Stage 2 Teacher Resource

Pack

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Introduction Welcome to the Commonwealth Bank Foundation’s StartSmart Primary Teacher Resource

Pack (TRP).

This pack has been designed to complement the StartSmart Primary workshops. In it, you

will find post-workshop activities that build upon and reinforce the key concepts covered by

our program. These activities come in a wide variety of formats including worksheets,

teacher-led discussions, games and research assignments.

The Commonwealth Bank Foundation is dedicated to the development of financial literacy

skills in young Australians. A fundamental tenant of the Foundation is to provide educational

resources without promoting Commonwealth Bank products. The StartSmart Primary

program aims to engage students in an interactive and fun learning environment while

equipping them with essential money management skills, primarily through engaging and

educational workshops.

This pack contains activities tailored to the learning needs of Stage 2 students.

Thank you for your participation in the StartSmart program. If you require any further

information about our program, please visit www.startsmart.com.au.

©2010 Commonwealth Bank Foundation Pty Ltd

RESTRICTED WAIVER OF COPYRIGHT

The material in this document is subject to restricted waiver of copyright to allow the material contained in the

publication for use within a school, subject to the conditions below:

1. All copies of the printed material shall be made without alteration or abridgement and must retain

acknowledgement of the copyright.

2. The school or college shall not sell, hire or otherwise derive revenue from copies of the material, nor

distribute copies of the material for any other purpose.

3. The restricted waiver of copyright is not transferable and may be withdrawn in the case of breach of

any of these conditions.

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Contents Contents ................................................................................................................................. 3

Stage 2 Key Learning Outcomes Covered in this Pack ........................................................... 4

Curriculum Points Covered in this Pack ................................................................................. 4

Activities ................................................................................................................................. 6

Activity 1 – Comparative Shopping .................................................................................... 6

Activity 2 – Recognising and Calculating Money ............................................................... 8

Riches Riddle ........................................................................................................... 9

Money Maze ........................................................................................................... 9

Cash-tastrophe!..................................................................................................... 10

Coinversion ........................................................................................................... 11

Activity 3 – The Island of Wants and Needs .................................................................... 12

Activity 4 – A Coach Cash Poster ..................................................................................... 16

Budget ................................................................................................................... 18

Activity 5 – Comparative Shopping (2) ............................................................................ 19

The Best Deal ........................................................................................................ 20

Activity 6 – Revision of Key Workshop Concepts ............................................................ 22

Word Scramble...................................................................................................... 24

Speed to your Needs ............................................................................................. 24

Word Jumble! ........................................................................................................ 25

Answers ................................................................................................................................ 26

Glossary of Key Terms .......................................................................................................... 27

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Stage 2 Key Learning Outcomes Covered in this Pack - Revise and reinforce the key concepts introduced in the Stage 2 workshop. - Appreciate that money includes more than notes and coins.

- Understand how to prioritise between needs and wants to budget expenditure. - Identify ‘smart spending’ techniques such as comparative shopping.

Curriculum Points Covered in this Pack National Financial Literacy Framework NSW Curriculum

NFLF KU3.2 Understand that money comes from a variety of sources and is limited. NFLF KU3.3 Understand that money is used to exchange goods and services. NFLF KU3.4 Understand that money can be kept to meet wants and needs. NFLF KU3.5 Understand the differences between wants and needs. NFLF C3.1 Use money to buy basic goods and services. NFLF C3.2 Compare the value of similar items. NFLF C3.3 Order spending preferences. NFLF C5.1 Classify and compare goods and services. NFLF C5.2 Prepare simple plans and examine financial records.

