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“Show Me The Money” Summer Survivor 2005 Program. University of Minnesota Extension Service. Day One: Where Does the Money Come From? (Earning Income) Source: Financial Fitness for Life, ©National Council on Economic Education

Session 1 Where Does The Money Come From? (Earning Income) Lesson Plan Objectives: At the end of this lesson youth will be able to: • Relate human capital (work skills) to work • Define money earned as income • Differentiate between money received as income and money received as a gift • Identify ways to earn income

Background Information: People receive money in several ways. Earning money by working is a common one. When working, individuals use their work skills, talents, and abilities (human capital) in a productive way. Another way people receive money is through gifts. In many instances, the money given by the giver was income to him/her. This lesson focuses on the differences between the two sources of money and on human capital as it is related to work.

Supplies Needed: • $5.00 bills (play money) – one for each child • A large torch for class use with a flame “earning money” that will be attached at the end of the lesson. • Supplies to make individual torches for each child. • Copy of the story #1 “A Very Good Day” -- one for the large group or multiple copies if read in smaller groups • Flip chart or white board and markers • Strips of construction paper in 3 colors (approximately 3 strips of each color for each student) Page 1 of 8

“Show Me The Money” Summer Survivor 2005 Program. University of Minnesota Extension Service. Day One: Where Does the Money Come From? (Earning Income) Source: Financial Fitness for Life, ©National Council on Economic Education

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Tape, glue, or staplers Crayons or markers Parent Newsletter – Day One with Nutrition Insert Gardening supplies for Nutrition Connection optional activity Volunteer Teen Leader Information Sheet – Day One

Lesson Overview (75-85 minutes) • Get acquainted activity – 10-15 minutes • Learning Activities: o Story #1 - “A Very Good Day” story & discussion – 15-20 minutes o Exploring Work skills (Human Capital) – 15 minutes o Income Chain Activity -- 20 minutes • Summary/Eval/Wrap Up - 15 minutes

Get Acquainted Activity: (10-15 Minutes) • Give each child a $5 bill (play money). Ask them to introduce themselves & share how they might get or earn $5. • Ask the children what things they think they might need to learn about money in order to “survive” in the world? (Accept a variety of answers). • Share that during the Summer Survivor “Show Me the Money” program we will be learning a lot about money in the following ways: o Lesson 1 – Earning Income o Lesson 2 – Saving o Lesson 3 – Spending o Lesson 4 – Credit & Lending o Lesson 5 – Money Management o Lesson 6 Show Me the Money – The Finale • Share that we each need to learn information and gain skills around money issues in order to “survive” in the world. If we learn this information and develop these skills around money, we will be better prepared to handle our money, get the things that we really need and want, and have less frustration around money issue. • Show the group the large class torch. Explain that at the end of each day we will be adding flames to the torch – to show what we have learned. • Explain that today’s topic is “earning income” … or looking at where money comes from.

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“Show Me The Money” Summer Survivor 2005 Program. University of Minnesota Extension Service. Day One: Where Does the Money Come From? (Earning Income) Source: Financial Fitness for Life, ©National Council on Economic Education

Learning Activities Read & discuss the story “A Very Good Day” – (15 – 20 minutes) • The story can be read to the large group by an adult leader, or the large group can be divided into smaller groups, with the older kids/youth leaders reading the story to the younger kids. (This is a great way to involve the older kids in a leadership...
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