Cha-Ching Classroom Activity Spend Your Money Wisely, My Friend

Cha Ching Family Activity #1 Cha-ChingIt’s Got Classroom to be Earned Activity Spend Your Money Wisely, My Friend

Overview: Kids know their parents go to work and sometimes even visit them there. But for Overview: In this activity, students play a game to experience the challenges and rewards of younger children, work takes their parents away from them each day and they don't understand why. balancing needs and wants. After viewing the video Spend Your Money Wisely My Friend, students work Even older children, who typically understand that people go to work to earn money, may lack together to define needs and wants and provide examples. Students play a game in which they make decisionsunderstanding about about how theywhy wantearning to spendmoney a is given important. amount At of school, money, your but child they ishave learning to stay that on everythingtheir toes because—justcosts money and as inthat real is life—circumstanceswhy people work. In change! this activity, Finally, families students work summarize together theirto make earn, visible spend, the save, andinvisible donate process plans of to earning see how to far pay they’ve bills and come to purchase in learning things about we money. need and want to help children understand that money must be earned.

TargetActivity Audience: Duration: Grades Varies 3–6

ActivityOutcome Duration: 45 minutes • Students will learn about their parent’s profession and other professions in their community Essential Questions Materials ●● What is the difference between a want and a need? • Computer or tablet with internet access ●● How can I balance my spending and saving? Procedure ●● What is it like to make hard decisions about money? 1. During a trip to the grocery store, shopping mall, department store, or other type of store, look at Objectivesprice tags with your child. Ask them how much each thing costs. Ask which items cost money. Help your child conclude that everything costs money. Explain that we work to earn money to help pay Students will: for things we need and want. Ask your child to tell you what they have learned in school about why ●adults● Differentiate work. Note betweenany misconceptions needs and andwants be sure to address them as you discuss the video.

●● Apply budgeting strategies to pay for needs and wants 2. WATCH the video It’s Got to Be Earned with your child. Activity Vocabulary: 3. DISCUSS what happened with Zul and how he solved his problem. ●● Budget

4. ●TOGETHER,● Savings talk about your work. Tell your child your “work story”. Allow your child to ask you ●questions,● Needs such as the following: • What do you do when you go to work? What does an average day look like? ●• ● WantsWhy do you spend so many hours there? ●• ● PrioritiesWhat training did you have to do to prepare for your current job? • How long have you been at your current job? ●● Comparison Shopping • How do you get paid (e.g., paper paycheck, electronic bank deposit, etc.)? ●• ● InstantWhat wasGratification your motivation for choosing your job? Did you think about how much money you ●● Advertiserswould earn? and OR didMarketers you choose their job because of your skills, talents and/or interests? Or both? Materials• How do you decide how to spend the money you earn? ●● Video: Spend Your Money Wisely My Friend ●● Handout: Spend Your Money Wisely My Friend lyrics (1 per group)

Cha Ching Family Activity #1 ●● Budget Game: Living on a 20 Square Salary (from West Virginia Department of the Treasury, Financial Education Programs)It’s Got to be Earned

○ Other versions: Overview:○ Kids know their parents go to work and sometimes even visit them there. But for younger children, workyy The takes Bean their Game parents away from them each day and they don't understand why. Even older children, y ywhoThe typically Bean Game: understand Living on that a “20 people Bean go Salary” to work to earn money, may lack understanding about why earning money is important. At school, your child is learning that everything costs● ●moneyGame andplay thatmaterials is why (may people include work. game In this cards, activity, beans, families tokens) work together to make visible the invisible●● Handout: process Myof earning Money toPlan pay (1 b perills andstudent) to purchase things we need and want to help children understand that money must be earned. ●● Ads from local grocery and department stores as well as ads from various superstores like Walmart, Target, etc. (either in print form or online) Activity Duration: Varies ●● Chart paper Outcome ●● Self-stick notes • Students will learn about their parent’s profession and other professions in their community Other Spend Episodes Materials ● Earn, Save, Spend & Donate ●• Computer or tablet with internet access ●● Please Little Spender Think Procedure ●● When You Get Money 1. During a trip to the grocery store, shopping mall, department store, or other type of store, look at ●price● Big, tags Big withWaste your of Moneychild. Ask them how much each thing costs. Ask which items cost money. Help your child conclude that everything costs money. Explain that we work to earn money to help pay ●● So Yesterday for things we need and want. Ask your child to tell you what they have learned in school about why ●adults● Cha-Cha-Choices work. Note any misconceptions and be sure to address them as you discuss the video.