English TS2.1 Communicates in informal and formal classroom activities and social situations for an increasing range of purposes on a variety of topics across the curriculum. English TS2.2 Interacts effectively in groups and pairs, adopting a range of roles, uses a variety of media and uses various listening strategies for different situations. Mathematics WMS2.3 Uses appropriate terminology to describe, and symbols to represent, mathematical ideas. Mathematics NS2.1 Counts, orders, reads and records numbers up to four digits. Mathematics NS2.2 Uses mental and written strategies for addition and subtraction using two-, three- and four-digit numbers. Mathematics NS2.4 Models, compares and represents commonly used fractions and decimals, adds and subtracts decimals to two decimal places, and interprets everyday percentages. Mathematics PAS2.1 Generates, describes and records number patterns using a variety of strategies and completes simple number sentences by calculating missing values. Mathematics DS2.1 Gathers and organises data, displays data using tables and graphs, and interprets the results. PDHPE Communication Communication in group situations. Science and Technology KUS2.5 Recognise that designs are constrained by time, skills, tools and materials.

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Science and Technology KUS2.10 Justify the selection of processes, tools, equipment, materials, products and software to meet the requirements of the task. Science and Technology VAS2.1 Students will demonstrate confidence in themselves and willingness to make decisions.

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Activities

Activity 1 – Comparative Shopping

Learning Outcomes - Understand the value of comparative shopping

- Model comparative shopping to find the cheapest price

Curriculum Points National Financial Literacy Framework NSW Curriculum

NFLF KU3.3 Understand that money is used to exchange goods and services. NFLF KU3.4 Understand that money can be kept to meet wants and needs. NFLF C3.1 Use money to buy basic goods and services. NFLF C3.2 Compare the value of similar items. NFLF C3.3 Order spending preferences.

English TS2.1 Communicates in informal and formal classroom activities and social situations for an increasing range of purposes on a variety of topics across the curriculum. English TS2.2 Interacts effectively in groups and pairs, adopting a range of roles, uses a variety of media and uses various listening strategies for different situations. Mathematics NS2.1 Counts, orders, reads and records numbers up to four digits. Mathematics NS2.2 Uses mental and written strategies for addition and subtraction using two-, three- and four-digit numbers. Mathematics NS2.4 Models, compares and represents commonly used fractions and decimals, adds and subtracts decimals to two decimal places, and interprets everyday percentages. PDHPE Communication Communication in group situations. Science and Technology VAS2.1 Students will demonstrate confidence in themselves and willingness to make decisions.

Materials Required - A number of catalogues/brochures

- Scissors

- Optional: a number of palm cards with different monetary amounts written on

each

- Optional: a small prize

Running the Activity - Give students a number of brochures and ask them to find and cut out the

cheapest and most expensive versions of various items.

- Using subtraction and addition get students to calculate how much they would

save by shopping around.

- Get students to discuss the benefits of comparative shopping.

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Activity Extension/Alternatives - Divide students into teams.

- Place palm cards with different monetary values written on them face down

around the classroom.

- A representative from each team must race to find the card with the lowest

value on it.

- Play the game in several rounds, with the winning team receiving a prize.

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Activity 2 – Recognising and Calculating Money

Learning Outcomes - Recognise the value of different notes and coins

- Perform calculations using money

Curriculum Points National Financial Literacy Framework NSW Curriculum

NFLF C3.1 Use money to buy basic goods and services. NFLF C5.2 Prepare simple plans and examine financial records.

Mathematics WMS2.3 Uses appropriate terminology to describe, and symbols to represent, mathematical ideas. Mathematics NS2.1 Counts, orders, reads and records numbers up to four digits. Mathematics NS2.2 Uses mental and written strategies for addition and subtraction using two-, three- and four-digit numbers. Mathematics NS2.4 Models, compares and represents commonly used fractions and decimals, adds and subtracts decimals to two decimal places, and interprets everyday percentages. Mathematics PAS2.1 Generates, describes and records number patterns using a variety of strategies and completes simple number sentences by calculating missing values.

Materials Required - One copy of the Riches Riddle, Cash-tastrophe! and Coinversion worksheet

(provided after this activity) per student

- Pencils

Running the Activity - Discuss the importance of being able to conduct monetary transactions with the

class, and ask students to describe situations where they used, or saw people use

money in the past.

