1. Welcome to Personal Financial Literacy Workshop! Please complete the registration form on page 2. 1

2. Helping young people learn to think, choose, and make better economic and financial choices in a global economy Cindy Manzano Director of Smarter Texas 1801 Allen Parkway Houston, TX 77019 C: 713.503.5338 F: 713.655.1655 cindy@economicstexas.org www.economicstexas.org www.smartertexas.org 2

3. Agenda  Accessing resources  Let’s talk personal financial literacy  Grade 3 – Scarcity is Scary  Grade 3 – Flat Broke  Grade 4 – Not Enough Bucks  Grade 4 – Savings is Not Just Child’s Play 3

4. What are some misconceptions elementary children have about money? 4

5. Not developing a sound understanding of personal financial literacy can result in... 5

6. 3.9A explain the connection between human capital/labor and income High school student earns $125 a week 2 years of college earns $750 a week College graduate + medical school earns $2,500 a week

7. TCEE: Grade 3, Lesson 2 Scarcity is Scary 7

8. TCEE created lesson Grade 3, Lesson 2  PFL Math 3.9B: describe the relationship between the availability or scarcity of resources and how that impacts cost

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10. OPPORTUNITY COST Personal Financial Literacy

11. 11 * Suppose you find a backpack and a pair of shoes that you want to buy. However, you only have enough money to buy one of them. Will you choose the backpack or the shoes?

12. 12 * Opportunity cost is the next best alternative that is given up when a person makes a choice. * The item that you did not chose is your opportunity cost. (This is the item you gave up.)

13. What did Abby and Bret give up for the opportunity to go to Giddyland? Because there was a scarcity, what became more expensive and why? What was the children’s solution to the problem? When there is scarcity or low availability of a product, and there are many people demanding or wanting that product, the price may _____________. When the availability or supply of a product increases but not as many people want it, the price will usually_________. 13

14. Flyswatter Vocabulary Race Availability Scarcity Profit Increase Decrease Product Cost Price Goods Service 14

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18. TCEE: Grade 3, Lesson 4 Flat Broke 18

19. Flat Broke Grade 3, Lesson 4  PFL Math 3.9D: Explain that credit is used when wants or needs exceed the ability to pay and that it is the borrower’s responsibility to pay it back to the lender, usually with interest 19

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23. Not Enough Bucks TCEE created lesson Grade 4, Lesson 1 PFL Math 4.10A: distinguish between fixed and variable expenses 23

24. TCEE: Grade 4, Lesson 1 Not Enough Bucks 24

25. Reader’s Theater Activity 4.1-1 Mr. Cash Buck

26. Expenses Fixed expenses are those expenses that remain the same each week or month.

27. Expenses Fixed expenses are those expenses that remain the same each week or month.

28. Expenses Fixed expenses are those expenses that remain the same each week or month. Variable expenses are those expenses that vary from week to week or month to month.

29. Expenses Fixed expenses are those expenses that remain the same each week or month. Variable expenses are those expenses that vary from week to week or month to month.

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33. TCEE: Grade 4, Lesson 3 Saving is Not Just Child’s Play 33

34. Where should the school place the fundraiser money? Capital Elementary just finished a fundraiser to buy new playground equipment for their school. Money has been donated trough many projects, including projects done by Mr. Cash’s class. 34

35. Go to Savings Options PowerPoint 35

36. Act it out Buck the Saver Penny the Borrower Bill the Bank

38. Which is the best savings option? Capital Elementary School has raised $4,200 toward their goal. They plan to purchase the playground equipment 7 months from now. More fund raisers are planned for the spring. The final goal is to raise $10,000.

39. For free ebooks, assessments and correlation charts, go to www.smartertexas.org. www.smartertexas.org 39

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