Learning to Give, Curriculum Division of The LEAGUE
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Money Smart Teens (9-12)
Unit of 4 lessons
Unit Overview:
This unit investigates the basic concepts of spending, saving, donating, and investing with emphasis on the concept of philanthropy and important economics vocabulary fundamental to “the economic way of thinking.” Students use an economic decision-making model to make an important decision and create personal spending plans (budgets). They also investigate the workings of nonprofit/civil society organizations and participate in an act of philanthropy as a class by presenting funds they have raised to a community nonprofit.
Unit Purpose:
This unit is designed for use with Money Smart Choices: Financial Literacy and Philanthropy, www.moneysmartchoices.org, an interactive web site created through a partnership between the National Endowment for Financial Education® or NEFE® and The League: Curriculum by Learning to Give. The unit can be used effectively even if Internet access is not available to students. All of the content of the web site is provided in the lesson’s Instructional Procedures or Attachments.
In this unit, the students examine closely what it means to spend, save, invest, and donate. They collect money to donate and use an economic decision-making model to choose the recipient. Students begin to understand the importance of budgeting and create a personal budget, as well as investigate budgets of nonprofit/civil society organizations. Throughout the unit, students are reinforced in “the economic way of thinking” with emphasis on improving their understanding of scarcity, the role of opportunity costs in decision-making, and the power of incentives in behavior.
In this unit, the students examine closely what it means to spend, save, invest, and donate. They collect money to donate and use an economic decision-making model to choose the recipient. Students begin to understand the importance of budgeting and create a personal budget, as well as investigate budgets of nonprofit/civil society organizations. Throughout the unit, students are reinforced in “the economic way of thinking” with emphasis on improving their understanding of scarcity, the role of opportunity costs in decision-making, and the power of incentives in behavior.
Unit Objectives:
The learner will:
- define philanthropy (philanthropist) as giving time, talent, or treasure, and taking action for the common good.
- describe the concepts: resources, scarcity, choice, benefits, costs, opportunity cost, interest, interest rate, principal, simple interest, compound interest, compounding.
- define spend, save, invest, and donate.
- brainstorm motivations for giving, and options for donating.
- describe choices one can make with money.
- participate in discussions about goals and the uses of money.
- define incentives, and describe positive and negative incentives.
- give examples of short, medium and long term goals.
- identify the benefits of setting goals and committing to them.
- review and learn economic and philanthropy vocabulary words using a game.
- use an economic decision-making model.
- explore how their choices can affect their own well-being and that of the community.
- research a nonprofit/civil society organization.
- review a nonprofit/civil society organization’s description and budget.
- complete budget revenue and expenses worksheets for a nonprofit/civil society organization.
- identify personal income and expenditures.
- create a personal spending plan/budget reflecting spending, saving, investing, and donating.
- act as a philanthropist by giving money to a charity chosen by the class.
Service Experience:
Although lessons in this unit contain service project examples, decisions about service plans and implementation should be made by students, as age appropriate.
The students will identify community needs and propose ideas about how to respond to them with money donated from a class fund-raising project. They will select a nonprofit/civil society organization to receive their donation and present the gift.
Teacher note: As soon as possible after choosing the civil society organization/charity recipient in Lesson Three, Making Good Money Choices, contact a representative from the organization chosen to receive the class donation. Invite a representative to speak to the class about the organization (such as the mission, budget, career opportunities, new program initiatives, community impact, etc.).
If appropriate, have the students make cards, draw pictures, produce a videotape, or write letters to go along with the donation. Involve students in preparing remarks for and making the official presentation of the money donated on behalf of the entire class.
Unit Assessment:
- Teacher observations of student responses and group work.
- Teacher created vocabulary quizzes.
- Writing prompts using compare and contrast, and identifying real-life examples of concepts taught.
- Writing reflections on giving, or donating, spending, saving, or investing.
- Analysis of student responses to goal charts and nonprofit budgeting worksheets.
- Analysis of optional “One Month of Spending” homework assignment. Extended writing assignment using focus correction areas/rubrics appropriate for grade level to examine:
- Feelings and attitudes about giving/donating/philanthropy importance.
- Impact that their philanthropy has on the common good.
- Plans for future giving on the part of the student.
School/Home Connection:
- A news release is recommended, as appropriate, to describe the class’ philanthropy involvement in the unit and important learning of personal financial literacy for students.
- In Lesson One: Spend, Save, Invest, or Donate, an optional letter to send home to families explains the goals of the unit. (See Attachment Six: Letter to Families)
- In Lesson Four: Learning to Spend, Learning to Give, family members or other community members may be invited to attend class during the presentation of the class gift to the nonprofit/charity.
State Curriculum and Philanthropy Theme Frameworks:
See individual lessons for benchmark detail.
Lessons Developed and Piloted By:
Barbara Dillbeck
Curriculum Director
The LEAGUE Curriculum by Learning to Give
John Noling
Curriculum Consultant
Learning to Give
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