Wednesday, April 6, 2016

Saving Money

Hi Families,

Today, Dustin and Jeff from Norton Financial came to visit us to teach the students about saving money and interest. On the rug, they asked the children what they may save money for, and they got responses such as, "video games, college, a new bed, candy, soccer cleats." They got to have fun thinking about what they would want to save for (sports equipment was popular)! Dustin and Jeff then inquired what adults may save money for, and we heard, "house renovation, a new home, vacation, food." The students had a lot of insight into this topic. This led to discussing how people save money and what interest is.

After the introduction, the students eagerly headed to their seats to see just what interest looked like. They used 10% with $100 and $1000 so it was kid friendly, but it did come up that 10% is a very high rate that you don't see anymore. The first chart, we filled out step by step, but on the second chart, they went onward on their own, confident with their abilities to calculate percentages. Some students went beyond the worksheet to challenge themselves.

It was certainly a fun afternoon and a helpful connection to our work! Students were left wondering if our classroom bankers could start giving interest to students' bank accounts, which would reward children for saving and not overspending at the auction. I think we will stick with what we are doing now though ;)

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