Planning for Money Savvy

Brady, Kwabe, Geoff and Urbany met to discuss current experience with the Money Savvy lessons at Muessel and Perley, anything we need to fix, etc.

The general thrust is that the lessons are going well, always seeking to find ways to engage the kids and encourage participation from all of them.

MATH. Mr. Strunk has offered some ideas to Geoff and John, particularly on the math problems that we can incorporate to help reinforce math instruction to standards. We need to build a portfolio of math problems around each lesson to give our volunteers choices and to accomodate differences across classrooms. We can use the blog for collecting those problems.

FUND-RAISING. Tom Harvey, Director of the Mendoza Masters of Non-Profit dropped in and we discussed fund-raising for next year. Tom had many ideas of folks we need to connect with including Rose Meisner of the Community Foundation, Chris Nanni, Nancy Ikeler of Asante, Mike Vogel (an Irish Angel) and Frank Belatti, an entrepreneur in residence here at Mendoza. One point Tom made was that there may be some organizations who can provide $5 - $7,000 without an arduous review process. We need to develop a plan and then get out there canvassing quickly in preparation for next year.

LEADERSHIP. Kwabe is the overall chair of School, Inc. in 2009-2010. Brady has agreed to be Director of the Money Savvy program. Kwabe and Brady will bring an outline of the business plan for Money Savvy for 2009-10 to lead the discussion at our next meeting, which is Friday, March 27 at 4:00 in Mendoza Room 121.

Thanks !

Lesson 4

Here is the lesson 4 plan Kwabe and I used at Muessel. Worked pretty well the only caution I have is to allow for more time than we did when handing out the pigs. Things kindof got off track after that.

Also here is the story problem we did in class along with the kids. We made handouts so each kid could follow along at their desks, seemed to work pretty well but it might help to review how you want to present the math before you start presenting it. For instance when I was writing it out I accidentally used a sq root sign instead of the long division sign. :-)

Lesson 4 –

Muessel Title slide – Review what we did last week

Take 5 minutes for kids to fill out WS #2 for lesson 4, then discuss Slide 1 – Explain slide, its very straightforward

Slide 2 – Discussion about saving. Does anyone here ever save money? Where are some ways that you guys save money? When you earn money do you save all of it or just a portion? Do you have way to figure out how much money to spend vs. save?

Slide 5 – Some kids use Banks to keep their money in, like adults.

Slide 6 – Savings accounts Two types of accounts Savings & Checking Checking is money you use to buy everyday things Savings is money you keep in the account for awhile – earns interest And so what is interest – any ideas?

Slide 7 – Explain what interest is. Follow slide

Slide 8 – Just used as a transition slide, read it and move on to the goals slide.

Slide 9 – Have the kids explain short vs. long term goals.

Slide 10 – Have the kids draw their savings goals in the workbook. Allow 7 minutes.

Slide 11 – Pig Explain the different slots and follow the slide. Make sure the kids are still paying attention b/c they will be distracted by the pig.

Slide 12 – Savings is the first slot on the pig. Have the kids pick out a savings sticker and put it on the pig. Give math problem regarding savings from handout. Take at least 5 minutes on it.

Slide – 16 Recap what we learned Talk about next week, spending!!

Money Savvy on Youtube

OK, forgetting that the source is Dr. Phil, this is a good video about the impact of Money Savvy fundamentals.

Once the video starts, grab the little circle and fast forward it to about :55 to skip all the promo stuff. It goes for about 5 minutes, but you can get the gist pretty quickly.

Here's the link --> http://www.youtube.com/watch?v=uW4yAoRn7VE

Math Problems

Here are the math problems we used for lessons 2 & 3.

Suppose Kwabena has 2 Dollar Bills, 3 Quarters, 2 Dimes, 1 Nickel, and 3 Pennies. How much money does he have?

Choices: $2.75 $3.56 $3.03 $10.45

If Brady deposits $5.00 into his bank account which amounts could he withdraw?

Choices: $4.50 $7.80 $1.00 $5.01

If Kwabena has $10.00 in his bank account how many $3.25 sandwiches can he buy?

Choices: 2 1 7 3

Lesson 3 Problems

List the different ways you could spend exactly $10.00 on these items. You can only buy one of each item.

T-shirt $5.00
Toy car $3.00
Stuffed Giraffe $2.50
Toy Train $7.00
Ball $4.50
Puzzle $2.00

Suppose Brady rakes leaves and gets paid $4.00 per yard. He wants to buy an X-box game which costs $25.00. How many yards will he need to rake to buy the game?

Lesson 3

 Lesson 3 – Muessel (This lesson was actually great as is, we didn't change much)

Title slide – What did we learn last week?

Give kids handout with problems on them.  Do problem #1 now and discuss.  Make a tally about different ways the kids could spend $10.00

Slide 1 – Kids can earn $ too

Did anyone earn any money over the weekend?  How? 

Explain how jobs that kids can do really are businesses, use slide for aid. 

Slide 3 – Entrepreneur stuff

An entrepreneur is someone who starts a business.   – Keep it very basic.

Slide 4 – Elena the entrepreneur

Great slide, just read through this one and move on to slide 5.

Slide 5 – Break even

Go over expenses – If she charges $5 a day how many days until she breaks even? 

“A business that fails its customers will fail itself”  - What do you think this means?

Slides 6-9

Great problem about the lemonade stand.  After slide 8 ask the kids how many cups of lemonade will Eric need to sell to earn $15 profit.  Walk them through the problem step by step.

Slide 10 -You can be an entrepreneur too

Have the kids draw business ideas of their own in the workbook, then discuss. 

Slide 11 – Recap what we learned this week

Talk about next week and pig

 

Lesson 2 - Muessel

Title slide – Review Key points from last time (History of money)

Slide 1 – Where do we get money? 5mins

·         What are some ways that you guys get money?  Either gifts or earning

Slide 2 – Where do grownups get money? – 5mins

·         From ATM’s Banks, probably won’t talk about currency exchanges. 

·         Its not magic, the money has to be put into the bank account before it can come out.

·         Can anyone tell me what a Bank is?

·         But they really earn money at their jobs. 

Slide 4 – Earn money at their Jobs – 5mins

·         Does anyone know what they want to do when they are grown up?  Give hints if necessary

Slide 7 – Time is Money – 5mins

·         What does that mean?

·         Explain that people trade their time for money. 

·         Give up free time to earn $$, what are you giving up your time for?

·         Why, because school is important, you will need it later to  earn money. 

Slide 8 & 9 – 5mins

·         Adults receive paychecks from their jobs.  Then they deposit their checks into bank accounts so they can use the money. 

Slide 10 & 11 – You can only take out what you put in. 20mins

·         Show basic examples from slide then transition to harder Q’s on overhead. 

·         At least one story problem. 

·         Do in class worksheet (something with drawing) – make a timeframe for completion and stick to it. 

Slide 13 – Summation and next week.  5 mins

·         What did we learn today, make list on overhead. 

·         Next week we will be talking about running a business and even kids can do things to earn money. 

 

Math ISTEPS, 2005-2008

The 2007-08 Annual School Performance Report was published in the South Bend Tribune on January 30, 2009.

Since 2005-06, both Muessel and Perley show upward trends, thanks in no small part to the teachers with whom we are currently working ! Both schools are now at a little over 50 percent passing.

We can see, though, that there is room to grow in stretching toward the state average and beyond.

The next ISTEP is coming up in March/ April. Let's use Money Savvy to play a part in helping prepare the kids for these important tests.