Lesson Plans

Grade 8

Components Covered: Investing Money | Getting & Earning Money | Protecting Money & Assets | Spending & Saving Money

Teaching Units: Basics of Investing | Exploring Jobs & Careers | Risk & Responsibilities | Spending, Advertising, & Saving to Make a Difference

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:

Basics of Investing

Financial literacy components covered: Investing Money

Language Arts

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Math

A person doesn’t need money to invest. They can invest effort to make a garden grow, invest time to read and learn more, and so on. But many young people will invest money one day – and it is important that they be prepared if they do.

LEARNING TARGETS:

KNOW:

  • Investment is key to making improvements in our economy

  • Investments in people, equipment, capital, and other resources contribute to growth, innovation, and employment

  • Different kinds of basic investments (GICs, stocks, bonds, mutual funds)

  • How the stock market works

  • Investing can result in losses as well as gains

  • Different kinds of investment income (interest, dividends, capital gains)

  • Roles of banks and other financial institutions in investment

  • The “Rule of 72” to help predict the growth in value of an investment

  • The impact compound interest can have on investments

BE ABLE TO:

  • Identify investments that have led to improvements in the economy and their community

  • Explain how investments in stocks can earn money and lose money

  • Calculate interest that will be earned on a savings account or GIC investment

  • Compare the risks of different kinds of investments

ACTION/BEHAVIOUR:

  • Begin to invest resources they have – time, ideas, effort, etc. – to make improvements in their life

  • If possible, start saving and investing early to provide longer time for growth

  • Invest their time, effort, ideas, etc. as they are able to help others

TEACHING UNIT:

Exploring Jobs & Careers

Financial literacy components covered: Getting & Earning Money

Language Arts

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Students need to be aware of the different kinds of jobs and careers that exist, think about what career path they might follow, and the kinds of things that they may like to have in the future, and would be important in their lives.

LEARNING TARGETS:

KNOW:

  • How people get paid for work – e.g. wages, salaries, contracts, gross vs. net pay, types of deductions, etc.

  • Benefits that may be possible to earn from work

  • Factors affecting how much money they can get from employment – including “deductions”

  • Ways they can increase their ability to earn money

  • The difference between employment income and earning money as an entrepreneur (profit)

  • How it is possible to get money from investing – in themselves and other investments

  • Governments have programs to help people improve their ability to earn money

  • Governments have programs to help those with low or no incomes

  • How jobs change, and are changing, over time

  • Role of unions in influencing income and benefits

BE ABLE TO:

  • Identify sources of information regarding possible careers

  • How to explore interest in different career options

  • How to look for a job

  • How to prepare a resume

  • How to handle a job interview

  • Estimate potential future income and possible income needs

  • The risks in “gambling” to try and get more money

ACTION/BEHAVIOUR:

  • Explore areas of personal interest or passion that may affect their future career choice

  • Begin to plan for investments in skills and abilities to prepare for the future

  • Effectively look for a job if they wish to do so

  • Monitor payment for work done to ensure accuracy

  • Avoid gambling problems and addiction

TEACHING UNIT:

Risk & Responsibilities

Financial literacy components covered: Protecting Money & Assets

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Life has many risks but some risks can be reduced when people are informed. Students need to understand that risks can affect not only their finances, but also their health and happiness. Learning about risk, and how risk can be reduced or eliminated, is important.

Language Arts

Math

LEARNING TARGETS:

KNOW:

  • The concept of risk as it relates to the value of money, things you own, health and well-being, etc.

  • Types of risk that exist

  • Things people may own that they will need to protect

  • Risks when using a debit card

  • Risks when using a credit card

  • Risks when writing a cheque

  • Risks when using an ATM

  • Risks that exist for possessions

BE ABLE TO:

  • Recognize risks when they exist

  • Use a debit card safely

  • Use a credit card safely

  • Write a cheque properly and safely

  • Use an ATM safely

ACTION/BEHAVIOUR:

  • Look to identify risks that might exist

  • Take steps to avoid or reduce risk

  • Use financial products and services safely

  • Reduce or eliminate risks, as possible, when they exist

TEACHING UNIT:

Spending, Advertising, & Saving to Make a Difference

Financial literacy components covered: Spending & Saving Money

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Learning some key strategies for spending and saving will help students make wise money decisions. Students also need to be aware of the influence advertising has on their money decisions.

Language Arts

Math

LEARNING TARGETS:

KNOW:

  • Different ways to pay for things

  • To compare costs and benefits when making a consumer decision

  • Some things we need and want may require saving – sometimes over a long period of time (examples)

  • People differ in terms of the money to spend and save

  • People make different money decisions for different reasons

  • Others often try and influence how you use your money

  • Both consumers and producers have rights and responsibilities

BE ABLE TO:

  • Set priorities for their needs and wants

  • Find ways to save money

  • Make good spending and saving decisions

  • Use an ATM appropriately and safely

  • Deal with the influences of others effectively when making money decisions

  • Complain effectively about a product or service if justified

ACTION/BEHAVIOUR:

  • As possible, save some of their money for future use

  • Consider the trade-offs and opportunity cost – today and in the future – when making money decisions

  • Avoid impulsive buying

  • Consider the possible impact on others and the environment when making money decisions