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Teacher's Guide

Lesson Plans for each unit · Answers to games, puzzles and quizzes Classroom and homework exercises · Additional resources and information

Dear Educator:

On behalf of The National Theatre for Children, we are pleased to provide the Mad About Money performance and student workbook for use in your classroom. The Mad About Money program is designed to teach students how to budget, save, invest, and use credit. The student workbook includes basic concepts, activities, and games relating to these financial topics while requiring students to use skills from the middle school curriculum. We encourage you to use the workbook as well as send it home with the students. Beginning the dialogue about financial literacy in families is critically important. To that end, the workbook is available in English as well as Spanish. This teacher's guide includes an answer key for the student workbook and guidelines for leading them through each of the topic areas. We appreciate the work you are doing to educate your students about the importance of developing smart financial habits. Visit the following websites for additional information and resources:

www.jumpstart.org · www.jumpstart.org www.moneyskill.org · www.moneyskill.org www.mymoney.gov

Youve Seen the show, now evaluate the program! You could win $250 WORTH OF FREE BOOKS for your school! To evaluate the program and classroom materials:

1. Fill out the evaluation provided by the performers. 2. Turn in your evaluation to the office.

Thanks and good luck!

· www.FL2010.org · www.mymoney.gov

We make teaching fun!

Comments or questions? Contact us at: The National Theatre for Children, Inc. 2733 Park Avenue, Minneapolis, MN 55407 1-800-858-3999 www.nationaltheatre.com

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Copyright

© 2007 The National Theatre for Children, Inc.

Lesson Plan: Prioritizing Needs and Wants

Objectives

Students will identify their needs and wants. They will then create a budget.

CURRICULUM CONNECTIONS

Preparation

Students have reviewed the Needs vs. Wants section of the workbook and completed the activities. They have done some basic research on prioritizing needs and wants and making a budget.

Family and consumer economics: Importance of budgeting Math: Addition, subtraction, thousand, million, billion Social studies: What are the needs and wants of a community? English: Essay writing Budget creating skills Critical thinking Long-term decision making

Time

·30-minute class period

SKILLS

Materials

· Mad About Money Student Workbook · Hand calculator

STANDARDS

Procedure

Part I: Journal Entry How much money would it take to live on your own when you are 18? What kinds of things would you have to pay for each week? Month? Year? Part II: Class Discussion Ask the students about their needs and wants. Needs usually come first and wants come second. After listing some needs and wants and reviewing the words in the word search, have the students discuss some of the items. Some students may think they are needs and some may think they are wants. Finally, you can discuss: · Do any of the students provide their own needs? · How about their wants? · Where do students get the money to pay for their wants? · What are the needs of a local business or the community as a whole? Part III: Group Work Split students into groups of 3 or 4 and have each group create a budget for a family of four for one year. · Can't spend over $60,000 · Students should determine needs and wants first, then figure out what they can afford to pay for Regroup as a class and discuss: · How groups decided to allocate budgets · Why groups decided to designate money to certain needs and wants

National Council on Economic Education: 1, 2 McREL National Economic Standards: 1, 2 McREL National Life Work Standards: 3 Jumpstart Money Management Standards: 1, 3, 4

W ORDFI N D

B T E N S N E A K E R S C E L L P H O N E M D U L B U S F A R E Y S B P O O N V I D E O S T H P T O C Y E O M D O E B L H K H D L C K V H R L I E B C B D E A D A E I E S A M A T U I T I O N S G G W I R R N C R A G C U M O V I E T I C K E T S T R O P S Q T U N E S E S C O Y L A P T O P R

Homework/Individual Work Students determine financial goals for themselves and for their family. Have them list these and discuss in class. Assessment Homework (Workbook) Class participation, group work

My B udget

$74.00 -- Total in

$59.50 = $14.50 Total out Balance

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Lesson Plan: Saving and Investing

Objectives

Students will learn about the basic types of savings plans and investment strategies by using research skills, critical thinking, and group work.

