Teaching Units
Grade 4
Financial Literacy Components Covered: Money & Decision Making | Spending & Saving Money | Economic Citizenship
Teaching Units: Early Experiences With Money | Early Spending & Savings Decisions | Voting
Targets for knowledge, skills, and behaviours below are possible targets. It is not expected that all will be covered by a single Teaching Unit. Teachers can select their learning targets using the Teaching Units provided, adaptations of these Teaching Units, or Units/Lesson Plans they develop on their own.
TEACHING UNIT:
Early Experiences With Money
Financial Literacy Component Covered: Money & Decision Making
Math
Language Arts
Children encounter money and money decisions early in life. It is important that financial education starts early.
LEARNING TARGETS:
KNOW:
Reasons why we have money - spending, saving, pricing
People have different amounts of money to use
How bartering becomes difficult as the number of people and products and services increases
How money makes exchange in the economy easier
What is used as money to pay for things
What we can do with money
Resources and money are limited and this affects our ability to get things we may want
Every money decision we make involves a trade-off
BE ABLE TO:
Recognize money and the value of different denominations
Have a sense of the value of money and how goods and services differ in value and cost
Use money to spend and save
Calculate correct change
ACTION/BEHAVIOUR:
Think about options and the trade-offs when they make a money decision – what they are giving up
Consider the impact their money decisions may have on others, the environment, etc.
Make decisions knowing it is difficult for most people to have everything they want
TEACHING UNIT:
Early spending and saving decisions
Financial Literacy Component Covered: Spending & Saving Money
Math
Language Arts
It is important for everyone to understand the difference between needs and wants – and why most people can’t have everything they want – and that every decision involves trade-offs.
LEARNING TARGETS:
KNOW:
The difference between needs and wants
Spending and saving are two choices in how to use money
People can “save” different things in different ways – not just money
Others can try and influence money decisions
Spending uses money today, saving stores it for future use
Why saving – money and other things – is important and the possible benefits
Where money can be saved and the role of banks
Why we can’t always get things we want
Waiting and saving may be needed to get some things
BE ABLE TO:
Use money to purchase things needed and wanted
Save money
Open a bank account
Assess how advertising can try to affect money decisions
ACTION/BEHAVIOUR:
Consider the benefits that can come from saving for the future
Consider whether something is needed or wanted before making a purchase
As possible, save some of their money for the future
Consider the influence of advertising before making a spending decision
TEACHING UNIT:
Voting
Financial Literacy Component Covered: Economic Citizenship
Social Studies
Language Arts
It is important that students learn about democracy which allows them to choose who will run the government. If students become more aware of their democratic “rights and RESPONSIBILITIES,” they are more likely to become responsible voters when they are of age.
LEARNING TARGETS:
KNOW:
How people determine those who govern them by voting in a democracy
Citizens are responsible for making informed decisions and voting
Examples of goods and services provided by governments
Why governments might produce a good or service
How governments pay for goods and services provided – taxes and borrowing
Examples of taxes that people pay
How people can help others in need – both through government activity and other ways
BE ABLE TO:
Identify goods and services provided by governments
Discuss the possible roles of government in the economy
Recognize how people can affect the decisions and actions of government by voting
ACTION/BEHAVIOUR:
Take an interest in the various levels of government and what they do
Think about what governments do to try and help people and how well governments do their job