2. WATCH the video It’s Got to Be Earned with your child. Procedure 3. DISCUSS1. (Note what for thehappened Teacher: with This Zul is theand one how choice he solved kids hisknow problem. the most about! Unlike earning and saving, spending is visible and usually has immediate, tangible results. Your students may have a 4. TOGETHER,lot of “expertise” talk about yourto add!) work. Engage Tell your students child yourby asking “work the story”. following Allow questions: your child to ask you questions, such as the following: ● Are you a spender or a saver? • What● do you do when you go to work? What does an average day look like? • Why●● Whendo you you spend choose so many to ‘spend’ hours what there? do you like to spend money on? (Is that good or bad? Why?) • What training did you have to do to prepare for your current job? ●● When you’re spending, What is the difference between a need and a want? Can you give • How somelong have examples? you been at your current job? • How do you get paid (e.g., paper paycheck, electronic bank deposit, etc.)? ● Can we buy anything and everything—needs and wants? Why can’t we just buy the things • What● was your motivation for choosing your job? Did you think about how much money you we need and the things we want? would earn? OR did you choose their job because of your skills, talents and/or interests? Or both?●● The name of today’s activity is Spend Your Money Wisely, My Friend. What do you think it • How meansdo you todecide spend how your to money spend thewisely? money you earn? 2. Say, “We’ve learned a lot about earning, saving, and donating. We have even made plans—or budgets—for each. Spending is one of the choices you have with your money. And it’s not good or bad to spend. It’s part of life (a big part of it). But there is a difference between spending and

Cha Ching Family Activity #1 thinking about your spending. That’s what the video we’re going to watch is about—thinking about spending. It’s Got to be Earned

3. Show the video Spend Your Money Wisely My Friend. (Optional: Share the Overview: Kids know their parents go to work and sometimes even visit them there.Spend ButYou forMoney lyrics.) younger Wiselychildren, My work Friend takes their parents away from them each day and they don't understand why. Even4. older Discuss children, the videowho typically with the understand class. Did they that like people the video? go to work Why toor earnwhy mnot?oney, Ask may students lack to understandingdescribe about the choiceswhy earning the band money made is important. and identify At school,some of your their child needs is learningand wants. that Ask, everything “What costs moneychoices and did that they is why make? people Which work. characters In this activity, spent wisely? families Which work didtogether not?” to make visible the invisible5. Divideprocess students of earning into to small pay bgroupsills and and to purchaseexplain that things they we are need going and to wantplay ato game. help childrenDistribute understandgame that play money materials must and be earned.go over the directions together. As students play the game, they will work together to make financial decisions. Conversations may get heated as choices are made; Activityremind Duration: students that Varies sometimes it is challenging to make hard choices about money, but they must work together and agree. Remind students there are no right or wrong answers; all of our Outcomechoices depend on our end goals. • Students will learn about their parent’s profession and other professions in their community 6. After playing the game, regroup students to debrief. Ask them to share their thoughts and ideas Materialsabout the experience. Ask questions to extend their thinking, such as the following: • Computer●● Was it or difficult tablet with to internetmake choices access between wants and needs as you balanced your budget? Procedure●● What was most challenging? What was most rewarding? 1. During● a● tripWhat to kinds the grocery of conversations store, shopping did you mall, have department during the store, game? or other type of store, look at price tags with your child. Ask them how much each thing costs. Ask which items cost money. Help ●● What kinds of strategies did you apply for moving your money around? your child conclude that everything costs money. Explain that we work to earn money to help pay for things●● What we need would and you want. do differentlyAsk your child next to time?tell you what they have learned in school about why adults ●work.● What Note questions any misconceptions do you have andabout be suremaking to decisionsaddress them like this as youin real discuss life? the video.

2. WATCH● ●theWhat video advice It’s Gotdo you to Be have? Earned with your child. 7. Distribute a copy of My Money Plan to each student. Have each student write a brief summary 3. DISCUSSof their what plans happened for earning, with Zulspending, and how saving, he solved and donating. his problem. They’ve come a long way!

