Unit 3 - MoneySense & Responsible Consumerism
|
|
a) What skills and techniques do I need to manage my personal financial resources effectively?
b) How can financial institutions help me manage my personal finances?
c) What are the pros and cons of credit cards and loans?
d) Why is it important to save money?
e) How do I become a responsible and well-informed consumer?
f) How do economic factors and community and global resources affect the ability of people to manage their resources?
g) What are my rights as a consumer?
Topics:
1. Seasonal Foods & Smart Consimerism
2. Advertising Strategies
3. Financial Literacy
4. Lifestyle Reality Check
5. Needs vs. Wants
6. Prioritizing
7. Earning Money
8. Where to Shop
9. Budgeting
10. Typical Expenses
11. Comparison Shopping
12. Teen FInancial Literacy
13. Income and Expenses
14. Bank Accounts
15. Pay Stubs
16. Grocery Shopping
17. Smart Shopping Tips
b) How can financial institutions help me manage my personal finances?
c) What are the pros and cons of credit cards and loans?
d) Why is it important to save money?
e) How do I become a responsible and well-informed consumer?
f) How do economic factors and community and global resources affect the ability of people to manage their resources?
g) What are my rights as a consumer?
Topics:
1. Seasonal Foods & Smart Consimerism
2. Advertising Strategies
3. Financial Literacy
4. Lifestyle Reality Check
5. Needs vs. Wants
6. Prioritizing
7. Earning Money
8. Where to Shop
9. Budgeting
10. Typical Expenses
11. Comparison Shopping
12. Teen FInancial Literacy
13. Income and Expenses
14. Bank Accounts
15. Pay Stubs
16. Grocery Shopping
17. Smart Shopping Tips
|
<-- Seasonal Foods Lab Assignment (DUE Nov 13) |
1. Seasonal Foods - Smart Consumer Lab
Use the following websites to complete your LAB assignment Due Nov 12
- HARVEST ONTARIO WEBSITE
- BENEFITS OF EATING WHAT'S IN SEASON
- From Food to Fork Cartoon--> https://www.youtube.com/watch?v=xS1SKiypHME 5:52
2. How to be a smart consumer - Biz Kids Video
- Consider using online Flyers to save money!
FLYER COMPARISON SHOPPING SUMMATIVE ASSIGNMENT (10%)
Use the following websites to complete your LAB assignment Due Nov 12
- HARVEST ONTARIO WEBSITE
- BENEFITS OF EATING WHAT'S IN SEASON
- From Food to Fork Cartoon--> https://www.youtube.com/watch?v=xS1SKiypHME 5:52
2. How to be a smart consumer - Biz Kids Video
- Consider using online Flyers to save money!
FLYER COMPARISON SHOPPING SUMMATIVE ASSIGNMENT (10%)
|
3. What influences our use of money as a resource?
- Advertising? see video & handout
- Enablers?
- Excuses & Justifications?
--> Concept of Confirmation Bias*
Recap:
a) What is an enabler?
b) Have you ever seen these behaviours before?
Friends, Peers, Siblings?- Explain what happened.
c) Do you think Enablers actually realize that they're doing the person more bad than good?
Why or why not?
d) In terms of spending, how can the application of confirmation biases be problematic?
- Advertising? see video & handout
- Enablers?
- Excuses & Justifications?
--> Concept of Confirmation Bias*
Recap:
a) What is an enabler?
b) Have you ever seen these behaviours before?
Friends, Peers, Siblings?- Explain what happened.
c) Do you think Enablers actually realize that they're doing the person more bad than good?
Why or why not?
d) In terms of spending, how can the application of confirmation biases be problematic?
Strategies Advertisers Use to Promote Products/Ideas
4. Financial Literacy - definitions
--> The City <--
Click "The City" link above - Scroll down and click "Register Here" link under Student Access
You will need to confirm registration through your personal email account.
YOUR TASK:
a) Create an electronic note of definitions for the following 25 words.
*Use the Glossary from The City to find definitions.
b) Print your note and add to your HIP notebook.
1. Assets
2. Budget 3. Balanced Budget 4. Compound Interest Rate 5. Credit Check 6. Credit Rating 7. Debt 8. Deficit 9. Earnings 10. Expense 11. Financial Life Skills 12. Financial Literacy 5. Managing Personal Finances |
13. Financial Plan
14. Fixed Expenses 15. Gross Income 16. Income 17. Lifestyle 18. Line of Credit 19. Loan 20. Mortgage 21. Need 22. Overdraft 23. Pension 24. Variable Expenses 25. Want |
Question:
What is a Budget and why are they Important?
Needs vs. Wants
Recap:
Needs: a necessity, something required, something essential for life
Wants: a desire, something wished for, something non-essential
Fixed vs. Flexible Expenses
FIXED:
- are those expenses that you must pay per month
- often these expenses are the same amount per month
- eg. rent
FLEXIBLE:
- these are expenses that you choose to spend
- these expenses often fluctuate per month depending on what you want to spend (e.g. eating out)
- some flexible expenses become fixed expenses
(eg. you choose to buy a used car instead of taking public transit, but then you are locked into an amount to pay per month)
6. Prioritizing
Write down 10 things you have purchased in the past month...
PRIORITIZING - 1-2-3
1- Items essential for healthy living (basic food, clothing, shelter, etc.)
2- Items not essential, but important (bicycle or transit pass, entertainment, education)
3- Items that are not essential and not important (popcorn at the movies, new music, video games)
Tasks & Questions:
--> Create a Chart with three columns, and label them as: Priority 1, Priority 2, and Priority 3
--> Organize the words from your purchases list into the columns.
--> Calculate approximately how much money you're spending on items that are not important (priority 3)?
