1. Financial mathematics in the Victorian Curriculum Mathematics F-6
Shane O’Connor
Program Manager: Financial Numeracy
David Leigh-Lancaster
Curriculum Manager: Mathematics

2. Agenda Background – Financial capability Videos 1 and 2
Vic F-10 Curriculum – Mathematics Curriculum Mapping Templates
Level 1, 2, 3, 4 ,5 and 6 Activities – MoneySmart Teaching
VCAA Mathematics – external resources
Other resources
Questions

3. Some key terms and ideas
What really is financial numeracy/capability?
The development of young people’s level of financial understanding, skills and confidence allowing them to make effective decisions throughout their lives

4. Why concentrate on financial capability?
The financial capability context for developing mathematical skills is:
Engaging…Relevant…Applied…Meaningful
Financial capability development is easily linked to:
problem-solving
investigation skills

5. Video 1: Teaching mathematics using consumer and financial literacy

6. Video 2: Money makes the world go around

17. Activities
A look at eight financial numeracy/capability activities from the MoneySmart Teaching (MST) suite of activities for Mathematics F-6
All are mapped to the Mathematics content of the Victorian F-10 Curriculum, Levels 1, 2, 3, 4, 5 and 6.
There are 50 MST activities for use by teachers across Levels 1-6
The activities today are selected examples – teachers are encouraged to also work through the other activities.
The links to the relevant content descriptions from the strands will be highlighted.

18. Example activities from MoneySmart Teaching Mathematics Units of Work F-6
Maths Level
Unit of Work
Activity Number
Focus 1
Bertie’s socks
Activity 5
Counting/addition
Mapping template example 2
Keiren’s coin
Activity 3
Problem solving – coins and notes 3
Sal’s secret
Activity 2
Mental calculations 4
How much love can fit into a shoe box
Fractions – part/whole relationships 5
Hey! Let’s have a big day out!
Multiplication - estimation 6
It’s raining cats and dogs…and chickens?
Activity 1, 3,4
Ratios and percentages – discounting

19. MoneySmart - ASIC
MoneySmart Teaching Resources

21. All units have an assessment rubric
Integrated Units from F-6: Mathematics, English and Science (PDF and Word)
Level 1-6 Mathematics Units (PDF and Word)

27. Four levels to suit the different abilities of students

29. Money values are randomly generated so every pattern is different

30. Activity 5: Classroom market 1 – (VCMNA092)
Bertie's socks - Year 1 Mathematics
Activity 5: Classroom market 1 – (VCMNA092)
Set up four stalls in the corners of the classroom.
Provide each stall with a set of market cut-out cards and at least ten plastic or cut-out coins
Stall 1 will have at least ten $1 coins.
Stall 2 will have at least ten 10c coins.
Stall 3 will have at least ten $2 coins.
Stall 4 will have at least ten 5c coins.
Each pair of students must buy at least one item from each stall.
The students must read the price tag and count out the money, before the card is handed over.
Optionally, conduct some or all of this activity using an interactive whiteboard.

32. Curriculum planning template

34. Keiren’s coin- Year 2 Mathematics
Keiren’s coin- Year 2 Mathematics
Activity 3: We don't have a $10 note! (VCMNA111) (VCMNA107)
Demonstrate drawing coins or notes on the board by drawing a circle or rectangle and writing the value.
Have students complete the Three Ways worksheet.
This activity includes a range of coins and notes. Students could use the currency cut-out sheets rather than drawing to complete the worksheet.

35. Draw three ways that we can use coins to make up 60c.
Draw three ways that we can use notes to make up $25.
Draw three ways that we can use $10 notes and/or $1 coins to make up $32.
Curriculum planning template

36. Sal’s secret -Year 3 Mathematics
(VCMNA132)
Activity 2: Maths in our minds -
(VCMNA137)
Students in each group take turns at being the shopper.
The shopper lays out the money required for each item on the receipt.
The shopper then calculates the total of the receipt.
The shopper writes the total on the worksheet.
Ask one group to calculate the total of the first three receipts for the rest of the class.
As groups become proficient, instruct them to continue without using the coins and notes, instead calculating the total mentally. This will become necessary from the tenth receipt, as they will not have enough notes.

37. Mental market stage 1: addition

38. Mental market stage 2:subtraction
Curriculum planning template

39. How much love can fit into a shoe box?
Year 4 Mathematics
Activity 2: Money fraction wall
(VCMNA158)
Warm up by counting backwards by 20 cents from 20 dollars.
Discuss how many of each type of coin is required to make 1 dollar.
Revise basic fractions, emphasising the role of the denominator in describing the number of equal parts required to make the whole.
Nominate 1 dollar as the whole, and then discuss what fraction each coin would be in relation to that unit. For example:
How many 50c coins are needed to make 1 dollar?
Two coins are required, therefore 50 cents is equal to one half (1/2) of a dollar.

40. Worksheet 2: Money fraction wall
1. Play 'Build a money fraction wall' with a partner.
Curriculum planning template

41. Hey! Let’s have a big day out! - Year 5 Mathematics
Activity 2: Multiply your money–at the swimming pool
(VCMNA183)
(VCMNA191)
Students begin by using estimation strategies before attempting accurate calculations.
They should work independently to solve problems involving the multiplication of money (whole dollars and whole cents) by one-digit and two-digit numbers.  
Discuss the benefits of first estimating the answer when dealing with money calculations and talk about which estimation strategies were the most efficient. Assessment questions include:
— Were students able to make reasonable estimations before calculating their answers?
— What strategies did students use to check their answers?

