Elementary Financial Literacy Institute
Day 2
Melissa Groves, Ph.D.
mgroves@towson.edu
Karen Kokernak, MBA
dbatchelor@towson.edu
Financial Literacy Institute
Topics for Today
The Game Plan
• Morning: Fin Lit Standard 4
• Afternoon: Fin Lit Standard 6
• MSDE Credits
• Quiz
• Technology Training
Financial Literacy Institute
Standard 4: Manage Credit and Debt
•
•
•
•
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Why Borrow?
Sources of Credit
Interest
Payment Methods
Credit Worthiness
Why Learn about Credit?
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 2, 3 & 5
Lesson #’s 4,5
http://www.themint.org/kids/power-of-72.html
• Teaching About Interest
How Would You Like to Pay?
Lesson # 8
• Sources of credit
• Payment methods
Financial Fitness for Life
How Would You Like to Pay?
Financial Fitness for Life
How Would You Like to Pay?
Credit is Based on Trust
Do we have any budding thespians in the audience?
Lesson #12
• Credit Worthiness
Financial Fitness for Life
Credit is Based on Trust
The Cast
Financial Fitness for Life
Credit is Based on Trust
Standard 6: Manage Risks and Preserve Wealth
Standards include:
•
Insurance
•
Advertising
•
Fraud
•
Identity Theft
The Federal Trade Commission (FTC)
Source: www.consumer.ftc.gov/sites/default/files/games/offsite/youarehere/pages/parents_and_teachers.html
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 6
What is Insurance?
6.5.B Explain the need for and various
types of insurance within the life cycle.
6.5.B.1 Explain reasons for insurance.
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 6
The greater the risk, the more the need for a safety net.
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 6
Insurance is financial protection against loss or damage
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 6
“INSURANCE”
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 6
What is Insurance?
Group Research Activity:
• Divide students into groups of three.
• One student in each group will be assigned the job
of READER.
• A second student will be assigned the job of
NOTE-TAKER.
• The third student will be assigned the job of
REPORTER.
• Distribute one card from Resource 1a-c to each
group
Be a Wise Consumer
•
Advertising
Be A Wise Consumer
Advertising Techniques
HUMOR: The ad makes a person smile so they
are more likely to feel like buying the product.
BANDWAGON: The ad states that “everyone” of
any importance is buying the product therefore
others should too.
TESTIMONIAL: The ad uses a famous person or
expert to convince people that a product is better
than other products.
A Bonus Question!
What advertising technique was
used in this advertisement?
Elementary Personal Finance for the Classroom
Maryland Financial Literacy Standard 6
Source: www.moneyasyougrow.org/
Federal Reserve Educational Resources
The Piggy Bank Primer
Maryland Financial
Literacy Standards
Standard 1: Decisions
Standard 2: Income
Standard 3: Spending Plan
ORDER NOW!
https://www.stlouisfed.org/subscribe/
piggy-bank-primer
Federal Reserve Educational Resources
Great Minds Think
A Kid’s Guide to Money
Maryland Financial Literacy
Standards
Standard 1: decision-making,
opportunity cost, goal
Standard 2: Relationships
between skills and income and
Sources of income
To order go to:
http://www.clevelandfed.org/learning_center/online_activities/great_minds
_think/
or e-mail
learningcenter@clev.frb.org
Fun with Building Wealth
Piggy Bank Craft
All you need is…
• A shoe box
• Pink paper
• Scissors
• Glue/tape
• Creativity
The Matrix:
How Does it Work?
Lists standard
GRADES 3 – 5
STANDARD 1: MAKE INFORMED, FINANCIALLY RESPONSIBLE DECISIONS
Students will apply financial literacy reasoning in order to make informed, financially
responsible decisions.
1.5.A Explain that people make financial choices based on available resources, needs and wants.
Lists objectives
Recommends
materials to meet
each objective
1.5.A.1 Explain
the
consequences of
making financial
decisions.
FFFL Lessons 4, 5, 7, 8, 14 & 15
www.econed.org Lessons: Managing Your Money: Planning Your Budget;
Alexander, Who Used to Be Rich Last Sunday
1.5.A.2 Identify
opportunity cost
of financial
decisions made
by individuals.
Hands on Banking: Budgeting
Lessons 4 & 5
www.handsonbanking.org/HOB_kids_en.html
FFFL Lesson 4, 5, 7 & 13
www.econed.org Lessons: Managing Your Money: Spend or Save; Rock, Brock,
and the Savings Shock; Alexander, Who Used to Be Rich Last Sunday; Beatrice’s
Goat; The Pickle Patch Bathtub
The Matrix:
Where Can I Find It?
http://www.mdfinancialskills.org/
• Click on: “Educational Resources”
• Click on: Correlated Lessons
Grades 3-5
Source:
www.mdfinancialskills.org/resources/l
essons-grades-3-5/Lessons
• Personal Finance Standards
(Grades 3-5)
MSDE Credit Forms
• Must be filled out in ink
• Do NOT indicate credit on
the form
• Enter information shown on
the screen
An online educational simulation that teaches about
the importance of saving and investing (Standard 5)
• Participants develop skills in mathematics, language
arts, research and critical thinking, while building and
maintaining a stock portfolio.
• Common Core connections!
• Grades 4-12 (Materials are grade-band leveled.)
http://www.youtube.com/playlist?list=PLkftEU1eG079x
AfaSeAFpwWZXhd3o5RCJ
Coming Down the Home Stretch
Part 1: Room 310
• Complete quiz.
•
Turn in
• ScanTron sheet
• MSDE Credit Form and Envelope
Part 2: T. Rowe Price Finance Lab
•
Meet on 1st floor after quiz
•
Please spread the word about
the class!