4.2.4+Lesson+4

= LESSON PLAN = created by: Madison Jackson and Maren Nielsen, Highland Elementary

__Core Objective/Standard__:
Standard 4: Students will describe the economic choices people make to meet their economic needs.

__Student learning objective__:
Objective 2d: Explain why people save money to buy goods and services in the future.

__Materials needed__:

 * Book: A Chair for My Mother
 * Chart paper or chalkboard
 * Coin wrappers for pennies, nickels, dimes, and quarters
 * Play money: nickels, dimes, and quarters (one dollar’s worth of each)

__Teacher (To) directions/actions/instructions__:
Say: Have you ever wanted something that cost so much money your parents said they couldn’t buy it? Allow several students to share their experiences. If students can’t think of anything, give them an example.

Today we’re going to be talking about counting money and waiting to buy something big. I’m going to read a book about a family that waited a long time for a big purchase. It’s called A Chair for My Mother, and it was written and illustrated by Vera B. Williams.

Let’s see what happens to the family in this story:
 * Read the book aloud to the class.


 * Briefly discuss the book with the class.


 * Who is telling the story in this book? The little girl tells the story, but we never learn her name.


 * What was the big thing the family wanted to buy? They wanted to buy a big, soft chair.


 * What happened to their old chairs and their other furniture? They lost it all in a fire.


 * How did they get the money for the chair? Mama put all her change in a jar every night after work, and the little girl and grandma sometimes put money in, too.


 * What did they do when the jar was full?


 * They wrapped all the coins up in paper wrappers, took them to a bank, and exchanged them for ten-dollar bills. Then they went shopping.


 * What is the nice thing about their new chair?


 * Allow students to share their opinions. They may mention that the grandma can sit by the window and visit with the neighbors; mama can sit in it when she’s tired after work; and the little girl can share it with her mama before bedtime.

__Savings__ There is a special word we use for putting money away like the family in the story did. When you put money aside instead of spending it right away, you are saving the money. Why do you think people would want to save money instead of spend it? Encourage creative discussion. Students should speculate that people save money because they don’t have enough to buy what they want right away. They put money aside until they have enough.

Let’s talk about where the family in the story got the money they put in their savings jar.
 * What did the story call the money that Mama put in the jar?


 * Do you know what that word means? It was called her “tips.” Explain that tips are amounts of money people give to waitresses, waiters, and others when they are happy with their work. This money is extra—it isn’t part of the cost of the food.


 * Have you ever seen someone give a tip? How do we give tips?


 * In restaurants, people usually put a tip on the table right before they leave. Then the waiter or waitress puts the money in a pocket to keep.

So now we know that Mama, who worked as a waitress, put all the tips she got from people at the restaurant into the jar. Did the little girl also put money in the jar? If necessary, reread the first page of the book to remind students that the little girl sometimes did chores at the restaurant where her mother worked. She put half the money she earned in the jar.
 * Why do you think the little girl only put in half her money?


 * Did her mother put in all her money?


 * Allow students to speculate, and then explain that Mama only put in her tips—her extra money. The rest of her money was spent on other things.

Both Mama and the little girl kept some of their money—they didn’t save it all. Mama used most of her money to buy groceries and pay for their apartment, their clothes, and other things they needed. The little girl kept some of her money to spend on things she wanted, too.

Savings are extra money. Did Grandma put some of her extra money in the jar? You might want to reread the page that describes this— found on the third page of text.

What are some things you might save extra money for? Allow students to share their opinions and experiences with saving money.

__The Role of Banks__
 * We know that the family members in the story saved their money in a big jar. Where else can you save money?


 * Do you know of another kind of bank besides a piggy bank? I’m talking about a bank that is in a building.


 * How many of you have ever been to a bank building?


 * What did you see there? Allow students to share their experiences, in their own words. They might suggest the drive-through area, teller’s windows, vaults, ATMs, lots of desks, guards or other people, and so on.

Banks are places where people go to do things with money. There are lots of things to do in a bank: you can give the bank your savings to keep it safe for you (instead of keeping it in a jar or piggy bank), you can write checks, and you can borrow money from banks. One more thing people can do at a bank is something we read about in our story. You can go to a bank to trade one kind of money for another kind. If you have a bunch of pennies you can take them to a bank and trade them for quarters or dollars or any other kind of money. But before you can do that, you have to know how to count your money.

__Teachers/Students (With) actions__:
**__Introduce the Skip-Counting with Money activity__**
 * In the story, Mama brought home little paper wrappers for the nickels and the dimes and the quarters. These are the wrappers the story was talking about. Hold up the penny wrapper.
 * This is a penny wrapper. It holds 50 pennies. How much money is that? Fifty pennies equals 50 cents. Hold up the nickel wrapper.
 * This is a nickel wrapper. Do you think it will hold as many nickels as the penny wrapper holds pennies—fifty? Accept any guesses. Then tell students that a nickel wrapper holds two dollars worth of nickels. Let’s see if we can figure out how many nickels fit in this wrapper. Who can tell me what a nickel is worth?
 * How many cents are in a dollar? A nickel is worth five cents. A dollar is equal to 100 cents.
 * Let’s count by fives up to a dollar. Count these nickels with me. Use play-money nickels—count aloud by fives as you lay each nickel down. When you get to 90, 95, 100, stop counting. Ask a student to come up and count the nickels.
 * So now we know there are twenty nickels in one dollar. But our wrapper holds two dollars. How many nickels is that? If students struggle with this, show 20 + 20 = 40 on the chart paper or chalkboard.
 * The penny wrapper holds 50 pennies, and the nickel wrapper holds 40 nickels. Who wants to guess how many dimes the dime wrapper will hold?
 * Place five pennies and five nickels on the table and have volunteers skip count to find the value of each.
 * After allowing students to guess, repeat the skip counting activity with dimes (count by tens) and quarters (count by twenty-fives). Students will learn that the dime wrapper holds 50 dimes (five dollars) and the quarter wrapper holds 40 quarters (ten dollars).

__Students (By) actions/activities students will do during lesson__:
At the end of the lesson, we will start a class piggy bank. The students will earn different amounts of money to earn a class reward. Once the students have earned $1.00 as a class, they will have their reward. They will also wrap the money and trade it for larger coins to demonstrate how it would work at a bank. They will learn that they have to work together and save their money as a class in order to earn their reward.

__Assessment-these may be written, verbal, observations, etc__:
Observe skip counting, wrapped coin activity.

http://pbskids.org/itsmylife/games/mad_money_flash.html