1. Money Math Matters: Financial Literacy Instructional and Activities
money to burn
Presented by: Michael Matos
Director of Adult Education Programs and Data; Instructor
Albany Park Community Center – Chicago, Illinois
Doc sharing and
Web sharing:
Georgia’s 2017 Adult Education Fall Conference

2. https://del.icio.us/apccctc

3. Some Financial Literacy Teaching Strategies
The Essential Question is designed to “hook” the learner, promote inquiry and engagement with the lesson, and allow students to exercise problem-solving abilities. It addresses a larger concept, does not have a right or wrong answer, and requires higher order thinking skills.

4. Reading Strategies Restating a problem in your own words
Underlining or highlighting key words or phrases
Studying a graph or diagram before reading
Drawing a graph, picture, or diagram of the problem
Circling numbers or numeric phrases
Rereading a problem
Thinking of a similar problem

5. Writing your own math word problems
Students can work on this in pairs and/or groups
Start with basic numeric problem. Example: 15 3 = 5
Have students rewrite the numeric problem into a word problem. Example: Fifteen slices of pizza divided by three people.
Once students have the idea and context, have them write a more detailed word problem. Example: Mike, Jerry, and Walter went out to eat at their favorite pizza restaurant, Gino’s East. They ordered a large pizza from the menu that is brought to the table cut up into 15 slices. How many slices did they each eat if divided evenly?
You can add a realia item to create more hands on manipulation. Example: menu
You can continue to add more questions and manipulatives. Example: transportation to the restaurant-Bus Schedule; Tipping-Tip Card

6. For Solving Word Problems
ADDITION
Add
All together
And
Both
Combined
How many in all
In All
Increased by
Increase
More
More than
Plus
Sum
Total
SUBTRACTION
Change (for money)
Decrease
Decrease by
Difference
Farther
How many more
How many less
How much left
Larger
Left
Less than
Nearer
Reduce
Remain/remaining
Smaller
So on
MULTIPLICATION
In all Of
Multiply
Product of
Times (as much)
Twice
Whole
DIVISION
Average
Cut
Divide
Each
Equal pieces
Every
One
Quotient
Split
EQUALS/IS EQUAL TO
 Is Yields Is the same as
The result is Is equal to
KEY OPERATION WORDS
For Solving Word Problems

7. Creating educational Activities with Excel, PowerPoint, and Word
Excel – self checking Excel Spreadsheets completed with IF Functions, Conditional Formatting, screen shots, and Developer Tab options
PowerPoint - screen shots, Developer Tab options, animations
Word - screen shots, Developer Tab options

9. VOCABULARY
Word Sort

10. Values, Wants and Needs

11. ARE YOU HEAVY ON THE MUST-HAVES?
TRUE/FALSE QUESTIONS
ARE YOU HEAVY ON THE MUST-HAVES?
1. I worry about having enough money to cover my regular bills, like my electric bill.
2. It seems like most of my money goes to things I cannot control, like rent or car payments.
3. By the time I pay my bills, there is hardly anything left over.
4. The cost of living for just the basics - housing, car, insurance - seems way out of reach.
5. I only spend money on things I need, but there still is not enough.
6. Even though I never buy anything extravagant, I do not have anything in savings.
7. I cannot think of anything in my budget that I could really cut back on.
If you marked true to more than one, you are probably heavy on the must haves.
9/18/2018

12. DO YOU OVERSPEND ON WANTS?
TRUE/FALSE QUESTIONS
DO YOU OVERSPEND ON WANTS?
1. When I go shopping, I am never quite sure how much I can afford to spend on things.
2. When I see something I really want, I just buy it, even if I do not have the money.
3. I never know where all the money goes.
4. I buy things, and then after I get them home I worry that I couldn't really afford them.
5. Worrying about money sometimes takes the pleasure out of outings that are supposed to be fun.
6. When holidays or birthdays come up, I am not sure how much I can afford to spend.
7. I probably spend too much on clothes, restaurant meals, and/or going out for fun.
8. I work hard, so I buy the things I deserve.
If you marked true to more than one, you are probably overspending on wants.
9/18/2018

13. Functions of Money
Money Questions

14. How I Spend My Money

15. Decision Making

16. T-Chart
Pros
Cons
Using a T-chart (are a type of chart, a graphic organizer in which you list and examine two facets of a topic) to list pros and cons related to decisions can help make the decision making process simple.