CURRICULUM CONNECTIONS

Preparation

Students have reviewed the Saving and Investing section of the workbook and completed the corresponding activities. To prepare for the discussion on saving and investing, they will do internet research or access saving and investing literature.

Family and consumer economics: Why should families save and/or invest? Math: Addition, multiplication, percentages Social studies: The history of the US Stock Market English: Essay writing Reading comprehension Critical thinking Oral presentation skills

SKILLS

Time

·30-minute class period

Materials

· Mad About Money Student Workbook · Hand calculator

STANDARDS

Procedure

Part I: Journal Entry Do you have financial goals for your life? Describe some short term goals and some longer term goals. What are different strategies for making the money to pay for these goals? Part II: Class Discussion Talk about what they entered into their journals. How many students have similar goals? Explain that the basic concept of investing is having your money make money. Clarify: · Concept of compounding (review the "Savings Account vs. Savings Bond" activity to cover both compounding interest as well as different interest rates) · Review Bonds, Stocks and Mutual Funds · Risk and return Part III: Group Work Divide class into 3 groups: · One group opens a savings account with an initial balance of $500, with an average return of 1.5%. · A second group buys bonds with an average return of 3.5%. · A third group buys certificates of deposit with an average return of 5%.

National Council on Economic Education: 10, 11 McREL National Economic Standards: 2, 7 McREL National Life Work Standards: 3 Jumpstart Saving and Investing Standards: 1, 2, 3

Savings Account or Savings Bonds

*Calculations are rounded up

Starting Interest New Balance Earned Balance $1000.00......................................$15.00 ........................................$1015.00 $1015.00......................................$15.23 ........................................$1030.23 $1030.23......................................$15.45 ........................................$1045.68 $1045.68......................................$15.69 ........................................$1061.37 $1061.37......................................$15.92 ........................................$1077.29 $1077.29......................................$16.16 ........................................$1093.45 $1093.45......................................$16.40 ........................................$1109.85 $1109.85......................................$16.65 ........................................$1126.50 $1126.50......................................$16.90 ........................................$1143.40 $1143.40......................................$17.15 ........................................$1160.55

Savings ACCOUNT (1.5%)

How much interest does each group make after one year?

Regroup and discuss each group's answers.

Assessment Homework (Workbook) Class participation, group work

Starting Interest New Balance Earned Balance $1000.00......................................$50.00 ........................................$1050.00 $1050.00......................................$52.50 ........................................$1102.50 $1102.50......................................$55.13 ........................................$1157.63 $1157.63......................................$57.88 ........................................$1215.51 $1215.51......................................$60.78 ........................................$1276.29 $1276.29......................................$63.81 ........................................$1340.10 $1340.10......................................$67.00 ........................................$1407.10 $1407.10......................................$70.36 ........................................$1477.46 $1477.46......................................$73.87 ........................................$1551.33 $1551.33......................................$77.57 ........................................$1628.90

Savings BOND (5.0%)

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Lesson Plan: Cash or Credit

Objectives

Students will compare the details of several different spending methods and use research skills, critical thinking, and group work.

CURRICULUM CONNECTIONS

Preparation

Students have reviewed the Cash or Credit section of the workbook and completed the activities. They have done some basic research on different payment methods. To prepare for the discussion on cash and credit, they will do internet research or access credit card literature.

Family and consumer economics: Different ways of spending and their advantages/disadvantages Math: Addition, division, percentages Social studies: The history of credit and credit cards English: Word comprehension, sentence construction, essay writing Budget creating skills Critical thinking Long-term decision making

Time

·30-minute class period

SKILLS

Materials

· Mad About Money Student Workbook · Credit card information or online content from a variety of credit card companies that provides the APR (Annual Percentage Rate) and basic details of payment methods · Hand calculator