8. Have students share their plan with the class as time allows. Ask students to describe the most 4. TOGETHER, talk about your work. Tell your child your “work story”. Allow your child to ask you important thing(s) they learned from the Cha-Ching videos and activities. questions, such as the following: •9. WhatEncourage do you students do when to youcomplete go to work?Family What Activity does #4: an Spending average dayWisely look with like? their families. • Why do you spend so many hours there? • What training did you have to do to prepare for your current job? Optional Resources • How long have you been at your current job? ● Teaching your child to spend wisely ●• How do you get paid (e.g., paper paycheck, electronic bank deposit, etc.)? ●• ● 5 WhatWays wasto Cut your Spending...and motivation for Still choosing Get to yourDo and job? Buy Did Cool you Things think about how much money you would earn? OR did you choose their job because of your skills, talents and/or interests? Or ●● Teaching Your Children to Handle Money—Family Life both? • How do you decide how to spend the money you earn?

National StandardsCha Ching Family Activity #1 It’s Got to be Earned National Standards for Financial Literacy

Overview:2: BuyingKids Goods know andtheir Services parents go to work and sometimes even visit them there. But for younger Peoplechildren, cannot work buytakes or their make parents all the goodsaway from and servicesthem each they day want; and asthey a result, don't understandpeople choose why. Even olderto buychildren, some who goods typically and services understand and not that buy people others. go Peopleto work can to improveearn money, their may economic lack well- understandingbeing byabout making why informed earning money spending is important. decisions, whichAt school, entails your collecting child is learning information, that everything planning, costs moneyand budgeting.and that is why people work. In this activity, families work together to make visible the invisible 2.4.7:process Planning of earning for spendingto pay bills can and help to purchasepeople make things informed we need choices. and want A budget to help is childrena plan for understandspending, that money saving, must and be managing earned. income. C3 Framework for Social Studies State Standards Activity Duration: Varies Economics: Economic Decision Making OutcomeD2.Eco.1.3-5. Compare the benefits and costs of individual choices.

• StudentsD2.Eco.2.K-2. will learn Identify about the their benefits parent’s and profession costs of andmaking other various professions personal in decisions.their community MaterialsD2.Eco.2.3-5. Identify positive and negative incentives that influence the decisions people make. • Computer or tablet with internet access Procedure 1. During a trip to the grocery store, shopping mall, department store, or other type of store, look at price tags with your child. Ask them how much each thing costs. Ask which items cost money. Help your child conclude that everything costs money. Explain that we work to earn money to help pay for things we need and want. Ask your child to tell you what they have learned in school about why adults work. Note any misconceptions and be sure to address them as you discuss the video.

2. WATCH the video It’s Got to Be Earned with your child.

3. DISCUSS what happened with Zul and how he solved his problem.

4. TOGETHER, talk about your work. Tell your child your “work story”. Allow your child to ask you questions, such as the following: • What do you do when you go to work? What does an average day look like? • Why do you spend so many hours there? • What training did you have to do to prepare for your current job? • How long have you been at your current job? • How do you get paid (e.g., paper paycheck, electronic bank deposit, etc.)? • What was your motivation for choosing your job? Did you think about how much money you would earn? OR did you choose their job because of your skills, talents and/or interests? Or both? • How do you decide how to spend the money you earn?

SpendCha Ching Your Money Family Wisely Activity My Friend #1 It’s Got to be Earned Lyrics

Overview: Kids know their parentsWe need go to workmake and our sometimesminds up today. even visit them there. But for younger children,When wework play takes they their are parentsturning awayaway (Thisfrom brokenthem each speaker’s day and breaking they don't up the understand feed). why. Even older children, who typicallyLook understand they’re leaving that people at lightning go to work speed! to earn money, may lack understanding about why earning money is important. At school, your child is learning that everything costs money andWe that have is whyour wants people and work. then In we this have activity, our needsfamilies [You work know together we need to makethis!]. visible the invisible process of earning to Let'spay b goills andand getto purchasethe best dealthings in wetown, need yeah! and want to help children understand that money must be earned. Spend (spend) your money wisely my friend. Activity Duration: VariesGet the best price from what you have to spend. Spend your money wisely show know-how. Outcome You don't have to spend it all (Spend your money wisely show know-how)! • Students will learn about their parent’s profession and other professions in their community I compared all the stores and was really surprised. Materials Turns out there's different price tags for the same merchandise! • Computer or tablet with internetIf I shop access around and take my time, I can get more value for this money of mine. Procedure I'm trying not to get distracted (Get distracted) 1. During a trip to the groceryBut store, I see shopping cool things mall, and department I'm attracted store, [Hello] or other type of store, look at price tags with your child. Ask them how much each thing costs. Ask which items cost money. Help Spend (spend) your money wisely my friend. your child conclude that everything costs money. Explain that we work to earn money to help pay It will go really quick if you over-extend. for things we need and want. Ask your child to tell you what they have learned in school about why Spend your money wisely show know-how. adults work. Note any misconceptions and be sure to address them as you discuss the video. You don't have to spend it all.

