MIAMI-DADE COUNTY PUBLIC SCHOOLS
Department of Social Sciences
District Framework – Financial Literacy
GRADE LEVEL OR COURSE TITLE: Fifth Grade United States History Course Code: 5021070The Department of Social Sciences has developed the following District Framework to facilitate the implementation of a three-week Financial Literacy Curriculum in all Miami-Dade County Public School Social Studies classes grades K-12.
Please note the following important general information regarding the Financial Literacy Framework:
· The Financial Literacy Framework provides lessons designed to implement a three-week Financial Literacy curriculum.
· Financial Literacy Frameworks have been developed for all elementary grade levels (K-5) and for each of the required social studies courses at the middle and senior high school levels.
· The Financial Literacy Frameworks are to be utilized by all teachers, grades K-12, when planning for social studies instruction in Financial Literacy.
· The Financial Literacy Framework outlines the pacing in which instruction should occur. Specifically, the Framework is divided into 15 daily lessons needed to complete a three-week instructional component in Financial Literacy. Teachers should make every effort to stay on pace and to complete the topics in the given three-week session. Slight variations in pacing may occur due to professional decisions made by the teacher or because of changes in school schedules.
The National Standards for Financial Literacy provides an outline for teaching personal finance in kindergarten through 12th grade. A student who masters the knowledge embodied in the standards should be able to avoid making poor financial decisions, understand the economic reasons behind the trade-offs between financial choices, and know the basis for their own decisions.
The standards contain the areas of knowledge and understanding that are fundamental to personal finance:
· Earning Income
· Buying Goods and Services
· Using Credit
· Saving
· Financial Investing
· Protecting and Insuring
Each of these six standards includes benchmarks outlining what a student should be able to understand and examples at the 4th, 8th and 12th grade levels of how the student might demonstrate this understanding. The benchmarks also emphasize decision-making skills by explicitly relating planning and goal setting, financial decision making, and assessing outcomes to each standard.
http://www.councilforeconed.org/resource/national-standards-for-financial-literacy/
In the summer of 2015, the Florida Legislature amended the Next Generation Sunshine State Standards to include Financial Literacy in the Social Studies Standards K-12:
2015 Florida Statutes 1003.41 Next Generation Sunshine State Standards (1) (d)
Social Studies standards must establish specific curricular content for, at a minimum, geography, United States and world history, government, civics, humanities, and economics, including financial literacy. Financial literacy includes the knowledge, understanding, skills, behaviors, attitudes, and values that will enable a student to make responsible and effective financial decisions on a daily basis. Financial literacy instruction shall be an integral part of instruction throughout the entire economics course and include information regarding earning income; buying goods and services; saving and financial investing; taxes; the use of credit and credit cards; budgeting and debt management, including student loans and secured loans; banking and financial services; planning for one’s financial future, including higher education and career planning; credit reports and scores; and fraud and identity theft prevention.
http://www.leg.state.fl.us/statutes/index.cfm?mode=View%20Statutes&SubMenu=1&App_mode=Display_Statute&Search_String=Financial+Literacy&URL=1000-1099/1003/Sections/1003.41.html
http://www.fldoe.org/core/fileparse.php/5444/urlt/0074986-financial.pdf
Course Code: / Essential Content / Lesson / Instructional Tools /Day 1 / Content Benchmark:
SS.8.FL.1.1 Explain that careers are based on working at jobs in the same occupation or profession for many years. Describe the different types of education and training required by various careers.
Correlated Literacy Standards:
LAFS.5.SL.2.4 Report on a topic or text or present an opinion, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support main ideas or themes;
speak clearly at an understandable pace.
LAFS.5.W.3.8 Recall relevant information from experiences or gather relevant information from print and digital sources; summarize or paraphrase information in notes and finished / Lesson1: Jobs vs. Careers
In this lesson, students will explore the concept of “earning income” and come to understand why people have jobs. Students will also examine the concept of “career” and be able to differentiate between a job and a career. They will demonstrate their knowledge through participation in the Jobs vs. Careers Jeopardy game. / · Computer with internet access
· Promethian or Smart Board
· Handout #1 Job vs. Career (Included in Lesson)
· Handout #1 Job vs. Career Answer Key (Included in Lesson)
· Job vs. Career Jeopardy Game . http://pages.minot.k12.nd.us/votech/Jeopardy/elementarygames/grades4-5game1/introduction.htm
Day 2 / Content Benchmark:
SS.8.FL.1.2 Identify the many decisions people must make over a lifetime about their education, jobs, and careers that affect their incomes and job opportunities.
