Financial Literacy Unit: Banking and Money Management

1. Financial Literacy Unit: Banking and Money Management Heather Heffner 11th Grade Alta High School

2. Financial Literacy Standards • Standard 3- Students will understand the principles of Money Management • Understand Depository Institutions • Banking and Savings tools • Manage a Checking Account • Bank Account Simulation • Budgeting • Spending Plans • Planning for major purchases

3. STEM Integration • Math: • Math Reviews on various concepts • Checking account skills • ELA: • Compare and contrast various depository institutions to determine the best fit for the student. • Social Studies: • How does our economy compare to other countries? Do we have enough money? • Science: • Discuss new technologies involved in financial institutions and management... computer use, web based banking, to smart phone use in money management.

4. ADDIE - ANAYLSIS • Learners • 9 Students • 11th Grade Students • All Male • Varied background • All are below level in math - None of the students hit the benchmark for the Math CRT last year.

5. ADDIE- ANALYSIS cont. • Classroom Attitudes / Beliefs: • After interviewing students • 40% do not like school and are often absent • Some have 80 attendance marks • 80% believe that that their education is important • 60% believe that education is important to their family • Technology Access • 100% has access within the school • 80% have access in some form outside

6. ADDIE- DESIGN • Instructional Goal: • The learning goals for this unit are that students will be able to understand the basic concepts regarding budgets, paychecks, checking accounts and taxes. • Testing and Evaluation: • Students will complete a pre-assessment before the banking/money management unit is taught and a post-assessment at the completion of the unit.

7. ADDIE - DESIGN • Feedback: • Students will receive feedback in various forms throughout the unit, this may be an informal conversation or question answer session. Students may also receive feedback via corrected assignments/ quizzes and feedback that lead to mastery. • Motivation: • The students in this class are often motivated during the unit because it involves money. However, the math skill aspect of this unit may scare some of the students because they may struggle in certain areas.

8. ADDIE- DEVLOPMENT • Thematic Unit Basics • 5 Lessons over a period of 7 days • Depository Institutions • Electronic Banking • Checking Account Simulation • The Secret of Saving • Diving into Spending Plans • These lessons were designed by FEFE.

9. ADDIE- Implementation • Implemented Lessons • 2 out of 5 • Depository Institutions- complete • Electronic Banking- 50% complete • Daily Items • Financial Focus: This is a writing prompt that has a financial basis • Math Review: This is a activity that covers various financial math skills. Example: Tipping in a restaurant

10. Thematic Unit – Depository Institutions • Lesson Activities: • Discussion of the Banking Industry • Banking Services Brainstorming • Note Taking on the differences between Depository Institutions and Savings Tools • Financial Facts Worksheet • Checking or Savings Tools Posters

11. Learner Reactions • Students knew what banks were, but didn’t know there were different kinds of banking institutions • Students were unaware of different types of checking accounts and savings tools • Students were interested because these items actually tie into their lives • Students were very engaged and asked questions and were willing to share personal accounts about their ideas/ experiences regarding banking.

12. Changes to Depository Institution Lesson • The main item that I need to adjust is the time factor. • I also think that the Business Services activity could be enhanced by gathering some informational pamphlets for different Depository Institutions. • The advertising poster was actually frustrating for the students because they feel that they aren’t creative. I should have them work in teams on this assignment.

13. Thematic Unit-Electronic Banking • Still currently in this lesson • Lesson Activities • Banking Timeline • Note Taking on Electronic Banking • E Banking Basics Handout

14. Changes to Electronic Banking Lesson • So far we have been able to complete the timeline activity. • Again there is a need to adjust timing. • I think I need to bring in media clips of what banking institutions are now offering. It is sometimes difficult for the students to visualize the piece of media I refer to in the introduction.

15. Meeting Objectives • So far, students have done a good job meeting the objectives. • On the note taking students scored an average of 26 out of 31 points • On the Finding Financial Facts students scored on average of 14 out of 18 points. • The students are still working on the Checking and Savings posters.

16. Evaluation of Materials/ Technology • The materials used were effective, there were a variety of worksheets, handouts, and poster making items. • The technology is also effective, we use the document camera and overhead projector along with the whiteboard . • Changes: I think that I would add more multimedia clips to enhance the lesson

17. Evaluation of Environment • This is a small class and we actually have the students sitting in a small group in the middle of the classroom. • This is great because we don’t lose the attention of the students. • The downfall of this setup is that students will chat with each other on items that are off topic. So I have to redirect often. • I think that if I spread the students out a bit, it would cut down of some of the peer to peer distraction.

18. Conformity to the Design Plan • The main thing that I would change in my design plan is the timing. • We go over on time because • The math review may be more difficult • Students want to share or ask questions about the topic • The activity takes longer that I projected. • I would also allow for more flexibility in group work. • I think this would help not only in the time area, but it would also allow the students struggling with a topic an opportunity to feel that they can be successful.

19. Working with the ADDIE Model • My overall experience with this model has been frustration and confusion… • I like the idea of analyzing your learners, and designing for them, but It can be overwhelming when you have almost 200 students per semester. • I also like the development stage because it really forces me to focus on what is being presented, but the evaluation phase is so difficult. I try to differentiate so much material for my students that I am not actually sure how I should evaluate the students learning in this stage