- Model conducting simple monetary transactions on the board for students,

discussing common pitfalls encountered when conducting transactions including:

o Confusing dollars and cents

o Leaving the ‘dollar’ or ‘cents’ sign off answers

- Distribute one copy of each worksheet to each student and get them to complete

them.

- Once students have completed the worksheets get them to swap sheets with the

person next to them and go through the answers as a class.

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Riches Riddle

Help Coach Cash figure out the answer to her question by answering these problems and putting the letter in the box under each correct answer. D = $5.50 - $2.25 H = $7.30 + $1.85 A = $100 ÷ 10 O = $3.35 - $1.60 S = $2.15 - $0.75 P = $3.00 + $7.85 U = $4.55 + $0.65 R = $4 x 3 N = $8.25 - $2.70

What’s one great way to save money?

Money Maze

Coach Cash got lost on her way to the bank! Help her find the way.

$1.40 $9.15 $1.75 $10.85 $10 $12 $1.75 $5.20 $5.55 $3.25

Start

End

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Cash-tastrophe!

Oh no! Coach Cash has lost some of her money. Help her figure out which note or coin is missing from each money collection.

Collection Old Amount

Missing Coin/Note

$4.75

$1.30

$8.00

$13.45

$15.25

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Coinversion

Coach Cash wants to swap one set of coins for another. Can you help fill in the blanks to help her figure out how many coins she’ll need to keep the same amount of money?

4 x = x

10 x = x

3 x = x

10 x = x

1 x = x

6 x = x

3 x = x

8 x = x

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Activity 3 – The Island of Wants and Needs

Learning Outcomes - Distinguish between wants and needs and understand why this is an important

distinction

- Prioritise spending decisions

- Recognise that different families have different needs

- Understand that money can buy goods and services

- Recognise that families have to budget their expenditure and balance the wants and

needs of everyone in the family

Curriculum Points National Financial Literacy Framework NSW Curriculum

NFLF KU3.2 Understand that money comes from a variety of sources and is limited. NFLF KU3.3 Understand that money is used to exchange goods and services. NFLF KU3.4 Understand that money can be kept to meet wants and needs. NFLF KU3.5 Understand the differences between wants and needs. NFLF C3.1 Use money to buy basic goods and services. NFLF C3.3 Order spending preferences. NFLF C5.2 Prepare simple plans and examine financial records.

English TS2.1 Communicates in informal and formal classroom activities and social situations for an increasing range of purposes on a variety of topics across the curriculum. English TS2.2 Interacts effectively in groups and pairs, adopting a range of roles, uses a variety of media and uses various listening strategies for different situations. PDHPE Communication Communication in group situations. Science and Technology KUS2.10 Justify the selection of processes, tools, equipment, materials, products and software to meet the requirements of the task. Science and Technology VAS2.1 Students will demonstrate confidence in themselves and willingness to make decisions.

Materials Required - Three copies of the suitcase template

- A number of ‘tokens’ to be distributed throughout the game

- Optional: three cards with ‘baby’, ‘cat’ and ‘cold’ written on each respectively

Running the Activity - Separate students into three ‘family groups.’

- Specify the characteristics of each family, potentially giving each family a prop or

card to help them remember their characteristics: family 1 has a new baby; family 2

has a cat; family 3 has a member with a bad cold.

- Explain to the class that each family is going to a deserted island with just one

suitcase. The suitcase can carry only 6 items.

- Ask each family to decide and write down which 6 items they will take with them on

the trip.

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- The items that the families can choose from are:

A tent

Matches

A comic book

Food

Cat food

A ball

Sunscreen

A bottle

Fairy floss

Cough medicine

A scrabble board

A stereo

- Once the students have chosen their items, the following scenarios are described:

1. There’s a huge thunderstorm, and the rain is pouring down. If you packed a

tent, you get a token.

