Teachers.Net Meeting - Focus Session

Wednesday, March 22, 2000
Focus Session
Teaching Kids About Money

sbc - I think the topics about teaching money to your students
pam/res/sc/k-5 - what are some of the pre-skills a student should have before teaching about money?
Mare2 - My sweetie knows a song.....It's really kinda funny...It's all about coins....And how to count money....
eimmik - I am not sure what the original ideas of this meeting were but I would like to discuss the actual money value to students...the problem solving aspects, importance of allowances and how to manage that
Tra - I love songs! They work well with the little guys!
aggie/1/ca - There's a great book for that, eimmik, called Money Doesn't Grow on Trees.
eimmik - Yes aggie! thanks that is the book that i was trying to figure out earlier...hang on and I will get the link for it
aggie/1/ca - The same author has also written other books on money management.
kd - I teacher first grade. Recently did my money unit. Used lots of Box it Bag it ideas and also a take home Money Bag (idea from Creative Teachers Press Homework idea book) Not sure of the exact title.
Mare2 - Pennies, nickels, dimes, and quarters! Now a penny's worth one, and a nickel's worth 5,.....a dime is 10 and a quarter, 25! Pennies, nickels, dimes and quarters!! (It's a rap!)
teach2 - what's in your take home money bag?
aggie/1/ca - I don't really do a money unit--- I just do it every day as part of the calendar routine.
eimmik - So tell me how kids are missing the gap between what they are learning in the primary level until they get to me
eimmik - I know our primary does it like that as well aggie!
eimmik - yet when they get to me and I am trying to teach decimals and trying to use that prior knowledge, they are clueless
teach2 - i have coin transparencies & the kids use the overhead projector to show various amounts to classmates
aggie/1/ca - eimmik--- I think it all comes about because kid's don't really use money much! I mean, mom or dad may give em a 5 and send em off to 7-11 to get a gallon of milk or they might buy candy occasionally--- but they don't get a lot of practical, daily experience w/handling money.
pam/res/sc/k-5 - eimmik if you can answer that, you'll make big $$$$$$
eimmik - LOL @ Mare, I started saying that rap outloud! Thanks for sharing that!
Tra - I teach first as well. We have a Math Workbook and I don't like it very much. We had a class store. We had to earn the money first and trace and label coins in a earinging journal and then spend the money and trace and label coins in a spending journal.
lorak - My sweetie knows a song , its really kinda funny, its all about coins and learning to count money!
aggie/1/ca - handling, saving and budgeting money--- if kids did that they would understand, I think.
kd - The money bag contains several books about counting/spending money and a few activities....counting and trading real coins, cutting out paper coins : each letter in the alphabet is either worth a penny, dime or nickel. Students spell their name and then add up what their name is "worth". I also asked them to spell out one word wall word using the alphabet coins and adding it's value. We started using coins during calendar when I introduced money and will now continue for the rest of the year.
eimmik - yes I am amazed at how many questions relating to money are on the yearly testing...somehow we have to bridge that gap between your levels and mine
teach2 - kd, your idea sounds like fun
Tra - We also count money everyday at morning meeting. We use the number of days in school for our amount. The 100th day of school is really exciting because we introduce the dollar!!
eimmik - KD that is a great strategy! Make sure you all post these great lesson ideas at http://www.teachers.net/lessons
Mare2 - Tra! Great idea!! thanks!
eimmik - Tra, how has your class store worked...give us some ideas that you do for that, please
aggie/1/ca - Tra--- I used to do that but found that they needed more experience w/counting smaller amounts. Until Christmas I just have them work on the day's date--- for instance, today is the 22nd so we made 22 cents several diff. ways.
lorak - i use the date and we decide which coins we could use to make that much money (at morning meeting and clendar activities)
kd - Has anyone used the strategy I recently saw on the mailring. Teaching students to count all coins (except the penny) by fives. Nickel one tap, say five. Dime two taps, say 5, 10. Quarter 5 taps, 5, 10, 15, 20, 25 ? I would like to know how your students did with this.
aggie/1/ca - After Christmas I have something called "Pinch O' Money"--- it's like a game show and they lovvvve it! We have a silly theme song and I pretend to interview the "contestant" w/the eraser/microphone.
eimmik - aggie, can you tell us more about that?
aggie/1/ca - kd--- I've been trying that w/my kids---- they still don't quite have it but they are doing better!
