Money Matters: Our Everyday Spending Adventure

2nd Grade

Project
4 weeks

Money Matters: Our Everyday Spending Adventure

Kinsley Godwin

Purpose

The purpose of this project is to provide second-grade students with a foundational understanding of everyday economics through engaging, hands-on activities. By exploring concepts such as spending, saving, budgeting, and differentiating between needs and wants, students will gain practical financial literacy skills. The project aims to foster critical thinking and decision-making abilities as students participate in interactive experiences like the 'Mini Market Day' and 'Economics Fair.' Through interactions with community partners, students will connect classroom learning to real-world applications, enhancing their comprehension of how money influences both personal and community life. This project encourages reflection, creativity, and collaboration, equipping students with essential skills for managing money responsibly in their everyday lives.

Learning goals

In this Everyday Economics project, students will explore how money is used in daily life through engaging activities and real-world applications. They will learn essential economic vocabulary, such as 'goods,' 'services,' 'spending,' 'saving,' 'budget,' and 'profit,' to effectively communicate key concepts. Students will differentiate between needs and wants, using examples from their lives to make informed spending decisions. They will practice simple addition and subtraction to calculate costs and change, reinforcing math skills in practical contexts. By creating simple budgets for activities like 'Mini Market Day,' students will understand the importance of planning spending and saving. Additionally, they will gain insights into the role of banks and credit unions, focusing on the basics of saving money and the benefits of having a savings account. Through interactions with community business owners and credit union representatives, students will connect classroom learning to real-world economic practices, enhancing their financial literacy and understanding of everyday economics.

Standards

Common Core - CCSS.MATH.CONTENT.2.MD.C.8: Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using $ and ¢ symbols appropriately.
Common Core - CCSS.ELA-LITERACY.SL.2.4: Tell a story or recount an experience with appropriate facts and relevant, descriptive details, speaking audibly in coherent sentences.
Common Core - CCSS.ELA-LITERACY.W.2.2: Write informative/explanatory texts in which they introduce a topic, use facts and definitions to develop points, and provide a concluding statement or section.

Products

In this Everyday Economics project, students will create several products to demonstrate their understanding of financial concepts. They will develop a 'Community Economics Poster' illustrating how local businesses operate, incorporating insights from interactions with community business owners. This poster will be displayed during the 'Economics Fair'. Students will also assemble a 'Money Management Storybook', writing and illustrating a short story about a character learning to save and spend wisely. These storybooks will be presented at the 'Community Economics Day', sharing financial literacy lessons with attendees. Additionally, students will craft a 'Needs vs. Wants Collage' using magazine cutouts to visually represent needs and wants. They will explain their choices and the importance of distinguishing between them at their 'Economics Fair' booth. Through these products, students will apply and communicate their understanding of everyday economics, including concepts such as saving, spending, budgeting, and distinguishing between needs and wants.

Launch

To effectively launch the Everyday Economics project, begin with an engaging 'Mini Market Day' activity. Transform the classroom into a bustling marketplace where students can role-play as buyers and sellers. Provide each student with a set amount of play money and a selection of items such as snacks or small toys to buy and sell. This hands-on experience will introduce students to the concepts of spending, saving, and budgeting in a fun and interactive way. Encourage students to think about their purchasing decisions and discuss the importance of distinguishing between needs and wants. This activity will spark curiosity and set the stage for deeper exploration of economic principles throughout the project.

Exhibition

To effectively exhibit the students' learning and celebrate their achievements, host a "Community Economics Day" at the conclusion of the project. This event will serve as a platform for students to showcase their understanding of everyday economics concepts through interactive booths. Each student will present their projects on saving, spending, and budgeting, using visual aids and simple presentations. Invite families, local community members, and the community partners, such as local business owners and credit union representatives, to attend. This will not only provide students with an authentic audience but also allow them to receive valuable feedback and insights from real-world experts. The event can feature various student-created products, such as the 'Community Economics Poster,' 'Money Management Storybook,' and 'Needs vs. Wants Collage,' allowing attendees to engage with the students' work and learn about their journey in financial literacy.

Week 1	Day 1	Day 2	Day 3	Day 4	Day 5
Activities	Activity 1: Introduction to Everyday Economics - Discuss the purpose and goals of the project, introduce key vocabulary terms such as 'goods,' 'services,' 'spending,' 'saving,' 'budget,' and 'profit.'	Activity 2: Mini Market Day Preparation - Explain the concept of the 'Mini Market Day' and have students brainstorm items they could buy or sell. Discuss the difference between needs and wants.	Activity 3: Role-Playing Exercise - Students will role-play as buyers and sellers using play money. They'll practice making purchasing decisions and discuss the importance of budgeting.	Activity 4: Needs vs. Wants Discussion - Use examples from students' lives to help them identify needs vs. wants and make informed spending decisions.	Activity 5: Reflective Journaling - Students will write a reflection on what they learned about spending, saving, and budgeting during the Mini Market Day activity.
Deliverables	1. Deliverable 1: Students will create a list of items they plan to buy or sell during the Mini Market Day, categorizing them into needs and wants. 2. Deliverable 2: A reflection journal entry on their role-playing experience, discussing what they learned about spending, saving, and budgeting.
Preparation	1. Teacher Preparation Task 1: Gather play money and props for the Mini Market Day activity, such as snacks or small toys for students to buy and sell. 2. Teacher Preparation Task 2: Prepare a vocabulary list and definitions of key economic terms to introduce to the students. 3. Teacher Preparation Task 3: Plan and set up the classroom to resemble a marketplace for the Mini Market Day activity. 4. Teacher Preparation Task 4: Create a template for the reflective journaling activity to guide students in their reflections.