17. Decision-Making Process
Directions: Choose a situation and document each step of the decision-making process.
1. Identify the problem.
2. Gather information and list possible alternatives. What information would be helpful to consider before making the decision? 

18. Decision-Making Process
Directions Continued: Choose a situation and document each step of the decision-making process.
3. Consider consequences of each alternative.
Alternatives
Consequences

19. Decision-Making Process
Directions Continued: Choose a situation and document each step of the decision-making process.
4. Select the best course of action.
5. Evaluate the results. Why do you think this is the best decision possible?

20. Decision-Making Process
SITUATION 1
Fred loves clothes. His favorite activity is to go shopping at the mall and try on new clothes. He looks forward to the day when he has a job so he can buy all the clothes he wants. Next week is Fred’s birthday and he will receive $75.00 for his present. He saw a pair of jeans at the mall that were $72.00; however, he also needs new shirts, new shorts, and some swim trunks for the summer. His $75.00 could purchase all of these things or it could purchase the one pair of designer jeans. All the kids at school wear these jeans. Fred states, “If only I had a pair of these jeans, I would be popular.” What should Fred do?

21. Decision-Making Process
SITUATION 2
Katie loves clothes. She wishes she could have all the designer clothes she wants. Unfortunately, she can’t; she has two brothers and three sisters, and her parents cannot afford to buy all their children designer clothes. Katie has a few friends that have some designer jeans. Her friends let her borrow the jeans, even though this is against her parents’ wishes. Her parents felt that Katie should not borrow them in case something were to happen to them. In that case, they would need to purchase an outfit to replace the damaged one. One day on the way home from school, Katie tripped and fell on her knees. She tore holes in both knees of the designer jeans she had borrowed from her friend, Julie. Katie was crying, not only because she had injured her knees, but because the new jeans were ruined and they weren’t even hers. What is Katie going to do?

22. Decision-Making Process
SITUATION 3
Steve is fourteen and has taken piano lessons since he was five. He feels that he misses out on many fun activities because he has to practice everyday after school. He wants to quit piano lessons, but his mother will not allow him to; she says, “If you quit the piano now you’ll be sorry when you get older.” Steve wants to quit anyway. What should Steve do?

23. Choosing Brand Name Jeans Over No-Name Jeans
Pros
Cons
Better Fit
Cost More
Popular people will notice me.
I will look just like everyone else.
Feel better about myself.
I can only afford one pair.

24. Economics Questions from PowerPoints
Economics Flash Cards
Economics Questions from PowerPoints

25. Need extra cash to get by until your next payday? Get Cash Fast!
Payday Loans Can Be Costly!
Need extra cash to get by until your next payday? Get Cash Fast!

26. Anna Decides How to Get Out of Debt

27. Minimum Payment Trap Creditor: Smith and Smith Store
Current Balance: $550
Annual Interest Rate: 19.9%
Monthly amount paid
Total number of months to repay
Total amount of interest paid
Total amount of debt paid
Minimum payment
$15
4 years months
$304.13
$854.13
Extra payment of $5
$20
3 years months
$190.43
$740.43

28. Bankruptcy
All you would ever need on bankruptcy:

29. Consequences of Bankruptcy
Influences financial freedom
Limits choices
Pay more for credit
Other people absorb your debt

30. TIPS TO REMEMBER Save money on a regular basis.
Keep track of your daily expenses.
Save money on a regular basis.
Make changes right away if you see yourself starting to get into financial trouble.
Pay attention to your household finances, especially if you are married.
• Keep track of your daily expenses. Even the little expenses, such as a cup of coffee, can add up. Once you know exactly where the money is going, you can figure out where to cut back.
• No matter how well you are doing financially, don’t forget to save money on a regular basis.
• If you see yourself starting to get into financial trouble, make changes right away. Debt can get out of control quickly.
• Pay attention to your household finances, especially if you are married. Many people get into trouble after a divorce or death of a partner when they have no idea where their money is and are inexperienced with keeping financial records.
Thank everyone for their participation, and encourage them to return for
additional sessions. If such sessions are scheduled, you might provide a
“sneak preview” of any activity to come.