2. Once the sun sets, it gets really cold. If you packed matches to make a fire,

you get a token.

3. You start to get hungry and thirsty. If you packed food, you get a token. If

you packed water, you get a token. Fairy floss does not count as food as it

will not fill you up.

i. If you had the baby and packed a bottle, you get an additional token.

ii. If you had the cat and packed cat food, you get an additional token.

4. The person with the cold starts to cough and feel sick. If you had a sick

family member and packed cough medicine, you get a token.

5. The sun comes out and it gets very hot. If you packed sunscreen, you get a

token.

Note: If you don’t want to use tokens, you can simply tally the number of points each

team received.

- The team with the most tokens at the end of the game wins a prize.

Activity Extension/Alternatives - Following the game, discuss with the class the importance of spending on your needs

before your wants.

- Ask students to consider what would have happened to a family that had not

considered their needs when packing.

- Students should recognise that different families may have different needs.

- Ask students to consider what else they would have packed if they had extra space in

their suitcase. Students discuss whether ‘smart spending’ means never buying things

that they want.

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Pa

ck Y

our Su

itcase!

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Activity 4 – A Coach Cash Poster

Learning Outcomes - Prioritise spending preferences

- Construct a simple budget

- Understand the benefits of comparative shopping

Curriculum Points National Financial Literacy Framework NSW Curriculum

NFLF KU3.3 Understand that money is used to exchange goods and services. NFLF KU3.4 Understand that money can be kept to meet wants and needs. NFLF KU3.5 Understand the differences between wants and needs. NFLF C3.1 Use money to buy basic goods and services. NFLF C3.2 Compare the value of similar items. NFLF C3.3 Order spending preferences. NFLF C5.1 Classify and compare goods and services. NFLF C5.2 Prepare simple plans and examine financial records.

English TS2.1 Communicates in informal and formal classroom activities and social situations for an increasing range of purposes on a variety of topics across the curriculum. English TS2.2 Interacts effectively in groups and pairs, adopting a range of roles, uses a variety of media and uses various listening strategies for different situations. Mathematics NS2.1 Counts, orders, reads and records numbers up to four digits. Mathematics NS2.2 Uses mental and written strategies for addition and subtraction using two-, three- and four-digit numbers. Mathematics NS2.4 Models, compares and represents commonly used fractions and decimals, adds and subtracts decimals to two decimal places, and interprets everyday percentages. Mathematics DS2.1 Gathers and organises data, displays data using tables and graphs, and interprets the results. PDHPE Communication Communication in group situations. Science and Technology KUS2.5 Recognise that designs are constrained by time, skills, tools and materials. Science and Technology KUS2.10 Justify the selection of processes, tools, equipment, materials, products and software to meet the requirements of the task. Science and Technology VAS2.1 Students will demonstrate confidence in themselves and willingness to make decisions.

Materials Required - A3 paper

- Materials for students to use to create a decorative poster, such as:

o Glitter

o Coloured paper

o Textas

o Coloured pencils

- Play money

- Optional: one copy of the Budget worksheet per student

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Running the Activity - Break students into groups with the task of designing a ‘Coach Cash Poster’ to

display one of the principles taught in the Stage 2 workshop (for example,

comparative shopping, needs and wants, you must work to earn money).

- Give each group the same amount of ‘play money’.

- Explain to students that in order to obtain the materials required to design the

poster, they must ‘buy’ materials from the teacher.

- Assign a different price to each poster material (such as cardboard/paper, textas,

cut out dollar signs and glitter) with necessary items (like cardboard/paper)

cheaper than decorative items.

- Have students model aspects of conducting a transaction such as calculating

change and adding sums of money while ‘buying’ their poster materials.

- Once the posters are completed, have the class discuss strategies for budgeting

and spending prioritisation including:

o Spend on your needs before your wants (“Speed to your needs, wait for

your wants”)

o Plan before you spend

o Different groups may have different needs

Activity Extension/Alternatives Comparative shopping

- Set up two ‘stores’ on either side of the classroom, each selling the same poster

materials for different prices.

