Overview and Background: Unit: Figuring Out Finances

Lori Holt : Cheney USD 268

Economics. Special Education. : Economics. Special Education. : Language Arts. Special Education.

Cheney : Grades 2 - 2

Title:	Figuring Out Finances
Topics:	Finances
Time Frame:
Start Date:	-
Status:	Draft
Date Revised:

Other Designers:

Summary:
This unit is designed to improve students' understanding of finances.

Print Materials Needed:

Resources:

Resource Attachments:

Internet Resource Links:

Notes:

This unit is designed for special education students.

Stage 1: Identify Desired Results

State:	KS       5
Title:	Economics
Standard(s):	The student makes effective decisions as a consumer, producer, saver, investor, and citizen.

Understandings:
user	Good financial planning requires good record keeping and budgeting to account for income, savings, taxes and expenses. Daily lives will be enhanced through the use of technology. Financial planning and budgeting help us reach our financial goals.

Essential Questions:

User

What does planning have to do with the checkbook balancing at the end of the month? Why is a budget important? What things are included in your financial goals? Why should you start to save and plan for the future? Is tomorrow OK? Why do individuals/families struggle/succeed financially? What are the consequences (positive or negative) of having a financial plan? How do we eliminate or minimize roadblocks to financial planning?

Knowledge and Skills:

K
-Basic knowledge of employee pay and deductions, including mandatory federal and state income taxes and optional deductions made for health insurance and savings.
-A basic budget plan with how much income you will have, how much money you will spend, and how much money, if any, will be left over.
-Computer and information literacy skills which include the ability to access, evaluate, and use information from a variety of sources.

S
Compare needs vs. wants.
Design a savings plan.
Evaluate the need for the various insurances (health, life, home, car, disability...).
Analyze fixed vs. flexible expenses.
Experience a family's finances through a 12 month budgeting simulation.
Design a 3-month budget for you.

Stage 2: Determine Acceptable Evidence

Assessment Summary:

Task/Prompt: PA

Type:

Topics: Finances

Summary:

Print Materials Needed:

Resources:

Resource Attachments:

Internet Resource Links:
Link 1: http://
Link 2: http://
Link 3: http://
Link 4: http://
Link 5: http://

Notes:

Student Directions:
The students that have a checking account or saving account will bring theirs in and we will balance and budget them.

Task/Prompt: PA

Type:

Topics: Finances

Summary:

Print Materials Needed:

Resources:

Resource Attachments:

Internet Resource Links:
Link 1: http://
Link 2: http://
Link 3: http://
Link 4: http://
Link 5: http://

Notes:

Student Directions:
The students will go to the elementary school and teach the second or third graders the importance of budgeting, saving and wise spending for their future.

Other assessment evidence to be collected:

Stage 3: Plan Learning Experiences and Instruction

Learning Activities:

1. Share two true stories with the students, one story about financial success and the second one about financial ruin.
2. Show students examples of financial records and documents will be shown to the students ie: bank statements, interest earned from CD's/savings, interest paid on loans, credit card balances and interest rates, and retirement records.
3. Discussion of checking and saving accounts, budget keeping, tracking of expenses, various types of loans, and credit cards.
4. Go to the local bank and have bank staff talk to the students about checking and savings account, interest paid and earned on loans. Also, have the bankers talk about what is needed when asking for a loan.
5. Have a Financial Advisor come and talk to the students regarding saving for retirement, buying a home or saving for college.
6. Interview the different age groups of people such as the elderly, middle age, college students, and teenagers and discuss the different ideas and advise regarding finances. (saving and spending)
7. Have the students do a 3 minute quick write reflecting what they have found helpful in this unit and what they have learned to answer the Essential Questions.
8. The students that have a checking account or saving account will bring theirs in and we will balance and budget them.
9. The students will go to the elementary school and teach the second or third graders the importance of budgeting, saving and wise spending for their future.