Correlated Literacy Standards:
LAFS.5.SL.1.2 Summarize a written text read aloud or information presented in diverse media and formats, including visually, quantitatively, and orally.
LAFS.5.SL.2.4 Report on a topic or text or present an opinion, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support main ideas or themes; speak clearly at an understandable pace.
LAFS.5.RI.1.2 Determine two or more main ideas of a text and explain how they are supported by key details; summarize the text. / Lesson 2: Career Paths
In this lesson, students will explore jobs, careers, and the factors that influence career path choices. Students will participate in a simulation activity in which they apply 4 career influencing factors (skills, interests, education and income) to analyze and choose a career path. / · Computer with Internet access
· Video: Caveman’s Career https://www.youtube.com/watch?v=EqCBVrLy5FM (4 min. 12 sec.)
· Handout #2 Let’s Do the Math (Included in Lesson)
· Handout # 3 Career Choices (Included in Lesson)
Day 3 / Content Benchmark:
SS.8.FL.1.7 Identify that interest, dividends, and capital appreciation (gains) are forms of income earned from financial investments.
Correlated Literacy Standards:
LAFS.5.RI.1.2 Determine two or more main ideas of a text and explain how they are supported by key details; summarize the text.
LAFS.5.RI.3.9 Integrate information from several texts on the same topic in order to write or speak about the subject knowledgeably.
LAFS.5.SL.1.1 Engage effectively in a range of collaborative discussions (one-on-one, in groups, and teacher-led) with diverse partners on grade 5 topics and texts, building on others’ ideas and expressing their own clearly. / Lesson 3: The Bank Pays Me!
This lesson will allow students to learn how to save and earn money with a savings account. Students will be able to understand the importance of using a savings account and how it can provide income throughout the years by earning interest. / · Computer/Internet
· Smartboard/Projector
· Interactive Costs and Benefits of Saving activity: http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?filename=nn585_dragndrop_v3.swf&lid=585
· Video: Cha-Ching Saving for Success https://www.youtube.com/watch?v=hgQQj5xl1WQ
· Handout #1 “The Growth of a Savings Account” for each student (included in lesson plan)
· Interactive Interest Calculator: : http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?filename=interestcalculator.swf&lid=585
Day 4 / Content Benchmark:
SS.8.FL.2.5 Discuss that fact that people may revise their budget based on unplanned expenses and changes in come.
Correlated Literacy Standard:
LAFS.5.SL.2.4 Report on a topic or text or present an opinion, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support main ideas or themes; speak clearly at an understandable pace.
LAFS.5.W.3.8 Recall relevant information from experiences or gather relevant information from print and digital sources; summarize or paraphrase information in notes and finished / Lesson 4: Why Budget?
In this lesson students will explore the concept of budgets and budgeting. They will investigate the elements of a budget. Students will engage in a budgeting activity and be able to explain the components and importance of a budget. / · Promethean or Smart Board
· Computer/projector
· Smart Budgeting Video : https://www.youtube.com/watch?v=58EuubFG9-c
· White Board
· Handout #1: Saving for Disney (Included in lesson plan)
· Handout #2 Maria’s S.M.A.R.T. Budget (Included in lesson plan)
· Handout #2 Maria’s S.M.A.R.T. Budget Answer Key (Included in lesson plan)
Day 5 / Content Benchmark:
SS.8.FL.1.4 Examine the fact that people with less education and fewer job skills tend to earn lower incomes than people with more education and greater job skills.
Correlated Literacy Standard:
LAFS.5.RI.1.3 Explain the relationships or interactions between two or more individuals, events, ideas, or concepts in a historical, scientific, or technical text based on specific information in the text.
LAFS.5.RI.2.4 Determine the meaning of general academic and domain-specific words and phrases in a text relevant to a grade 5 topic or subject area.
LAFS.5.SL.1.2 Summarize a written text read aloud or information presented in diverse media and formats, including visually, quantitatively, and orally. / Lesson 5: Better Education = Higher Income
In this lesson, students will investigate the correlation between education and income. Through examination and analysis of articles, charts and statistics, students will be come to understand that people with more education and job skills will earn a higher income than those without the skills and education. / · Computer/Internet
· SmartBoard/Projector (if not available, you may print each article from the hyperlinks included in the lesson)
· Handout #1 Relationship Between Education and Income (Included in Lesson)
· Handout #1 Relationship Between Education and Income Answer key (Included in Lesson
Day 6 / Content Benchmark:
SS.8.FL.3.7 Discuss the different reasons that people save money, including large purchases (such as higher education, autos, and homes), retirement, and unexpected events. Discuss how people’s tastes and preferences influence their choice of how much to save and for what to save.
