Lesson Plan
Life Choices and Financial Literacy
Students simulate real-life scenarios using a board game to explore financial literacy and the consequences of everyday life choices.
This lesson empowers students to connect decision-making with future outcomes, fostering responsible financial behaviors and thoughtful planning.
Audience
6th Grade Class
Time
55 minutes
Approach
Interactive game simulation and guided debrief.
Prep
Teacher Preparation
10 minutes
- Review the Life Choices and Financial Literacy lesson plan.
- Familiarize yourself with the Life Simulation Activity setup.
- Prepare materials such as the Financial Literacy Basics slide deck and any necessary game pieces.
- Plan discussion points for the Debrief and Reflect session.
Step 1
Introduction
5 minutes
- Introduce the lesson objectives and explain the importance of financial literacy and life choices.
- Outline the game rules and how they simulate real-world decisions.
Step 2
Game Simulation
35 minutes
- Divide students into small groups and assign roles or starting resources.
- Facilitate the game using the Life Simulation Activity instructions.
- Encourage students to make strategic decisions, discussing potential long-term effects.
Step 3
Debrief and Reflect
15 minutes
- Lead a guided discussion using the Debrief and Reflect prompts.
- Ask questions to help students connect in-game decisions to real-life financial literacy.
- Summarize key takeaways and encourage reflection on lessons learned.
Game
Life Simulation Activity Game
This game simulates real-life scenarios through a board game format. Students will face decisions regarding careers, finances, and life events, allowing them to see firsthand the impact of their choices. Below are the components and guidelines to help you set up and facilitate the game.
Game Setup
-
Materials Needed:
- A game board with various paths representing different life events.
- Game pieces for each student or group.
- Decision cards that include career opportunities, financial challenges, and life events.
- Resource tokens (money, points, or life credits).
-
Preparation:
- Arrange the game board on a surface where all students in each group can see it.
- Organize decision cards in separate decks (e.g., Career Choices, Financial Challenges, Life Events).
- Ensure each group starts with equal resources.
Game Play
-
Starting the Game:
- Divide students into small groups. Each group selects a game piece that will move along the board.
- Explain the game’s objective: make informed decisions to successfully navigate through life's challenges while accumulating the most resources or points.
-
Simulating Real-Life Scenarios:
- Each turn, a group draws a decision card from one of the decks.
- The card will present a scenario (e.g., choosing a career, facing an unexpected expense, receiving an inheritance).
- Groups deliberate and decide on a course of action. Their decision could involve investing resources, taking a risk, or planning ahead.
-
Consequences and Rewards:
- After making a decision, groups advance their game piece accordingly on the board (you can mark positions or simply note the decision outcomes).
- Depending on the choice, groups may earn additional resources or face a setback. Encourage them to discuss why a particular decision worked well or not.
Engagement and Reflection
-
Encourage Strategic Thinking:
Ask groups questions like:- "What long-term effects might this decision have on your game piece's journey?"
- "How did you evaluate the risks and benefits before making your choice?"
-
Reinforce Lesson Objectives:
Remind students that just as in the game, real-life decisions require careful consideration and planning. Highlight examples where a well-thought-out decision led to overall success or, conversely, where a risky choice resulted in challenges. -
Game Adaptations:
- For younger students, simplify some scenarios to reduce complexity.
- For advanced classes, introduce more nuanced challenges such as unexpected life setbacks or bonus opportunities that require additional strategy.
Follow-up
After the game, use the game outcomes as a starting point for a brief reflective discussion. Refer to the Debrief and Reflect guide to steer the conversation.
Happy gaming and learning!
Discussion
Debrief and Reflect Discussion
This discussion session is designed to help you reflect on the game and connect your decisions during play to real-life financial literacy and life choices. Consider the following guidelines and questions as you share your thoughts and insights:
Guidelines for Discussion
-
Share Your Experience:
- Take turns explaining the decisions your group made during the game.
- Describe the challenges you faced and how you worked through them together.
-
Reflect on the Impact:
- Reflect on how the choices made in the game parallel real-life situations.
- Think about any surprising outcomes and what you might do differently next time.
-
Respect and Listen:
- Listen carefully to your peers as they share their thoughts.
- Give constructive feedback and ask follow-up questions to deepen the conversation.
Guided Discussion Questions
Strategic Decision Making
- What were some of the key decisions your group had to make? What factors did you consider when making these decisions?