--> What else could you do with that money?
7. Earning Money and Understanding your Pay Stub
see handouts in class*
8. Basic Budgeting & Typical Expenses *handout, discussions & activities in class
THURSDAY NOVEMBER 20
Complete the K-W-L Chart handout, BEFORE AND AFTER, watching this video -----> ~60 min |
For Portfolio:
1. Complete the Budgeting "Assignment 1" in class and add to your portfolio.
2. When finished, complete the reflection below, which will serve as culminating portfolio reflection 2 of 3.
budgeting_reflection.pdf | |
File Size: | 82 kb |
File Type: |
9. Teen Financial Literacy
* Teen Financial Literacy - Research Article Assignment - DUE TUES DEC 2* (5%)
10. Building Credit - handout*
11. Opening a Bank Account
How to Open a Bank Account in Ontario
It's best to have a bank account to process your pay cheques.
--> Stores that advertise "Cash Cheques Here", will take a portion of your cheque as their payment!!
To open an account and get started:
Chequing Accounts
Savings Accounts
Bank Cards
**ASK FOR STUDENT RATES AS LONG AS YOU'RE IN SCHOOL!**
* Teen Financial Literacy - Research Article Assignment - DUE TUES DEC 2* (5%)
10. Building Credit - handout*
11. Opening a Bank Account
How to Open a Bank Account in Ontario
It's best to have a bank account to process your pay cheques.
--> Stores that advertise "Cash Cheques Here", will take a portion of your cheque as their payment!!
To open an account and get started:
- Banks will ask you where your cheques/payments are coming from to ensure their credibility.
- You will need a credible form(s) of identification:
- -> SIN
- -> Birth certificate
- -> Drivers licence (showing current address)
Chequing Accounts
- account used to deposit money at a bank
- money can be added or removed by vising the bak or writing a cheque
- if the account earns interest it's at a lower rate than a savings account
Savings Accounts
- for the purpose of saving money over a period of time
- only you can take out money from your savings account
Bank Cards
- to make deposits, at tellers and at ATM
- different banks have different rules and fees for using
**ASK FOR STUDENT RATES AS LONG AS YOU'RE IN SCHOOL!**
13. Credit Cards
Click the following link and check out the following:
a) Credit Card IQ: quiz
b) Advantages & Disadvantages of Credit Cards
c) Credit Card Facts
d) Your Credit History
e) "I paid how much?!" activity/Debt Calculator
a) Credit Card IQ: quiz
b) Advantages & Disadvantages of Credit Cards
c) Credit Card Facts
d) Your Credit History
e) "I paid how much?!" activity/Debt Calculator
14. RESOURCEFULNESS: Smart Shopping, Cooking & Gift Giving
a) Shopping Tips:
The Shopping Bags Videos & Worksheet
COUPONS?
Extreme Couponing - 20 mins
Couponing in Canada - 6:19 min
INQUIRY:
- Try it yourself--> http://www.frugalshopper.ca
- Or, go to some of your favourite store's websites, and find out what coupons they have available.
b) Resourcefulness in the Kitchen
Remember those frozen bell peppers and stewed tomatoes that were cheap and in-season in the fall?
... Time to put them to good use!
FOOD LAB - MONDAY
In groups of 5 you will be making:
Homemade Spaghetti Sauce
or
Homemade Chili
*After groups are determined - review the recipe as a group, and discuss any vegetable (or bean) additions you would like to include.
On a piece of paper, please write all group members names, the recipe you are choosing, and the additions you will need for groceries.
You may also consider adding additional spices. Be sure to include the approximate quantity that you will need of each extra ingredient.
HAND IN AT END OF CLASS.
|
|
c) Homemade Gifts
i) Basic hand stitching:
---> SEWING LAB
Felt Owl Holiday Ornament
i) Basic hand stitching:
---> SEWING LAB
Felt Owl Holiday Ornament
owl-ornament-1.pdf | |
File Size: | 168 kb |
File Type: |
ii) Homemade Lip Balm (?)
DIYgiftASSIGNMT.pdf | |
File Size: | 122 kb |
File Type: |
GALLERY WALK WILL HAPPEN
TUESDAY DEC 9 - COME PREPARED!
Inquiry Assignment (5%) -
Homemade Gifts Under $40
Your task:
Create 4 one-page posters for quality Do It Yourself (DIY) gifts.
Gift giving around the holidays is certainly a fun tradition, but if you're not careful, it can hit your wallet pretty hard. It's not uncommon to hear of people acquiring credit card debt over the holidays because of reckless spending and failure to look at alternatives to purchased gifts. DIY gifts are always well respected as the receiver knows personal time, effort and most importantly, thought, were put into it.
Do a web quest, try Pinterest (et al.) or use your imagination, to find 4 homemade gift ideas that you could make to meet the following budgets:
1st gift - under $10 ; 2nd gift - under $20 ; 3rd gift - under $30 l 4th Gift - under $40
*Think of gifts that you would be interested in making and giving to someone as a holiday gift (or birthday present).
For each DIY poster, include:
a) Name and/or purpose of the gift
b) Picture(s) of the gift
c) Supplies Required
d) Cost Breakdown (approx.)
e) Instructions & Time involved
f) Who might this gift be good for?
RECALL: *Consider strategies advertisers use to make their products appealing
PRESENTATION OF POSTERS:
You will be printing each of your posters on 8 1/2 x 11 paper, and they will be informally shared with the class in a "gallery" format (think "real life pinterest"), where others can check out your ideas, and perhaps save some to their phones as pictures.
*Some of this pages resources & images are adapted from Mr.Wilson's HIP3E course website @ http://mrwilsons.weebly.com/hip3e.html