33. Understanding Inflation
Definition and Causes of Inflation:
Inflation is defined as a rise in the general level of prices over a sustained period of time.
Inflation can be caused by too many dollars pursuing too few goods.
Inflation can be caused by increased costs of making and selling goods.
Inflation is often measured by the Consumer Price Index (CPI).

34. The Classroom Shopping Show – Fed Bucks: inflation or recession

38. Financial Planning

39. "If you don't know
where you are going,
ANY ROAD
will take you there."

40. Identified a picture that represents your financial plan.
DFGDF
Identified a picture that
represents your financial plan.
What road are you on?
Show the PPT of the pictures. Ask students to think of each picture as a representation of their financial plan. For example, are you out of control driving on slick roads, meaning we have no control of our money and just going with whatever direction we feel like when spending? Give them 3-5 minutes to identify which picture depicts their own financial plan and that of family members or people they know.

41. How far down the road will you travel? Why did you choose this road?
Picture Questions
Who else is in the car?
What is in the trunk?
How far down the road will you travel?
Why did you choose this road?
What was the last thing you did before getting in the car?
What will you do first when you get there?
If you went down this same road again, what would you do different?
The picture of the sheep will be displayed. “What unforeseen obstacles might be ahead?” Take 2 more minutes to analyze what feelings this driver is experiencing.
“Was this driver prepared?” How much different would his experience be with a full tank of gas?
Running low on gas? What if a passenger was injured? How does that differ than if he was 2 blocks from home?
After they have identified a picture that represents their financial plan, have them silently answer the following questions:
In PLAY mode in the PPT, click the mouse. The picture of the sheep will be displayed. Ask the last question: “What unforeseen obstacles might be ahead?” Have students take 2 more minutes to analyze what feelings this driver is experiencing.
You are guaranteed to have difficult and challenging times in their financial lives. The only thing they can do to make those experiences more bearable is to start planning for them now!

42. Housing: Different Places to Live

43. Credit Crisis! What Credit Crisis?
“Creditworthiness” - Investigate: What is Credit?
Credit Card Comparison and Evaluation
Credit Crisis!
What Credit Crisis?

44. The Printed Check and Keeping Your Balance
Keeping Your Balance Activity
Use the following information and the forms in the different envelopes to:
Deposit an endorsed paycheck.
Write checks 322 and 323.
Record all transactions in the checkbook register.
(including ATM receipt)
Balance the checkbook register using the bank statement.
Your opening balance is $53.21.

45. Goal Setting

46. What is a goal?
A written statement of something a person wants or needs to accomplish.
Examples
Graduate from high school
Earn a college degree
Buy a car
Get a job
Lose 15 pounds

47. Specific…….. Measurable… Attainable….. Realistic……. Time-Limited..
SMART Goals
Specific……..
“Pay for lodging, transportation, meals for a 5-day trip to Washington, D.C.”
Measurable…
“$300 through fundraising, $50 from
birthday money, save $25 a week.”
Attainable…..
“If I stick to my plan, I’ll have the money when I need it.”
Realistic…….
“I still have enough money to live on while I work toward this goal.”
Time-Limited..
“I need to have all the money by 6 months from now.”

