Monday, November 26, 2018

SPENT: A NEXTGEN Personal Finance Simulation Project (Middle School) CCS 18-19 S1

If you do not finish all assigned tasks before the end of the class, you must complete them on your own time.  If you are finished early you may work on any previous assignment you owe, khan academy, typing.com (lessons only), or work for another class.

The Inquiry below is intended to help introduce students to the decisions people have to make everyday when they are living paycheck to paycheck. The Supplemental Resources are provided only to support the Inquiry, but the Inquiry is a comprehensive lesson on its own.

In this Inquiry, students will use a simulator to roleplay an adult trying to make ends meet when they don’t have a surplus of finances. In the process, students will learn about how their decisions impact the people around them and their ability to pay for the necessities each month as well as the pressures and decisions that many people face in this situation. Through this Inquiry, they will learn to use wise spending and saving habits, empathize with those dealing with the living wage, and assess the options people have when they are having financial difficulties.

Make Sure You Click On The ROLEPLAY Inquiry Simulation Link Below, Click FILE and MAKE A COPY, and SHARE it with Mr. Scribner (hscribner@ccs.us) for credit!

Learning Objectives:
  • Students will experience the circumstances of budgeting on the living wage.
  • Students will reflect on the impact of the decisions they made in order to learn from them for the future.
  • Students will explore the difficulties of living paycheck to paycheck and learn from the options they face as well as mistakes they make.
  • Students SHOULD Play the Game a SECOND Time after recording their answers to more fully understand some of the alternate choices in the simulation.

ACTIVITY:
Complete The Google Document Worksheet As You Complete The Online Simulation. Please Answer All Questions In COMPLETE SENTENCES! Try to use the R.A.C.E Response Method (Repeat the question, Answer the question, Cite your evidence/examples, Explain your evidence/examples) Make sure you SHARE the Google Document with Mr. Scribner (hscribner@ccs.us) for credit.

Standards:

Alignment to Anchor Standards for Reading:
CCSS.ELA-LITERACY.CCRA.R.1
Read closely to determine what the text says explicitly and to make logical inferences from it.
CCSS.ELA-LITERACY.CCRA.R.7
Integrate and evaluate content presented in diverse media and formats, including visually and quantitatively, as well as in words..

Alignment to Jump$tart Spending and Saving Standards:
1b: Analyze how spending and saving behavior can affect overall well-being.
1c: Discuss the components of a personal spending plan, including income, planned saving, and expenses.  
Alignment to Jump$tart Risk Management and Insurance Standards:
1b: Predict the consequences of accepting risk with insufficient or no insurance.
1c: Illustrate how to use insurance to share the risk of financial loss.
Supplemental Resources:
*Note: These supplemental resources are a work in progress and will be finalized soon!

Video: Just In Case
This video from Cha-Ching is a fun way for students to explore why they should think about having an emergency fund or getting insurance in case issues they can’t plan for arise!
Suggested Follow Up Questions: 1) What are some examples of reasons you might need an emergency fund or insurance from the video? 2) Why do you think people say “plan for the worst” based on what you learned from the video?

Interactive: PlayInsure
This game allows students to learn about Auto Insurance and Homeowner's Insurance by letting them roleplay as an insured party  that encounters many different scenarios. This allows students to see the different plan options, why insurance costs a certain amount, and when it is useful. Since the game is created by the Texas Department of Insurance, it focuses on that state, but it is a great learning tool for students regardless of location.
  • Teacher Tip: Both the Auto Insurance and Homeowner’s Insurance games are very long (30 days) so they are quite repetitive. You might want to tell the students to play for something like 10-15 days!

Video: Payday Loan Advertisement
This Payday loan advertisement tries to sell people payday loans. In the process, it outlines why payday loans exist and why someone living paycheck to paycheck might feel the need to use one. Students might not understand what the big issue with payday loans is given the tone of the video, so discussion afterwards will help them understand.
Suggested Follow Up Questions: 1) How are payday loans different from borrowing money for something like college or a house? 2) Why might someone be searching for a loan like this? 3) What are the 2 qualifications needed to get a payday loan? Why do you think the companies don’t require more info from the borrower? 4) What do you think are the downsides of taking out a payday loan?

Comprehension Questions: Spent Kahoot
This kahoot is a fun way to assess students on their understanding of the terms and concepts they learned in this lesson.
This project taken directly from https://www.ngpf.org/courses/middle-school/
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Integrity (13 Characteristics)

13 Characteristics of People Who Have Integrity

1. They Value Other People's Time: They value their own time so they also value the time of other people. They know you have plenty of other places you need to be and won’t hold you up. If you spend time with them, it is likely they will thank you for that as well.

2. They Give Credit Where It Is Due: They do not take credit for things they did not do. They will always credit those who deserve it. If you help this person with a project he or she will likely mention your name so you can take credit for your work.

3. They Are Authentic: They are their truest forms. You won’t catch them in a lie or being fake.

4. They Are Always Honest: They are honest people that feel no need to lie as it is important for them to get to where they need to get in life honestly.

5. They Never Take Advantage Of Others: They are not the kind of people who will take advantage of someone else. They love to build people up and help them get where they need to be. Taking too much from someone else will never be an issue with someone who has a lot of integrity.

6. The Do Not Argue Over Disagreements: They will talk through things in a civil manner or not talk at all. You cannot and will not force this person into arguing over something completely ridiculous. I find this to be a very respectable trait.

7. They Give Most People The Benefit Of The Doubt: They try to see the good in everyone. I think this is because they feel like maybe there are more people in this world that also have integrity. That being said, if you take advantage of them too much they will get rid of you.

8. They Know When Something Is Bothering Someone: They have a great intuition that lets them know when something is going on. If someone is down in the dumps they will notice. Chances are they will actually do what they can to cheer you up.

9. They Believe In Others: They accept your word as truth until it is dis-proven. That being said, they do not take lying well. And once you lie to them, it is unlikely that they will ever take your word again.

10. They Apologize First: If they have done something wrong they will come to you and apologize. This is just how they are. They own up to their mistake and try to make things right.

11. They Are Humble: They do not quite know their own worth. While they are very important and do so much good they don’t quite see it. You should remind them of it.

12. They Do Good When They Can: They are always helping other people. They love to know that they have improved someone’s life. It gives their lives meaning.

13. They Are Always Kind To Those Who Need It: Giving kindness can go a long way. When someone looks like they need a little pick me up these people deliver. They can brighten up almost anyone’s day.

If you are someone who has true integrity, thank you for being who you are and thank you for all that you do. You really do actually make a difference in society, please keep up the good work. If you feel no one else is proud of you, know that I am.

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