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Money & Me
Project Descriptor
Our ILE is based on our experience visiting the Federal Reserve Bank. Our lesson is
designed to bring awareness to students of the banking system, giving them an
opportunity to earn money and begin a savings account at a local credit union.
Career Pathway: Business
Target Student Population/Grade Level(s) Served: Third/Fourth Grade
Submitted by:
Team Member #1: Tamura Oberle Position: Special Educator
District: Lake Orion Schools School: Blanche Sims
Email: toberle@lakeorion.k12.mi.us Phone: 248.693-5460
Team Member #2: Carrie Abraham Position: Third Grade Teacher
District: Lake Orion Schools School: Blanche Sims
Email: cabraham@lakeorion.k12.mi.us Phone: 248.693-5460
Learning Context:
The focus of the learning experience is to introduce and engage students ‘ awareness
about the Federal Reserve Bank and banking to encourage them to become
responsible, life-long decision-makers with their money.
Essential Questions:
Students will:
Become aware of the role of the Federal Reserve Bank.
Find out how banking works.
Gain confidence to spend and save money wisely.
Participate in a local credit union.
Gain fiscal responsibility and develop appreciation for the importance of work through
saving money.
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Initiating Activity(ies):
Week 1:
• Introduce the Federal Reserve Bank by watching a video about it.
This 13-minute covers the Fed’s history from its creation in 1914 to the
technological innovations of 21st century banking. It explores the structure of the
Fed as well as monetary policy, banking supervision, financial services, and
more.
• Discuss the important job roles of the Fed: maintain stable prices, provide
financial services, and supervise banks.
The web site FederalReserveEducation.org is a helpful site for background
information.
• Read aloud the book Round and Round the Money Goes. Discuss what we
did in history without money. Discuss the following ideas: bartering, coins,
paper money. Brainstorm and make a chart showing the advantages and
disadvantages for each. Summarize the lesson that today the government
determines the value of money, not the material it is made from.
Advantage Disadvantage
Bartering/trade Get something in return Not convenient
Cannot divide a cow
650 B.C. ~ Coins Easier to carry around Become heavy if you
exchange a lot of coins
because made from
precious metals
13th century Chinese ~ Lightweight Issued by Chinese
paper money Emperor
Emperor issued its value,
or worth
Counterfeiting would be
punished by death
• Have students participate in bartering situations. In preparation for this
lesson the teacher will bring in items for the class to barter. Students will
complete the activity sheet Barter System. Discuss the fairness and
unfairness of this system. See attached sheet Barter System.
• At the beginning of the week discuss and send home the parent letter. See
attached parent letter sheet. The letter explains how students will find a way
to earn $5.00. Brainstorm possible ways to earn this money before sending
the letter home.
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Week 2:
• Read and discuss the book How to Make a Million. Discuss the importance of
spending vs. saving money. Get students to think about how banks work and
the role of interest in saving money. Demonstrate how a $1 changes with
interest after one, ten, and twenty years. Discuss the pictures about the
Clearinghouse (Federal Reserve Bank) and trace the path of checks to learn
about Feds role in processing checks.
• Review the value of paper money and coins.
• Have students complete the activity sheet Money & Me Math to practice
writing numbers in written form in preparation for check activity. See attached
sheet Money & Me Math.
• Introduce students to the website www.kidsbank.com. This purpose of this site is
to help them learn about banking. You may want to allow the first day on the site
to explore so they become familiar with it. The web site has the following stories
Start with Penny, Dollar Bill, Interest Ray, Checks, Mr. EFT, and Ask Mr. Money.
• Students will spend 1-2 lab sessions reading the stories on line. They will be
given Lab Sheets to complete after reading a story. See attached sheets Lab
Sheet 1 and Lab Sheet 2.
• Students will reread the story Checks. They will learn about the 10 parts of a
check. Then, they will be given an activity sheet Creative Checks to design their
own check. The teacher may want to bring other examples of checks for design
ideas. See attached sheet Creative Checks.