- Students who visit both stores will be able to buy their products at the lowest

possible price, whereas those that visit just one will pay more for some items.

- Once the posters are completed, students discuss the benefits and disadvantages

of comparative shopping.

Budget

- Get each group to budget where they will spend their money before they begin

making their poster.

- Get students to consider:

o What items they need and want

o Whether it is better to buy one very decorative item if it means they

won’t be able to afford anything else

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Budget

Sources of Income Amount Earned

Expenses

Amount Spent

Balance (Hint: Subtract your expenses from your income.)

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Activity 5 – Comparative Shopping (2)

Learning Outcomes - Understand the benefits of comparative shopping

Curriculum Points National Financial Literacy Framework NSW Curriculum

NFLF C3.2 Compare the value of similar items. NFLF C5.1 Classify and compare goods and services.

Mathematics NS2.1 Counts, orders, reads and records numbers up to four digits. Mathematics NS2.2 Uses mental and written strategies for addition and subtraction using two-, three- and four-digit numbers. Mathematics NS2.4 Models, compares and represents commonly used fractions and decimals, adds and subtracts decimals to two decimal places, and interprets everyday percentages. Mathematics DS2.1 Gathers and organises data, displays data using tables and graphs, and interprets the results.

Materials Required - One copy of The Best Deal worksheet per student

Running the Activity - Remind students that comparative shopping is an effective way to save money when

purchasing items.

- Discuss common mistakes people make when comparative shopping, including:

o Buying more than you need to get a cheaper price per unit

o Ignoring hidden costs

o Ignoring your individual needs when trying to get the best deal

- Have students complete The Best Deal worksheet.

- Discuss the answers with the class.

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The Best Deal

Help Sean to choose the best deals for him! For each item, circle the option that is cheapest.

Shopping List

2 cartons of juice

1 pair of shoes

1 carton of milk

6 loaves of bread

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Deal 1 Deal 2 How much will Sean Pay?

Juice $6.50

Juice $3.00

Shoes $14.00

Shoes $12.00

2 Bottles for $6.00

1 Bottle for $4.00

Hint: How much does Sean actually need? Can you store extra milk for later?

3 loaves for $9.00

2 loaves for $8.00

$

$5 OFF!!

$3 off!

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Activity 6 – Revision of Key Workshop Concepts

Learning Outcomes - Revise key concepts covered in the Stage 2 workshop

- Explore opportunities to earn money or other rewards

- Recognise the difference between needs and wants

Curriculum Points National Financial Literacy Framework NSW Curriculum

NFLF KU3.2 Understand that money comes from a variety of sources and is limited. NFLF KU3.5 Understand the differences between wants and needs. NFLF C5.1 Classify and compare goods and services.

English TS2.1 Communicates in informal and formal classroom activities and social situations for an increasing range of purposes on a variety of topics across the curriculum.

Materials Required - One copy of the Coach Cash’s Find-a-Word, Word Scramble and Word Jumble

worksheet per student

- Pencils

- Optional: whiteboard markers or chalk

Running the Activity - Have students complete the Coach Cash’s Find-a-Word worksheet.

- Go through each of the words hidden in the find-a-word, and with the class,

come up with a definition for each word (you can refer to the glossary for

definitions of each word).

- Optional: write each word and its definition on the board.

- Once all the words have been defined, ask the class to finish the following

sentences:

o A _____ (want) is something that’s nice to have. A _____ (need) is something

you must have to survive.

o A _____ (good) is something you buy that you can touch and feel. A _____

(service) is something that you buy that someone does for you.

o A _____ (key card) is a card that lets you spend your own money. A (credit

card) is a card where you spend the bank’s money and must pay it back.

o A _____ (coin) is round, flat piece of metal used as money. A _____ (note) is

a piece of paper or plastic that is used as money.

