, commonly used rational numbers
have multiple equivalent representations.
Number patterns and relationships can be described using a
variety of tools.
When a relationship exists between two quantities, a change
in one results in a change in the other.
3rd Grade
Meet Short Term Financial Goals
•
•
•
•
What is my goal?
How much does it cost?
How can I earn money?
How can I make responsible decisions
in order to save money?
Pickle Patch Bathtub
by Fran Kennedy
I will cut the grass for my
parents and my neighbors.
I will help my mom weed
her garden..
I will stop buying candy at the
corner store every day.
I will walk my neighbors
dog.
4th Grade
Relationship Between Choice
and Opportunity Cost
• We can’t do/have everything we would
like to!
• We have to choose!
• Every choice comes with a cost.
So Few of Me by Peter H.
Reynolds
Time Slot
8:00 am – 9:00 am
9:00 am – 10:00 am
10:00 am – 11:00 am
11:00 am - noon
Choice
Opportunity
Cost
5th Grade
Use of Financial Institutions
• What do banks do?
– Saving
• Interest
• Accounts – Saving/Checking
– Loans
• Interest
• Credit Cards
5th Grade
Use of Financial Institutions
• What do banks do?
– Comic Books
– No Business Like Bank Business
5th Grade
Use of Financial Institutions
• Saving
– Chair For My Mother
– Saving Strawberry Farm
• Interest
– Rock, Brock, and the Saving Shock
• Accounts
– Check Writing
– www.mykidsbank.org
5th Grade
Use of Financial Institutions
• Loans
– One Hen: How One Small Loan Made a
Big Difference (www.onehen.org)
• Interest
– Basket of Bangles
• Credit Cards
– Email della.hoffman@gmail.com
Where did all these resources
come from??
• Federal Reserve Banks!
– www.federalreserveeducation.org