Week 2	Day 1	Day 2	Day 3	Day 4	Day 5
Activities	Activity 1: Introduction to Budgeting - Teach students how to create a simple budget by allocating their play money for different items. Discuss why budgeting is important and how it helps in managing money effectively.	Activity 2: Budgeting Workshop - Students will practice creating budgets for hypothetical scenarios, such as planning a small event or a day out, incorporating concepts like saving and spending.	Activity 3: Visit from a Community Business Owner - Invite a local business owner to speak to the class about how they manage finances in their business, including budgeting, saving, and spending strategies.	Activity 4: Group Project - Community Economics Poster - Divide students into small groups to start working on their 'Community Economics Poster'. They will research a local business and illustrate how it operates financially, incorporating insights from the guest speaker.	Activity 5: Reflective Discussion - Facilitate a class discussion where students share their thoughts on the budgeting activities and the guest speaker's insights. Encourage them to reflect on how these lessons apply to their everyday lives.
Deliverables	1. Deliverable 1: A completed budget worksheet for a hypothetical scenario. 2. Deliverable 2: A draft version of the 'Community Economics Poster', including initial research and illustrations.
Preparation	1. Teacher Preparation Task 1: Prepare budgeting worksheets and sample hypothetical scenarios for the budgeting workshop. 2. Teacher Preparation Task 2: Coordinate with a local business owner to arrange a visit and prepare questions for the guest speaker session. 3. Teacher Preparation Task 3: Gather materials for the 'Community Economics Poster' project, such as poster boards, markers, and research materials. 4. Teacher Preparation Task 4: Develop a guide for students to structure their group projects and assign roles within the group for effective collaboration.

Week 3	Day 1	Day 2	Day 3	Day 4	Day 5
Activities	Activity 1: Money Management Storybook Introduction - Introduce the concept of the Money Management Storybook. Discuss storytelling elements and how to incorporate financial literacy lessons into a narrative.	Activity 2: Story Planning and Drafting - Students will brainstorm and outline their story ideas, focusing on a character who learns about saving and spending wisely. They will begin drafting their stories, incorporating key economic concepts learned so far.	Activity 3: Peer Review and Feedback - Organize a peer review session where students share their story drafts with classmates to receive constructive feedback. Encourage them to focus on clarity, creativity, and the integration of financial concepts.	Activity 4: Needs vs. Wants Collage - Guide students in creating their 'Needs vs. Wants Collage' using magazine cutouts. They will visually represent the difference between needs and wants and prepare to explain their choices.	Activity 5: Reflective Journaling - Have students reflect on their storybook writing process and collage creation. Prompt them to consider how these activities deepened their understanding of financial literacy.
Deliverables	1. Deliverable 1: A draft version of the Money Management Storybook, including a written narrative and initial illustrations. 2. Deliverable 2: A completed 'Needs vs. Wants Collage' with a short written explanation of their choices.
Preparation	1. Teacher Preparation Task 1: Gather storytelling resources, such as story templates, graphic organizers, and examples of storybooks with financial themes. 2. Teacher Preparation Task 2: Collect magazines and craft supplies for the 'Needs vs. Wants Collage' activity. 3. Teacher Preparation Task 3: Create peer review guidelines and feedback forms to facilitate constructive peer interactions during the story sharing session. 4. Teacher Preparation Task 4: Arrange materials for reflective journaling, such as journals or digital devices, and prepare prompts to guide student reflections.

Week 4	Day 1	Day 2	Day 3	Day 4	Day 5
Activities	Activity 1: Finalizing the Money Management Storybook - Students will complete their storybooks by refining their narratives and adding final illustrations. They should ensure that their story effectively communicates financial literacy concepts.	Activity 2: Economics Fair Preparation - Students will prepare their booths for the upcoming 'Economics Fair'. They will organize their projects, such as the 'Community Economics Poster', 'Money Management Storybook', and 'Needs vs. Wants Collage', and practice their presentations.	Activity 3: Presentation Skills Workshop - Conduct a workshop focusing on effective communication and presentation skills. Role-play scenarios where students present their projects to different audiences, including peers, parents, and community members.	Activity 4: Rehearsal for Community Economics Day - Allow students to rehearse their presentations, receive feedback from classmates, and make necessary adjustments to their delivery. Encourage them to focus on clarity, engagement, and confidence.	Activity 5: Reflective Journaling - Students will reflect on their journey throughout the project, highlighting what they learned about economics and how they applied these concepts in their final projects. They will also set personal goals for applying these skills in real life.
Deliverables	1. Deliverable 1: A completed Money Management Storybook with final edits and illustrations. 2. Deliverable 2: A prepared presentation for the 'Economics Fair', including all visual aids and explanation points. 3. Deliverable 3: A reflective journal entry summarizing their learning experience and personal growth throughout the project.
Preparation	1. Teacher Preparation Task 1: Review and provide final feedback on student storybooks to guide their final edits. 2. Teacher Preparation Task 2: Arrange the classroom or venue for the 'Economics Fair', setting up areas for each student's presentation booth. 3. Teacher Preparation Task 3: Develop a presentation skills workshop, including tips and role-play scenarios to enhance student confidence and communication abilities. 4. Teacher Preparation Task 4: Organize a rehearsal schedule for students to practice their presentations and prepare feedback forms for peer and teacher evaluations. 5. Teacher Preparation Task 5: Prepare reflective journaling prompts to help students articulate their learning experiences and future applications of financial literacy.