Needs and Wants

Foundation to Year 2: Ava makes a difference

Teacher notes

Needs and wants Pay the price Goods and services Money match

Overview MoneySmart Teaching is an initiative of the Australian Securities and Investments Commission (ASIC) to build the consumer and financial literacy knowledge, skills, values and behaviours of young Australians. These digital activities for lower primary aged students support the development of consumer and financial literacy skills such as The activities have been designed to be used in any understanding the difference between goods of three ways: and services, distinguishing between needs and as part of the MoneySmart Teaching Primary and wants, recognizing and using Australian money, Secondary professional learning packages’ units and comparing and contrasting consumer of work products and price. Teaching students about money from an early age is critical to setting up as stand - alone activities for use in the good foundations for the future. classroom, or as a tool for engaging parents/carers in their child’s learning at home. Getting started Each activity features colourful graphics and audio and provides students with the opportunity to develop These four digital activities are designed for consumer and financial literacy skills in a fun way Foundation to Year 2 primary students. Each activity using the familiar game of matching memory cards to has different levels to cater for the range of learn about Australian notes and coins and through knowledge and understandings of this age group. ‘real life’ situations getting ready for school and Activity duration is approximately 15 minutes buying items in a supermarket. although this may vary depending on the teaching and learning approach used. Activities can be used Besides these Teacher Notes the front page of each on an interactive smartboard, computer or iPad. activity provides links to: Parent notes Curriculum mapping End user specifications Contact details Copyright information

www.teaching.moneysmart.gov.au 1 Teacher notes

Links to MoneySmart Teaching Level 3: Earning money for services. ‘Ava’ wants to resources earn $10 pocket money. Students choose three services to help her buy a book. There are two resources linked to this set of four activities. Needs and wants

MoneySmart Teaching packages: Enduring understandings/deep learnings There is a difference between what we need and Years F -2 Integrated unit of work – Pancakes can what we want. make a difference. People can have different needs and wants which Years F – 2 Interactive book – Ava makes a can change over time. difference. Student learnings Go to the MoneySmart Teaching Resource centre. Identify and describe the difference between Other resources: needs and wants. Visit MoneySmart Teaching where you will find Describe how advertising can influence consumer additional resources including videos, games and choices. more teaching resources. Level 1. Identifying needs and wants. Students help the character ‘Flynn’ to get ready for school by Activity topics helping to select what he ‘needs’ rather than the things he ‘wants’. Key learning areas: Mathematics, English Level 2. Comparing items. Students help the Goods and services character ‘Flynn’ buy a new top at a good price. Enduring understandings/deep learnings Money match Money is something that we use in exchange for Enduring understandings/deep learnings goods and services. Australian money includes notes and coins. Money is finite – we only have a certain income to spend. Recognise that different combinations of notes and coins have equivalent values. Services and work can be paid or unpaid. Student learnings Student learnings Recognise and match 5 cent, 10 cent and 20 cent Explain how money is exchanged for goods and coins. (Level 1 of resource). services. Recognise and match all Australian coins, Use money to buy basic goods and services in including $1 and $2 coins. (Level 2 of resource). real-life contexts. Recognise and match all Australian coins and $5, Understand that work can be paid or unpaid. $10, $20 $50 and $100 notes. (Level 3 of Level 1: Sorting goods and services. Students select resource). an everyday item such as a soccer ball or service Identify equivalent values in collections of coins activity such as bus driving, and categorise it as a and notes, such as two five-cent coins having the good or service. same value as one 10 cent coin. (Level 4 of Level 2: Identifying services. Students help the resource). character ‘Ava’ to complete a service to earn pocket Level 1: Matching coins. In a memory style game, money. students select two matching images of five, ten, and twenty cent coins.