Correlated Literacy Standards:
LAFS.5.SL.2.4 Report on a topic or text or present an opinion, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support main ideas or themes; speak clearly at an understandable pace.
LAFS.5.W.3.7 Conduct short research projects that use several sources to build knowledge through investigation of different aspects of a topic.
LAFS.5.W.3.8 Recall relevant information from experiences or gather relevant information from print and digital sources; summarize or paraphrase information in notes and finished / Lesson 6: Saving Money
Students will explore the implications of saving money and how one’s income and cost of living impacts ability to save. Students will practice identifying wise money practices which include the development of an emergency fund, paying yourself first, and being a wise consumer. / · Promethean Board
· PowerPoint Presentation (Included in Lesson 6 file)
· Handout: My Short Term Savings Plan (Included)
Day 7 / Content Benchmark:
SS.8.FL.4.1: Explain that people who apply for loans are told what the interest rate on the loan will be. An interest rate is the price of using someone else’s money expressed as an annual percentage of the loan principal
Correlated Literacy Standard:
LAFS.5.W.3.8: Recall relevant information from experiences or gather relevant information from print and digital sources; summarize or paraphrase information in notes and finished / Lesson 7: Bank Loans
Students will learn about how banks impact the community through the services they provide. They will explore how banks loans operate, including how to calculate interest and analyze loan terms carefully in order to decide which type of loan best suits their needs. / · Computer or Tablet
· Digital Whiteboard
· PowerPoint Presentation: Bank Loans (Included in Lesson 7 File)
· Handout: Bank Loans (Included)
Day 8 / Content Benchmark:
SS.8.FL.4.3 Examine the fact that borrowers who use credit cards for purchases and who do not pay the full balance when it is due pay much higher costs for their purchases because interest is charged monthly. Explain how a credit card user can avoid interest charges by paying the entire balance within the grace period specked by the financial intuition.
Correlated Literacy Standards:
LAFS.5.SL.2.4 Report on a topic or text or present an opinion, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support main ideas or themes; speak clearly at an understandable pace.
LAFS.5.W.3.7 Conduct short research projects that use several sources to build knowledge through investigation of different aspects of a topic.
LAFS.5.W.3.8 Recall relevant information from experiences or gather relevant information from print and digital sources; summarize or paraphrase information in notes and finished / Lesson 8: Using Credit Cards
In this lesson, students will explore how credit cards work and the benefits and dangers of credit card use. They will practice calculating compound interest. Students will review the credit card concepts and terminology from the lesson by playing “Credit Card Bingo”. / · Computer or Tablet
· Digital Whiteboard
· PowerPoint Presentation: Using Credit Cards (Included in Lesson 8 file)
· Handout: Credit Card Bingo (Included)
Day 9 / Content Benchmark:
SS.8.FL.6.1 Analyze the fact that personal financial risk exists when unexpected events can damage health, income, property, wealth, or future opportunities.
Correlated Literacy Standards:
LAFS.5.SL.1.1 Engage effectively in a range of collaborative discussions (one-on-one, in groups, and teacher-led) with diverse partners on grade 5 topics and texts, building on others’ ideas and expressing their own clearly.
LAFS.5.SL.2.4 Report on a topic or text or present an opinion, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support main ideas or themes; speak clearly at an understandable pace. / Lesson 9: Understanding Risks and Insurance
Students will explore risks and insurance. They will identify risks, ways to prevent/minimize risk and learn the purpose of insurance. / · Computer or Tablet
· Digital Whiteboard
· PowerPoint: Understanding Risks and Insurance (Included in Lesson 9 file)
· Handout: Risks and Insurance Crossword Puzzle (Included)
Day 10 / Content Benchmark:
SS.8.FL.6.7 Evaluate social networking sites and other online activity from the perspective of making individuals vulnerable to harm caused by identity theft or misuse of their personal information
Correlated Literacy Standards:
LAFS.5.RI.1.2 Determine two or more main ideas of a text and explain how they are supported by key details; summarize the text.
LAFS.5.RI.3.8 Explain how an author uses reasons and evi-dence to support particular points in a text, identifying which reasons and evidence support which point(s).
LAFS.5.SL.1.1 Engage effectively in a range of collaborative discussions (one-on-one, in groups, and teacher-led) with diverse partners on grade 5 topics and texts, building on others’ ideas and expressing their own clearly. / Lesson 10: Identity Theft