Spend your money wisely show know-how! 2. WATCH the video It’s Got to Be Earned with your child. Something's come up, I'm ready to spend. 3. DISCUSS what happened withIs it Zula need and orhow a want?he solved Let mehis problem.comprehend, Do I need it or do I have something similar? 4. TOGETHER, talk about yourCha-Ching work. Tell needs your a childspeaker your if “workwe want story”. to go Allow far. your child to ask you questions, such as the following:Just wait, and think through the alternatives • What do you do when youThe go savings to work? other What options does anmay average give, yeah! day look like? • Why do you spend so many hours there? • What training did you Spendhave to (spend) do to prepare your money for your wisely current my friend. job? • How long have you beenWork at out your what current you wantjob? is what I recommend. • How do you get paid (e.g.,Spend paper your paycheck, money wisely electronic show bank know-how. deposit, etc.)? • What was your motivationYou don't forhave choosing to spend your it all job? [It don't Did you have think to be about now] how much money you would earn? OR did youSpend choose your their money job because wisely show of your know-how! skills, talents and/or interests? Or both? We've got a clear and strong aim for something we need. • How do you decide We'rehow to a spendlittle shortthe money on cash, you but earn? Justin's got a lead. We made the effort and have ourselves to thank For the effort we have some extra cash in the bank.

ChaWe got Ching our speaker Family and some Activity money to spare #1 It’sMakes Got us feel to like be millionaires! Earned

Overview: Kids know theirSpend parents (spend) go to yourwork money and sometimes wisely my even friend. visit them there. But for younger children, work takesYou their can parents reach the away stars from when them you each don't day misspend. and they don't understand why. Even older children, who typicallySpend understand your money that wisely people show go to know-how. work to earn money, may lack understanding about why earning moneyYou don'tis important. have to Atspend school, it all. your child is learning that everything costs money and that is why peopleSpend work. your Inmoney this activity, wisely show families know-how! work together to make visible the invisible process of earning to pay bills and to purchase things we need and want to help children understand that money must be earned.

Activity Duration: Varies

Outcome • Students will learn about their parent’s profession and other professions in their community Materials • Computer or tablet with internet access Procedure 1. During a trip to the grocery store, shopping mall, department store, or other type of store, look at price tags with your child. Ask them how much each thing costs. Ask which items cost money. Help your child conclude that everything costs money. Explain that we work to earn money to help pay for things we need and want. Ask your child to tell you what they have learned in school about why adults work. Note any misconceptions and be sure to address them as you discuss the video.

2. WATCH the video It’s Got to Be Earned with your child.

3. DISCUSS what happened with Zul and how he solved his problem.

Cha Ching Family Activity #1 It’s GotMy Money to be Plan Earned Earn Save Overview: Kids know their parents go to work and sometimes even visit them there. But for younger children, work takes their parents away from them each day and they don't understand why. Even older children, who typically understand that people go to work to earn money, may lack understanding about why earning money is important. At school, your child is learning that everything costs money and that is why people work. In this activity, families work together to make visible the invisible process of earning to pay bills and to purchase things we need and want to help children understand that money must be earned.

Activity Duration: Varies

Outcome • Students will learn about their parent’s profession and other professions in their community Materials • Computer or tablet with internet access Procedure 1. During a trip to the grocery store, shopping mall, department store, or other type of store, look at price tags with your child. Ask them how much each thing costs. Ask which items cost money. Help your child conclude that everything costs money. Explain that we work to earn money to help pay for things we need and want. Ask your child to tell you what they have learned in school about why adults work. Note anySpend misconceptions and be sure to address them as youDonate discuss the video.

2. WATCH the video It’s Got to Be Earned with your child.

3. DISCUSS what happened with Zul and how he solved his problem.