48. Time-bound Goals Short Term Goals Long Term Goals
Present to 6 months
Long Term Goals
6 month and longer
THIS WILL VARY AMONG RESOURCES

49. Values and Goals
Identify two personal values and one financial value, Set a short and long term goal that which relates to each of these values.
Personal Value:
Short Term Goal:
Long Term Goal: 1. 2.
Financial Value:

50. Financial Goals
Short -Term Goals: Financial priorities that can be accomplished within 3-6 months.
Goal
Target Date
Cost Estimate
Amount Already Saved/Paid
Amount Needed Per Month 1. 2. 3. 4.
Progress as of:
Describe your progress:

51. Financial Goals II
Mid-Term Goals: Financial priorities that can be accomplished within 6 months – 1 year.
Goal
Target Date
Cost Estimate
Amount Already Saved/Paid
Amount Needed Per Month 1. 2. 3. 4.
Progress as of:
Describe your progress:

52. Financial Goals III
Long-Term Goals: Financial priorities that that might take longer than 1 year to accomplish.
Goal
Target Date
Cost Estimate
Amount Already Saved/Paid
Amount Needed Per Month 1. 2. 3. 4.
Progress as of:
Describe your progress:

53. Goal Setting Activity Save $1,000 a year for 5 years
(This couple has already saved $1,000 for their Australian trip and receive a $300 check each year from their co-op).
They may revise their goal to say …
Need to save $4,000 minus $1, co-op distribution check, or $2,500.
$2,500 divided by 60 months = $41.66 per month
To complete this activity, student will each need 4-6 index cards. Start by writing your dreams on the cards. Your dreams aren’t just dreams anymore, they have now become your goals. Don’t leave anything out. Make your dreams specific, put down a year and if there is a financial cost, estimate what it will be. Examples might be: Retirement home in Arizona 2030 $45,000, Graduate school 2015 $20,000, Trip to Australia for two 2013 $5,000. Now sort your cards into two stacks: goals you want to accomplish in the next five years or less, and goals that will take longer than five years. You will see later why it is important to separate long and short-term goals. The important thing is that you save for them differently. Now sort your cards in each stack in order of priority. ON the back of each card, write what you would need to do to make that dream a reality. Also write down money you have saved already for that goal (if any) and other expected sources of money that may help you achieve your goal. For example, if one dream is a trip to Australia for two in five years at an approximate cost of $5,000, you might wirte, “Save $1,000 a year for 5 years.” In this example the couple has already saved $1,000 for their Australian trip, and receive a $300 check each year from their co-op, they may revise their goal to say “$4,000 for a trip to Australia, need to save $4,000 minus $1,500 co-op distribution check or $2,500. Now decide how much money you would need to save each month to achieve that goal, by first turning the number of years you have to reach your goal into months, and then dividing the dollar amount of your goal by that number. In the Australian trip example, the couple would have five years or 60 months to achieve their goal of saving $2,500.
Sixty (months) goes into 2,500 (dollars) times. That means this couple needs to save $41.66 each month for five years to reach their goal. Doesn’t $41.66 a month sounds a lot more manageable than the original goal of $5,000? Once you have determined the dollar amount per month, you may discover you do not have enough cash flow to reach all
your goals. That is where your order of priority comes in. What are you willing to give up so that you will have the resources necessary to reach this goal? How hard are you
willing to work and save to achieve a particular goal? Are you willing to take on a second job? How realistic is each goal when compared with others? You may need to reorganize your goals. Put those that are now unrealistic back on your wish list. If circumstances change, you may still be able to realize those dreams, too! The dreaming and goal-setting process becomes a little more difficult when you are part of a family. Every one should have their own dreams and goals, but as members of a family, it is important to consider and respect each other’s goals.

54. Activity
Create a collage of your financial goals for the future. Use pictures from magazines, clipart from the computer, or your own artwork. The finished collages will be displayed in our classroom.

55. Activity Example

56. Writing Prompt
Write a paragraph identifying one of your long or short-term goals. Explain how it reflects your needs, wants, values, and priorities. Write an action plan to achieve the goal, including tasks, timelines, resources needed, and barriers anticipated.

58. Find $3012
Money had no boundaries and it is everlasting!

59. Jessica’s Pies At the Bakery Financial Literacy Websites
Whistling past the double-dip
Jessica’s Pies
Then and Now – 1913’s prices verses today’s

60. Questions?????
Questions?????

61. Thank you.
Questions?