Level 2: Matching coins. In a memory style game, students select two matching images of five, ten, Preparation and delivery twenty, fifty cents and one and two dollar coins. The digital activities have been designed for flexible Level 3: Matching coins and notes. In a memory style classroom delivery so that teachers and students can game, students select two matching images of ten, use them in a range of ways to suit different teaching twenty, fifty cents and one, two dollar coins as well as and learning needs. Each activity contains multiple notes. levels to suit the wide range of knowledge and Level 4: Matching values. In a memory style game, understandings of Foundation to Year 2 students. students match values such as five x twenty cents Please note that elements of consumer and financial equals a one dollar coin. literacy education may raise sensitive issues for some families. For example, not all students earn Pay the price pocket money. Teachers are encouraged to vet the Enduring understandings/deep learnings activities first to ensure that they are appropriate for their students. Australian money includes notes and coins. Below are suggested approaches that teachers may Money is exchanged for goods and services. use. Compare prices of similar items Goods and services Student learnings This resource is intended primarily for teacher-led Recognise 5 cent, 10 cent and 20 cent coins and group activities, as well as individual use on personal match them to a price tag (Level 1 of resource). devices. The introduction screen presents a brief Recognise all Australian coins and notes and explanation of the key topic (goods and services) and understand their value (Level 1 of resource). three menu options. Compare the costs of similar items (Level 2 of The initial activity (Level 1) is intended to help young resource). students gain a base understanding of the difference between goods and services. The learner sorts a Count small collections of coins and notes to range of images into groups labelled ‘goods’ and make up a particular value, such as that shown on ‘services’. The images reflect activities and items a price tag. (Level 2 of resource). young students are likely to have seen or Level 1: Choosing correct money. The character ‘Ava’ experienced, and the teacher can support needs to buy items from a shopping list. This activity differentiation through explanation and by suggesting requires students to match item value with the correct other items or activities relevant to the student group. money from two single coin options. Understanding of the concept of ‘services’ is further Level 2: Choosing correct money. The character ‘Ava’ developed in Level 2. This activity is aimed at helping needs to buy items from a shopping list. This activity students understand that services are activities that requires students to match item value with the correct are generally undertaken for payment. The idea that money from two multiple coin options. money is earned by effort is developed by a simple Level 3: Comparing price. Students assist the animation that requires the student to help complete character ‘Ava’ to compare like items on a shopping the service so that Ava can earn her pocket money. list and select the cheapest option. Students then The concept of earning money by undertaking select the combination of coins required to pay the services is explored in Level 3. The relationship total shopping bill. between the amount of effort needed and the amount earned is also explored. Students select three services Ava can complete in order to earn enough money to purchase a desired item for a set amount of money.

These activities are intentionally couched in the third The resource is intended primarily as a student- person (Ava’s activities, Ava’s goods) rather than the directed activity, with students working on computers, first person, recognising that not all students will earn or iPads or other tablets. It can also be used on pocket money. Teachers are able to use the activity interactive whiteboards (IWBs). as a springboard for discussion about the different Randomisation of card elements is available at all things students may do as a service in their home, levels, allowing repeated use of the resource for whether for pocket money or not. A minimum amount further student practice. of randomisation of elements is available for all levels, allowing repeated use of the resource to Pay the price reinforce the concepts. This resource gives students practice in identifying Needs and wants the values of coins and notes, and reinforces the concept of exchanging money for goods. The This resource is intended for teacher-led interaction different levels all use a shopping context and the on interactive whiteboards (IWBs). That is, it is same basic functionality. intended as a teaching tool, not an activity for independent use by students. The introduction screen The resource is intended primarily as a student- presents a brief explanation of the key topic (needs directed activity, with students working on computers, and wants) and two menu options. or iPads or other tablets. It can also be used on interactive whiteboards (IWBs). The initial activity (Level 1) is intended to help young students consider the difference between something that is needed (essential) for a school day, versus 21st century skills other things that are not needed (either because they Life for children in the 21st Century is much more are not required for the activities at the user’s school, complex than it was for children of any other age, and or because they are ‘wants’ not needs). A character it is getting more complex. Today’s children need four is presented and the students are asked to consider generic skills to enable them to grow into mature, what he needs for school. The teacher leads students well-functioning adults. These are: in discussing the various items shown and selecting which ones are needed for school in their own real- Ways of thinking: Creativity, critical thinking, life situation. A second stage presents the selected problem-solving, decision-making and learning, and remaindered items for comparison and reflection. Ways of working: Communication and The second task (Level 2) is contextually related in collaboration, that the students are advised that the character Tools for working: Information and needs a new T-shirt, and the task now is to choose communications technology (ICT) and information one for him. The teacher leads students in comparing literacy, three identical T-shirts that display different Skills for living in the world: Citizenship, life and advertising. The teacher is able to show that the T- career and personal and social responsibility. shirts are exactly the same, even though the advertising around each shirt is different. What are 21st century skills Money match These skills are embedded within the four activities which have been designed to support the This resource, which is based on the card game of development of consumer and financial literacy skills ‘Concentration’, gives students practice in identifying in primary school. Australian coins and notes. There are four levels, which all use the same game-play and functionality. Levelling is achieved via the targeted content and the number of cards per game.

Further information For teaching students: Go to teaching.moneysmart.gov.au. In the resource section is a quality resource called Making Cents which has an excellent section dedicated to parents including 11 money topics for parents. Visit teaching.moneysmart.gov.au and view expert videos or read more about ASIC’s MoneySmart Teaching initiative. Contact the MoneySmart Teaching team at [email protected] For personal money management: Go to teaching.moneysmart.gov.au and subscribe to ASIC’s personal learning program for teachers, ‘Financial Health for Teachers’. Visit the MoneySmart website for consumers at ASIC’s MoneySmart Teaching initiative builds www.moneysmart.gov.au. It has calculators, tools the consumer and financial literacy capabilities of and tips to help you make the most of your Australian school students by developing students’ knowledge, skills, values and money. behaviours to enable them to make confident, informed consumer choices and responsible financial decisions that are essential to their future financial wellbeing. To view the MoneySmart Teaching Primary and Secondary packages and all the online and digital resources visit www.teaching.moneysmart.gov.au

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