Week 3:
• Now that students have learned about banking discuss how they can apply what
they’ve learned to make responsible decisions with money. Remind them to
bring in the $5.00 they earned. Allow time for students to share the different
ways they earned their money.
• Review the benefits of saving money. Show students the information to enroll in
the local credit union. Encourage students to make savings goals and plans with
their parents
• Read aloud the story Alexander, Who Used to be Rich Last Sunday by Judith
Viorst. Discuss the spending habits of Alexander and the poor decisions he
made with his money. Discuss what they have learned about banking over the
past few weeks and how this knowledge will help them make responsible and
wise choices with their money.
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Evaluation:
Your grade will be based on the completion of the following activities:
Barter System – 10 points
Money & Me Math – 10 points
Lab Day 1 – 15 points
Lab Day 2 – 15 points
Creative Checks – 20 points
Earned $5.00 – 30 points
Culminating performance(s):
The students will enroll in the Youth Savers program affiliated with our local Community
Schools Credit Union.
Describe how your worksite experience(s) contributed to the development of your
Integrated Learning Experience:
Our two site visits were the Federal Reserve Bank of Chicago Detroit Branch and
DaimlerChrysler Corporation, which included a tour of the Detroit Axle Plant. Visiting
the Federal Reserve we shadowed an Audit Specialist. We were fortunate to receive a
tour on the many floors of the Fed Building, including the entry to many secured areas.
We also spoke with the Community Service Manager who informed us about
educational resources and opportunities for classroom connections. Visiting
DaimlerChrysler we shadowed a Quality Manager. We received a tour of this enormous
facility, which houses 10,000 employees. By visiting the Detroit Axle Plant we were
able to see the connection between the office workplace and plant. Both experiences
were valuable, both personally and educationally. We gained new resources and
knowledge that helped us create our integrating learning activity.
Approximate Time Frame: 3 weeks
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Dear Parents,
Over the next couple of weeks your child will be involved in a “Money
and Me” lesson. We are incorporating Social Studies (Economics) and
Math (value of money) to introduce your child to the value of earning and
saving. It is a fact that American children spend more than 50 billion
dollars a year on consumer goods and influence the spending of 100 billion
more.
Throughout the unit we will be teaching the history of money,
bartering, and simple banking system. Our culminating activity will be to
have our students actively involved in our School Youth Savings Program.
We ask for your support with this project. We would like your child to earn
$5.00 doing a job/chore at home. In three weeks we would like your child
to bring their money to school. We will send you more information about
the Youth Savers Program at a later date. We are very excited with this
unit as it will teach fiscal responsibility and develop an appreciation for the
importance of work through saving.
Thank you for your support, we hope to instill the connection between
work, setting a goal, and saving!
Warm Regards,
Ms. Abraham and Mrs. Oberle
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Lab Day
Kidsbank.com
Partners Names________ __________
Story ______________________
Three new vocabulary words:___________
__________ _ ____________
Summarize
facts:_________________________________
_______________________________________
_______________________________________
_______________________________________
__________________ ___________________
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Creative Checks
The objective of this activity is to introduce students to the concept
of checks and teach the ten parts of a check.
1. Blanche Sims Elementary School 2 . 125
465 E. Jackson 3. Date _________________
Lake Orion, MI 48263
5.
Pay to the order of _______4____________________________
____________________________6 _____________________________dollars
7. Lake Orion Bank
8. memo______________ 10. _________signature____________
9. 12367 : 4422330125
1. Name and Address 2. Check Number
3. Date 4. Pay to…..
5. Amount:promising to pay 6. Amount written
7. Bank Name 8. Memo-notes if needed
9. Account number 10. Signature
Project: Create your own check with attached paper, include the
10 different parts. Be creative……
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Resources for Colleagues
The Fed Today (13 minute video) may be ordered online
for free www.FederalReserveEducation.org
“The Story of Money”, a free informative comic booklet
(they have 6 different topics), up to 35 copies available at no charge
and shipped by the Federal Reserve-
More information contact Community Service Manager Federal
Reserve Bank of Chicago email address: jon.sudduth@chi.frb.org
KidsBank.com Great resource!
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