Tra - Well, they could earn up to 25 cents a day. Five things worth 5 cents each. Some were individual things like walking quietly in line others were group things like earning the lunchroom award as a group. Teaches them they are not always judged on their own merit.
eimmik - I like that idea Tra, I think that is an important concept for them to learn
aggie/1/ca - OK--- then I have these coins in a little cup and they "pinch" some. The challenge comes then cos they have to count it and record it correctly using the cents sign and the dollar sign and a decimal point on the board.
eimmik - still trying to get that link for Money Doesnt Grow On Trees for you all
eimmik - lorak, what strategies do you use in your class?
Tra - So we earn money for a week. Each day they get the money (real coins) and they trace and label them. Then write how they earned it. We add on all week. At the end of the week we add up all the money in our wallets (lamanated envelopes) and write about how we feel about ourselves after earning money.
eimmik - Tra, please place that on the lesson plan pages!
aggie/1/ca - Does anyone else in here use Univ. of Chicago's Everyday Math?
pam/res/sc/k-5 - I don't teach with it aggie, but my daughter has used it since 1st grade
aggie/1/ca - pam----- I don't really like it but it sure does teach money!!
eimmik - and how does she like it pam?
pam/res/sc/k-5 - she's now in 4th and is so far beyond any of my student's it's not funny
eimmik - aggie, does it make the connection to the real world problem solving situations?
Sarah - We cleaned pennies today - got it from the mail ring. Kids loved it!
aggie/1/ca - Yes, pam--- I agree---- the kids do learn a lot more and at an earlier age W/Everyday Math.
eimmik - Share with us Sarah! Tell us more about it!
pam/res/sc/k-5 - and it's all internalized
Tra - The next two weeks the store is open. Each day they must fill out a spending journal before they shop. Tracing and labeling all the coins in there wallet. Then they write down what they bought and how much it was. They pay the storekeeper (me) and trace and label how much they have left. They are only allowed to buy one thing a day so they really have to make choices. Items (some donated by parents, mostly dollar store stuff, school supplies, candy, etc.) range in price from 1 cent to 50 cents. Including odd numbers like 17 cents and so on. They really learn how to make change!
aggie/1/ca - Sort of, eimmik----- the "everyday" part is more that they use everyday objects to learn math--- lots w/tape measures, thermometers, money, etc.
pam/res/sc/k-5 - We had a student that got burned pretty severly in a house fire...her 1st grade class collected pennies.... they got to count them and all the change that came in...I just hope they remember this when they get to the higher grades
kd - We did a one day penny sale. Each child was asked to bring in no more thatn twenty-five cents. I colledted a bunch of small items and priced them. Students first "window shopped" and then began selecting items to put in their bag. The each had a clipboard and sales slip to fill out. The comments were great> The is good stuff and it doesn't cost much. Do we really have to pay? (YES) This activity required coin recognition, addition and some consumer smarts. Next year will add a PAID stamp!
eimmik - Money Doesn't Grow on Trees : A Parent's Guide to Raising Financially Responsible Children http://www.amazon.com/exec/obidos/ASIN/0671798057/teachersnet/
aggie/1/ca - How fun, kd!!!
eimmik - That is the book we were referring to a few minutes ago!
kd - was asked to bring in no more thatn twenty-five cents. I colledted a bunch of small items and priced them. Students first "window shopped" and then began selecting items to put in their bag. The each had a clipboard and sales slip to fill out. The comments were great> The is good stuff and it doesn't cost much. Do we really have to pay? (YES) This activity required coin recognition, addition and some consumer smarts. Next year will add a PAID stamp!
JJ - I know of teachers that use the everyday math. It is a lot of set-up time. It takes about 1 hour to plan each day's lesson. I have heard teachers get pretty frustrated with it after awhile.
aggie/1/ca - I know Gumbo (chatroom regular) charges her kids to get supplies for art projects--- I'm not sure how she does it but they have to exchange money for the supplies before they can do the project.
aggie/1/ca - Yes, JJ! I've been using it for 4 years--- still don't feel like I know what I'm doing w/it yet.
pam/res/sc/k-5 - I know my daughter's teacher used a good bit of suplemental material as well...especially for the ESL students
aggie/1/ca - She's lucky, pam--- we've been told NOT to supplement!
