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Literacy:
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Students will understand the basic concepts of saving money, writing checks and borrowing money through banking. They will become financially literate by reading the newspaper, brochures, pamphlets, bank newsletters, and finding information on different websites. Students will use this information to make good decisions about saving, spending and borrowing money in order to achieve their goal of saving for college.
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Problem-Solving:
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How do the concepts of saving, spending, borrowing money help students understand the power of money? What is spending? What is saving? How do you borrow money? How can students save to obtain a short-term goal or a long-term goal? In this activity the students will concentrate on the long-term goal of saving money for college. They will examine a case study of a student who is entering the University of Texas at Brownsville as a freshman. Students will be research information about tuition, book fees, dormitory fees and they will determine how much they will need to start saving to be able to attend college. Students will understand how important it is to spend money wisely and save money for their future. They will use several problem solving strategies to save, spend, and borrow money wisely.
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Knowledge:
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The lesson will focus on saving, writing checks, borrowing money through simulation of a bank account.
Disciplinary Structures: Checking Accounts, Interest Rates, Savings Accounts, Loans, Credit Cards
Disciplinary Processes: Saving, Spending, Writing Checks, Investing, Communicating Information, Collaborating, Researching, Decision- Making.
Disciplinary Discourse Forms: Bank Statements, Presentations, Research Paper, Graphing Data, Web Pages
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Using Information:
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In this lesson students will have the opportunity to analyze different types of information sources. They will be able to access internet sites giving them advice on saving, spending, and investing money and they will also analyze bank newsletters, university pamphlets and brochures, to make a wise decision about saving for college.
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Community:
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In order to help the students learn more about saving, spending and borrowing money from banks, a presenter from the community, will be invited to talk to these students about these banking issues. The students will also be able to join a savings club at the bank that is offered to students free of charge. The lesson provides the students with real life experiences in banking. A presenter from the University of Texas at Brownsville will also be invited to talk to students about financial aid and saving for college.
The students will work in groups creating a presentation that will show their experiences through student banking and saving for college. The students will also have the opportunity to see how much other teams saved for college given their respective percentages. In using this information, they will be able to determine who is closer to their goal of saving enough money to attend college.
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Authentic Activities:
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1. Students will be divided into groups of four.
2. Each student in the group will need to research one of the following
Topics: Tuition, Book Fees, Dormitory Fees, Financial Aid.
3. The students will then teach each other about the topics they
researched.
4. The groups will then watch a video explaining about
saving money through a bank (Wells Fargo Hands On Banking), and about the different options they have
for paying for their college education(UTB Financial Aid office) .
5. Each student will be given an allowance each week and will be
instructed to save a different percentage of the allowance to start saving
for college.
6. One student will act as the banker and process the transactions of
His or her team mates.
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Background Building Activities:
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1. Each student will be assigned a topic to research.
2. Students will read university brochures and pamphlets, read internet websites, such as
Wells Fargo (Hands on Banking), to find information.
3. Students will build financial literacy through the use of
vocabulary.
4. Students will apply mathematics to everyday life by using a bank
Simulation.
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Constructing Activities:
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1. Students will research an expense that will be incurred by attending the university.
2. Students will write a summary.
3. Students will be open a checking or savings account with a team
banker.
4. The banker will provide his/her teammates with a transaction
register to keep record of their transactions.
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Sharing Activities:
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1. Students will write a journal every week about their banking
experiences.
2. At the end of the six week period, students will work together
within their teams to make a presentation on their experiences
With banking. They will also share their balance in their checking
and make a plan about how much more they will need to save
and for how much longer in order to be able to attend college.
3. Students will share this information through the use of
Powerpoint software with the teacher and the rest of the class.
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Contents:
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2) Throughout mathematics in Grades 6-8, students build a foundation of basic understandings in number, operation, and quantitative reasoning; patterns, relationships, and algebraic thinking; geometry and spatial reasoning; measurement; and probability and statistics. Students use concepts, algorithms, and properties of rational numbers to explore mathematical relationships and to describe increasingly complex situations.
(3) Problem solving in meaningful contexts, language and communication, connections within and outside mathematics, and formal and informal reasoning underlie all content areas in mathematics. Throughout mathematics in Grades 6-8, students use these processes together with graphing technology and other mathematical tools such as manipulative materials to develop conceptual understanding and solve problems as they do mathematics.
(7.13) Underlying processes and mathematical tools. The student applies Grade 7 mathematics to solve problems connected to everyday experiences, investigations in other disciplines, and activities in and outside of school.
The student is expected to:
(A) identify and apply mathematics to everyday experiences, to activities in and outside of school, with other disciplines, and with other mathematical topics;
(B) use a problem-solving model that incorporates understanding the problem, making a plan, carrying out the plan, and evaluating the solution for reasonableness;
(C) select or develop an appropriate problem-solving strategy from a variety of different types, including drawing a picture, looking for a pattern, systematic guessing and checking, acting it out, making a table, working a simpler problem, or working backwards to solve a problem; and
(D) select tools such as real objects, manipulatives, paper/pencil, and technology or techniques such as mental math, estimation, and number sense to solve problems.
(7.14) Underlying processes and mathematical tools. The student communicates about Grade 7 mathematics through informal and mathematical language, representations, and models.
The student is expected to:
(A) communicate mathematical ideas using language, efficient tools, appropriate units, and graphical, numerical, physical, or algebraic mathematical models; and
(B) evaluate the effectiveness of different representations to communicate ideas.
(7.15) Underlying processes and mathematical tools. The student uses logical reasoning to make conjectures and verify conclusions.
The student is expected to:
(A) make conjectures from patterns or sets of examples and nonexamples; and
(B) validate his/her conclusions using mathematical properties and relationships.
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Tools:
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1 .Internet sites
2. Newspaper / Bank Newsletter
3. Graphing Calculator
4. Power Point software
5 .Laptop
6. LCD projector
7. Video Camera
8. Computer Lab
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Assessments:
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Students will create a presentation on their experiences in saving money for college and on banking simulation. Students will be evaluated using a rubric and teacher feedback will be provided after each presentation. Team members’ feedback will also be included in each evaluation of each project.
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Environment:
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Classroom: Desks will be arranged in groups of three or four depending of the class size. Each group will have the opportunity to use a computer, a camera, and video camera to create their presentations.
Students will use a laptop and an LCD projector to make their presentations to the whole class.
Computer Lab: Will be used as needed by students before, during, and after school.
Home: Homework reading brochures, pamphlets, bank newsletters, and researching internet sites will be done by students every day.
Values: The environment of the classroom will be structured for effective classroom participation and interaction between students. The students will be able to voice their opinions and peer students will validate these opinions and share their own interpretations or suggestions.
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