- For additional revision, have students complete the Word Scramble and Word

Jumble worksheets.

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Coach Cash’s Find-a-Word

Banking Shop Around Currency

Good Key Card ATM

Account Withdraw Coin

Need EFTPOS Budget

E F T P O W I T S D

R B A N K I N G H E

S C O I A T M B O K

G O P I G H E U P E

O I N E E D F D A Y

O N E W A R T G R C

D G S A C A P E O A

S L K N V W O T U R

I Y A T X A S K N D

T E T S L L A R D P

C U R R E N C Y X R

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Word Scramble Coach Cash has run out of money for her Money Olympics. Unscramble these words for some ideas about where she could earn some more money. Ekam eth dbe ______ _____ _____ Od het seidhs ______ ______ ______ Wlak the ogd ___ ____ ______ Aregag lesa _______ ______ Lofd het shanigw _______ _______ ________ Efed eth tac _____ _____ ______

Speed to your Needs

Coach Cash is worried about spending too much money at the shops. Help her by going through her shopping list and circling items that are needs, and crossing out items that are wants.

Bread Coach whistles

Skipping rope Water

Dinner ingredients Money Olympics video game

Clothes Soap

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Word Jumble! Coach Cash needs your help! She’s forgotten the meaning of these words. Help Coach Cash remember what each word means by linking the word to its meaning.

ATM A bank card that lets you spend money that you’ve put in the bank.

Credit Card A machine that lets you access money in your bank account without going into a bank. It can also be used to check the balance of a bank account.

EFTPOS A bank card that lets you borrow money from the bank, which you need to pay back.

Key Card A system that allows you to buy things in a shop using a key card to access money that you have in the bank.

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Answers The Best Deal

Deal 2, $6.00; Deal 1, $9.00; Deal 2, $4.00 (Note: deal 1 is the better price per bottle, but

Sean only needs one bottle of milk. If he gets deal 1 he will end up paying more money

and probably waste the milk.) Deal 1, $18.00. Total: $37.00

Riches Riddle

Shop Around

Money Maze

Cash-tastrophe!

$1, 50c, 50c, 50c, $10

Coinversion

8, 1, 6, 1, 2, 3, 6, 2

Word Scramble

Make the bed; do the dishes; walk the dog; garage sale; fold the washing; feed the cat

Speed to your needs

Bread, dinner ingredients, water, soap, clothes

Word Jumble!

ATM – A machine that lets you access money in your bank account without going into a

bank. It can also be used to check the balance of a bank account.

Key Card – A bank card that lets you spend money that you’ve put in the bank.

EFTPOS – A system that allows you to buy things in a shop using a key card to access money

that you have in the bank.

Credit Card – A bank card that lets you borrow money from the bank, which you need to pay

back.

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Glossary of Key Terms Advertising A form of communication that attempts to persuade

potential customers to purchase a good or service.

ATM Automatic teller machine – a computerised device that allows individuals to use a bank card to access money in their bank accounts without going into a bank. It can also be used to check the balance of a bank account.

Comparative Shopping/Shop Around

Comparing similar items to determine which product is the best product for you. In its simplest form, it involves comparing product prices, though it can also be used to compare the properties of different products.

Credit Card A bank card that lets you borrow money from the bank, which you need to pay back.

EFTPOS Electronic funds transfer at point of sale – a system that allows you to directly pay for things that you buy with money that you have in the bank using a key card. It also allows you to withdraw cash at the same time as purchasing a product or service.

Foreign Currency The currency used in a country that is not Australia.

Key Card A bank card that lets you spend money that you’ve put in the bank.

Needs Something that you must have to survive.

Peer Pressure The influence exerted by a peer group in encouraging a person to change their attitudes, values or behaviour to conform to group norms.

Saving Putting money aside, in a bank or piggy bank.

Wants Something that you’d like to have but that you don’t need to survive.