Evaluating Risks and Rewards
- Can you describe a situation in the game where you had to weigh risks versus rewards? How did that decision affect your progress?
Lessons Learned
- Based on your experience, what did you learn about financial literacy and managing unexpected challenges?
Real-World Connections
- How do you see the scenarios in the game relating to real-life situations you might encounter in the future?
Future Planning
- If you could play the game again, what strategies would you change? Why?
Feel free to jot down your thoughts and be ready to share your reflections with the class. Your insights will help us understand how decision-making in games parallels real-world financial choices and planning for the future!
Happy reflecting and learning!
Slide Deck
Welcome to Financial Literacy Basics
Today, we will explore the fundamentals of financial literacy. We'll cover key terms and practical examples to help you make smart decisions about money.
Introduce the concept of financial literacy. Explain that understanding money management is a key skill for every person. Mention that today's game will help demonstrate these principles.
Key Financial Terms
• Savings
• Budgeting
• Income & Expenses
• Investing
Understanding these terms is crucial for managing your finances wisely.
Discuss essential vocabulary related to financial literacy such as saving, budgeting, spending, and investing. Use examples to explain each term.
Real-Life Applications
Financial literacy helps in making everyday decisions, such as:
- Saving for future goals
- Managing allowance or earnings
- Making informed spending choices
Provide real-life applications of the concepts. Explain how these principles apply to everyday decisions, from saving for a toy to planning for college.
Linking to Our Game
In our game, you'll make choices that impact your financial future. Think about how each decision, like spending or saving, can change the outcome of your journey.
Discuss a brief overview of the game they are about to play and its connection to financial literacy. Encourage questions to ensure understanding.
Summary & Questions
We've learned about basic money concepts today. Are there any questions before we move on to the simulation activity?
Conclude by summarizing what was covered and setting the stage for the interactive game simulation. Invite students to ask any remaining questions.
Game
Life Simulation Game Board
This game board is designed to visually represent different life paths and events that students will navigate during the simulation activity. Each path on the board includes decision points where groups will encounter career choices, financial challenges, and significant life events. Use the board as a guide to help students plan their journey and make strategic decisions.
Board Layout
-
Starting Point:
- All groups begin at the "Start" space where they receive equal resources. This represents the point of entering adulthood and beginning life's journey.
-
Pathways Overview:
- The board includes multiple branching paths. Each path represents a different trajectory in life. Some paths may focus on steady growth, while others might involve riskier decisions that could lead to larger rewards or setbacks.
-
Decision Points:
- Throughout the board, there are clearly marked decision points. Each decision point is linked with a scenario card (e.g., career choices, unexpected expenses, or lucky breaks) that students will draw from corresponding decks.
- Visual icons (e.g., a briefcase for career opportunities, a piggy bank for savings choices, a question mark for unexpected events) help identify the type of decision.
-
Milestones and Checkpoints:
- Certain spaces on the board serve as milestones (e.g., "Graduation", "First Job", "Major Purchase", "Retirement Planning").
- These checkpoints allow students to reflect on their progress and evaluate how past decisions shape their journey.
-
Multiple Routes to Success:
- Different paths lead to multiple possible outcomes, emphasizing that there is more than one way to succeed. The board encourages students to explore several strategies and understand that risk and reward are inherent in real-life decision-making.
Visual Elements
-
Color-Coded Paths:
- Use the provided colors (#FF4500, #FF6347, #FF7F50) to differentiate between various life paths. For example, transactions or major life events might be marked in a bold hue, while routine life events could use a softer tone.
-
Iconography and Symbols:
- Include icons next to decision points to quickly indicate the type of challenge or opportunity.
- Use arrows or dotted lines to show potential branching paths.
How to Use This Board in Class
-
Setup:
- Print or project the game board in a large format so all groups can view it.
- Place game pieces at the starting point for each group.
-
Playing the Game:
- As groups move from space to space, refer to the decision cards from the Life Simulation Activity to determine their actions.
- Use the board's visual cues to discuss and predict the impact of different decisions along various routes.
-
Reflection Points:
- At milestone spaces, pause the game and allow time for reflection and discussion about the choices made so far and the possible long-term impacts.
Happy playing and learning!
- At milestone spaces, pause the game and allow time for reflection and discussion about the choices made so far and the possible long-term impacts.