Tra - I can't remeber the name of the book I have....I wish I could because it tells about how money got started. How people use to trade items but things like sheep and chickens were to heavy to carry so they started trading beads and valuable metals. Then the coin which became very heavy to carry alot of it ....hence paper money!!!
eimmik - A Penny Saved : Teaching Your Children the Values and Life Skills They Will Need to Live in the Real World http://www.amazon.com/exec/obidos/ASIN/0684824809/teachersnet/
ktchr - I am learning box it bag it and so far i love it. Lot of work tho
aggie/1/ca - Is that by the same author, eimmik?
kd - Thanks for the link. I just printed it and can include the info in my next newsletter. I met with other teachers in our district today who use Everyday Math. They had mixed feelings and thought perhaps their frustration was due to a lack of training and support for teachers.
eimmik - I am not sure about the author on that one aggie.
ktchr - Anyone know box it, bag it math?
aggie/1/ca - I do, ktchr! I lovvve their calendar routine!
eimmik - I am not familiar with it ktchr, please share about it with us!
kd - How about materials? Does anyone use the overhead coins? I was lucky enough to have lots of plastic money. I am a big Box it Bag fan and find the time put in to making the activities very worthwhile. Their money unit is great!
ktchr - the story problem solving with the lima beans is adorable
Tra - eimmik: I have bookmarked the site to post lesson plans and promise to go back and post. Thanks for the info everyone but I have got some studying to do myself. I am venturing into the world of grad school but have to pass that darn GRE first!! UHG!
ktchr - I am learning about the money unit tomorrow in my course
eimmik - Tra, I was fascinated by your school store! Please make sure you get all that on the lessons board!
Tra - Thanks for the cheers for the store! It was alot of fun! Good night all. Anyway I can be notified of upcoming meetings on a regular basis?
eimmik - do you all feel that there are enough supplemental materials in the classes to teach money?
aggie/1/ca - Tra--- I think you can---- I think it's one of the options on the mailring page. Do you know how to get there?
eimmik - Tra, if you go to http://teachers.net/mailrings you can get updated information ...wait and let me check that link
PJ/K/CA - where I am I would say no-eimmik
aggie/1/ca - eimmik---- I have a lot and we can usually get small things like that from our principal.
eimmik - yes Tra, go to that link and register for the events mailring!
Tra - I am on the First Grade Mailring but do not get reguarlly notified of meetings.
aggie/1/ca - I've also found that using real money is better--- and it's actually cheaper!--- than using the play money from the teacher's supply store.
ktchr - I agree about using the real money
eimmik - That link will take you to the mailrings and at the bottom there is a box for events.
kd - It does help to have plastic money and good quality coins stamps ( more than one complete set of heads and tails) I agree that real money is important. Again, Box it Bag it unit includes pages with coins (very clear, good quality images.) to use when making game spinners.
pam/res/sc/k-5 - I'm a resource teacher and have one 2nd grader that doesn't know his money... I have about $2 in change....when he can count it he can keep it....he's really working hard to learn the value of each coin and how to add
aggie/1/ca - That's a great idea, pam!
pam/res/sc/k-5 - I wouldn't be able to do it for a whole class, but for one student I thought it was okay
aggie/1/ca - kd--- that' s one thing I do like about ED Math! They teach the kids to record money by drawing a circle and putting a "D" for dime, N for nickel, etc in the middle of it. It's fast and easy.
JC - I did the math cookie project, i found it on the web
eimmik - JC, tell us about it!
ktchr - What grade level JC?
JC - the kids had 15 cents and "bought" candy, for 1 or 2 cents to decorate cookies
JC - Kindergarten
JC - as they bought the candy they put the pennies or nickle in the cup
kd - Simliar idea - one teacher "charges" students for the art supplies they use to decorate their valentine bags... lace 1 cent, stickers 2 cents, etc.
JC - I had them use a grid to keep it organized
pam/res/sc/k-5 - well, I'm gone...making candy fraction bags....
kd - I find the hardest part for my students is the counting of mixed coins, Changing from counting by tens to counting by fives , to ones. Any help?
JC - some kids had a very hard time, because i of the nickle!
JC - really helps to have counting by 5s and 10s very secure before even attempting money
eimmik - I would have loved to know what Pam was doing with candy fraction bags!
aggie/1/ca - Would you all like to hear my 2's 5's and 10's counting songs?
aggie/1/ca - You can sing the 2's (2, 4,6, 8, etc) to Twinkle, Twinkle, the 5's to Yankee Doodle and the 10's to Skip To My Lou.