STANDARDS

Procedure

Part I: Journal Entry What are the different ways to pay for an item? What is credit? How is it different than using cash? What are the advantages/disadvantages of each? Part II: Class Discussion Review the concepts of paying with cash or credit. Discuss the advantages of each method. Go over the Cost of Credit table in the Workbook. Is it worth it to buy an item if you have to pay more over time? Part III: Group Work Divide the class into 3 groups and have each group be responsible for discussing one of the interest rates from 3 different credit card companies. Each group should compare their APR and apply this interest rate to a purchase of $250.00. Searching the internet for credit card payoff calculators is an easy way to determine interest amounts and payoff times. Then present the information to the class using posters that show the details. As a class, discuss: · Where students found their information · Definitions of "APR" · What they learned about the differences between paying with cash and paying with credit

National Council on Economic Education: 5, 7, 8, 9, 11, 12 McREL National Economic Standards: 2, 3 McREL National Life Work Standards: 3 Jumpstart Money Management Standards: 1, 2, 3, 4, 5

Assessment Homework (Workbook, research/bring in credit card information) Class participation, group work

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Lesson Plan: Importance of Forming a Savings Habit

Objectives

Students will understand the concept of saving while young by using research skills, critical thinking, and group work.

CURRICULUM CONNECTIONS

Preparation

Students have reviewed the Forming a Savings Habit section of the workbook and completed the corresponding activities.

Family and consumer economics: How saving works Math: Addition, subtraction, multiplication, division, percentages Social studies: A bank's influence on the national economy English: Word comprehension, essay writing Comprehension of saving terminology and use Word comprehension Advanced math skills Critical thinking

Time

·30-minute class period

SKILLS

Materials

· Mad About Money Student Workbook · Hand calculator

Procedure

Part I: Journal Entry How do you get money? Allowance? A part time job? What do you do when you get money? Do you spend it all at once? List the different ways you receive money (income) in a week. Part II: Class Discussion Have the class compare the different ways they get money, also talk about what they spend it on and how they spend it. Does anyone save a little bit of all the money they get? Discuss: · How do people receive income? · Who saves? · Why is saving important? Part III: Group Work Present the following scenario to the students: Over the course of a week, you earn different income. You get a $10 allowance, you earn $25 at a part time job, one of your grandparents gives you $20 for your birthday and a friend gives you back $5 he borrowed from you. Then divide the class into 3 groups and assign each one different factors: · One group saves 5% of their income · A second group saves 10% of their income · A third group saves 15% of their income Have them answer the following questions among themselves: · How much income do you have total? · How much does each group save from their income? · What could each group buy in the future with their savings? Regroup and discuss each group's answers.

STANDARDS

National Council on Economic Education: 5, 7, 8, 9, 11, 12 McREL National Economic Standards: 2, 3 McREL National Life Work Standards: 3 Jumpstart Money Management Standards: 1, 2, 3, 4, 5

H ow Fast Money Adds U p

How much I paid So far I earned myself 10% I've saved $10.00 ..........................$1.00 .................................$1.00 $12.00 ..........................$1.20 .................................$2.20 $136.00........................$13.60...............................$15.80 $6.00.............................$.60 .................................$16.40 $18.00 ..........................$1.80 ................................$18.20 $20.00 ..........................$2.00 ................................$20.20 $72.00 ..........................$7.20 ................................$27.40 $112.00........................$11.20...............................$38.60

Assessment Homework (Workbook) Class participation, group work

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Crossword Puzzle

Across 4. cash 7. balance 10. payments 13. mutual 15. bonds 16. prioritize 17. risk 18. loan 21. owe 23. earn 25. stocks 26. debt 27. budget

Down 1. rate 2. account 3. interest 5. spend 6. bank 8. compounding 9. principal 11. savings 12. buy 14. finances 19. invest 20. credit 22. money 24. need

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R A T B B A L ANC E N O P M K R P A B O I N MU T U A N Y C F D I P R I OR I T A N N LOAN G N C OW E M S TOC K N DE B T Y

1 6 8 10 12 13

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I N T E R YME S L T

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I Z E

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I N V E A R N E S T E BU DG E

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A CA C O U N N T S A V I BON G R I S

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S H P E N D

D S K

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C R E D I T

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Information

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