Show Me The Money!

Gary Anderson

Tier 2

Lesson Plan

Show Me The Money!

Students will be able to demonstrate their understanding of basic financial literacy concepts by completing a quiz.

Understanding personal finance is crucial for making informed decisions throughout life. This lesson helps students identify their current knowledge and areas for growth in managing money, budgeting, and saving.

Audience

7th Grade Students

Time

30 minutes

Approach

Interactive quiz and discussion.

Materials

Show Me The Money! Slide Deck, - Financial Literacy Quiz, and - Pencils or pens

Prep

Prepare Materials

10 minutes

Review the Show Me The Money! Lesson Plan and familiarize yourself with the content.
- Make sure the Show Me The Money! Slide Deck is ready to present.
- Print enough copies of the Financial Literacy Quiz for each student in your group.
- Ensure you have pencils or pens available for students.

Step 1

Introduction & Warm-Up

5 minutes

Greet students and introduce the topic of financial literacy. Explain that today's activity is a fun quiz to see what they already know about money. Emphasize that it's okay not to know all the answers; the purpose is to learn and identify areas where they might want to learn more. Display the first slide of the Show Me The Money! Slide Deck.

Step 2

Quiz Time!

15 minutes

Distribute the Financial Literacy Quiz to each student. Instruct them to read each question carefully and answer to the best of their ability. Encourage them to ask clarifying questions if they don't understand a term. Circulate around the group to offer support and ensure students are on task.

Step 3

Review & Discussion

10 minutes

Once students have completed the quiz, go over the answers as a group using the Financial Literacy Quiz Answer Key (optional: you can also project the quiz on the Show Me The Money! Slide Deck for visual aid). Facilitate a brief discussion about some of the questions, especially those that sparked debate or confusion. Ask students:
- 'Which questions did you find challenging?'
- 'What's one new thing you learned or were reminded of today?'
- 'Why is it important to understand financial literacy?'
Praise their effort and participation.

Slide Deck

Show Me The Money!

Welcome to our Financial Literacy Quiz!

Let's see what you already know about managing your money.

It's okay to not know every answer - we're here to learn!

Welcome students and introduce the quiz. Explain it's a way to see what they know about money, not a test. Encourage participation and questions.

Time to Take the Quiz!

Read each question carefully.

Answer to the best of your ability.

Ask questions if you don't understand something.

You've got this!

Distribute the quizzes. Remind students to read carefully and ask if they need clarification on any terms. Circulate to provide support.

Review & Discuss!

Let's go over the answers together.

Which questions were challenging?

What did you learn or were reminded of today?

Why is financial literacy important?

Go over the answers using the answer key. Facilitate a discussion. Use the prompts in the lesson plan: 'Which questions did you find challenging?', 'What's one new thing you learned or were reminded of today?', 'Why is it important to understand financial literacy?'.

Keep Learning About Money!

Financial literacy is a super important skill for your future.

Keep asking questions and learning about how to manage your money!

You're already on your way to a financially smart future!

Conclude by reiterating the importance of financial literacy and encouraging continued learning.

Quiz

Financial Literacy Quiz

Answer Key

Financial Literacy Quiz Answer Key

Question 1

Prompt: What is a budget?
Correct Answer: A plan for how you will spend and save your money.

Question 2

Prompt: Why is it important to save money?
Correct Answer: All of the above.

Question 3

Prompt: What is the difference between a 'want' and a 'need'?
Correct Answer: A want is something you wish for, a need is something you have to have to survive.

Question 4

Prompt: What is an income?
Correct Answer: Money you earn from a job or other sources.

Question 5

Prompt: What is a checking account typically used for?
Correct Answer: Paying bills and everyday expenses.

Question 6

Prompt: What does 'interest' mean when you are saving money at a bank?
Correct Answer: The money the bank pays you for keeping your money with them.

Question 7

Prompt: What is a common way to pay for things without using physical cash?
Correct Answer: All of the above.

Question 8

Prompt: What is a 'financial goal'?
Correct Answer: A specific target you want to reach with your money, like saving for a bike or college.

Question 9

Prompt: Name two things you could do to save money.
Possible Answers: Answers may vary, but could include: making a budget, cutting down on unnecessary spending, setting savings goals, getting a part-time job, selling unused items, packing lunch instead of buying, reducing energy use at home.

Question 10

Prompt: Why is it important to understand how to manage your money?
Possible Answers: Answers may vary, but could include: to be independent, to avoid debt, to achieve goals, to handle emergencies, to have a comfortable future, to make smart financial decisions, to understand the value of work.