42. Estimate and Calculate Individual item cost Total cost
9 pairs of bathers
25 programs
68 tattoos
115 stickers
14 swimming caps
17 pairs of goggles
3 towels
212 lolly bags
TOTAL
Swimming centre prices
towels $67.00
bathers $47.00
programs $25.00
goggles $23.00
swimming caps $15.00
temporary tattoos $3.00
club stickers 99c
lolly bags 50c
End of highlight box
Curriculum planning template

43. Activity 1: How many scorpions to a python (VCMNA212
It’s raining cats and dogs…and chickens?
Year 6 Mathematics
Activity 1: How many scorpions to a python (VCMNA212
Students work independently on worksheet: How many scorpions to a python? to compare the relationship between various prices.
Share answers and the strategies used to complete the questions. Challenge students to convert the fractions in question 3 to percentages.

45. Activity 3: Cheap, cheap! -
(VCMNA218)
Discuss the main times of the year when big retailers hold sales.
What might this mean for both buyers and sellers? Talk about the language used to describe sale prices (e.g. 'up to 50% off', 'half price', 'buy one get one free' and so on).
Demonstrate how to calculate the sale price of an item by discounting the regular price by 10%, 25% and 50%. Encourage students to suggest ways to calculate a 5% discount.
Students work independently to complete worksheet.
Students use newspapers, catalogues or online advertisements to complete question 4. They calculate the sale price of various items marked down using key percentages of 10%, 25% and 50%, and other percentages derived from these.

46. Worksheet 3: Cheap, cheap!
During sale times, businesses reduce the cost of their stock.
The table below lists the cost of horse equipment sold at a pet shop. Calculate the sale price of each item by deducting the discount from the original price, and write your result in the correct space in the table. The first one has been done for you.
Item/ regular price
Halter $19
Saddle $685
Bridle $126
Stirrups $89.80
Clippers $97.50
Rug $57.90
Brush $25
Hoof polish $9.60
% Discount
10%
25%
50% 5%
Amount of discount
$1.90
Sale price
$17.10

47. Activity 4: Cats or dogs? -
(VCMNA211)
(VCMSP235)
Consider Australian expenditure on cats and dogs in the table in the worksheet.
Discuss the figures that the students find interesting and/or surprising or the relatively small amounts spent on buying pets compared with the ongoing costs of owning them.
Either manually or using Excel or a similar program, students use the information in their completed summary table to generate a side-by-side column graph.

48. Worksheet 4: Cats or dogs?
1.The following table shows the amount of money spent in one year on cats and dogs in Australia. Discuss this as a class.
Dogs
Cats
Item
$ (' )
Veterinary services
1576
533
Wet food
474
363
Dry food
448
212
Boarding and minding
375
Litter
111
Clipping and grooming
204 99
Treats
185
Transport 44
Purchase cost
135 33 72 7
Walking 71
Registration 5
Training 25
Grooming 3 18
Insurance
Show competition fees 2
Burial –
Curriculum planning template

51. VCAA Victorian Curriculum F-10 Mathematics – External resources
Disclaimer
The VCAA does not endorse third-party providers, products or services. The information about these products has been supplied by the commercial provider and thus the VCAA accepts no responsibility for the accuracy of this information.
The inclusion of the following links is for teacher reference purposes and does not constitute VCAA endorsement of the views and/or materials contained on these sites.

54. Other resources
Start Smart
A national financial education program offered in schools and vocational education institutions to build the financial capability of children and young people.
In , Start Smart was delivered to more than
500,000 school students from Year 1 through to
Year 11, and a further 50,000 vocational education
students.

55. Commonwealth Bank Teaching Awards
Recognise the innovative ways teachers work to improve their students’ money management skills.
Award recipients receive $10,000 to establish or expand an existing financial education program in their school, and $2,000 as a personal reward.
$20 Boss
An in-school challenge, run by teachers and schools, that provides students with $20 of start-up money to create their own business.

56. Beyond Bank Australia
A financial education program for students in Years 5, 6 and 7.
‘More than money’ is delivered by teachers over 4-5 weeks utilising an online resource platform, linked with key learning areas. The program covers life skills such as goal setting, working for an income, saving and budgeting.
Students undertake jobs at home, school or in the community, earning a fictional income to buy pre-arranged rewards on program completion.
There are now 226 schools teaching the program, with over 9,000 students enrolled.

57. Hume Bank
A financial literacy program for schools in south-eastern New South Wales and north-eastern Victoria since 2004.
The program includes school banking, competitions to promote regular saving, financial literacy talks to primary and secondary students and a primary activity book.
ESSI Money
An online virtual reality game for use with middle school children, primarily Years 8 and 9.
The game covers the areas of Earning, Saving, Spending and Investing (ESSI).

58. Contacts
For queries related to Financial Literacy/Numeracy, please contact: VCAA Program Manager: Shane O’Connor Telephone: (03) For queries related to the Victorian Curriculum Mathematics, please contact: VCAA Mathematics Curriculum Manager: Dr David Leigh-Lancaster Telephone: (03)