27.2
Student Edition Vocabulary and Phrases:
budget: a plan for how we spend and earn money credit cards: small pieces of plastic that let you buy something now and pay for it later donating: giving part of what you have to others income: money people earn doing work interest: extra money we pay back over time in order to use money now job: the work we do to earn money loan: money a bank gives to someone so they can pay for something expensive
saving: keeping some of your money for the future spending: paying money for goods or services work: an activity that produces a good or service
Language for Social Studies Learning: Language for Social Studies Learning includes any unbolded terms and phrases in the student edition and the teacher edition that enable student understanding. We suggest using a graphic organizer, such as a Frayer box, to assist in student understanding of the weekly vocabulary. earning: getting money as payment for working Critical Thinking Questions: ● How do you make choices between two things you want? ● Why is it important to consider donating money? ● Think about what you have learned about spending and saving money this week. Explain the benefits, or good things, about saving and spending money. What are the costs, or bad things, about saving and spending money? Let’s Draw or Write: ● You have worked really hard and have earned $20. How does it feel to have earned $20? What do you think you should do with it? Is there anyone you could ask for advice? Write out the scenario of what happens to your $20. What do you have to show for it when it’s all gone? ● What benefits are there to budgeting and sticking to your plan? ● How does using a budget increase your ability to meet your needs? ● Imagine you have received $50 from your relatives for your birthday. Create a budget for your birthday money. Remember to plan for spending, saving, and donating. Wellness Questions: ● If a person does not have enough money, what can he do? ● Why does a person need to work hard to earn money? ● What should you buy first with the money you have? ● Is there something that would be fun to save up your money to buy? ● Is there work you enjoy doing that could help you earn money in some way?
Economic Choices | Week 27
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