The Inquiry below is intended to help introduce students to the decisions people have to make everyday when they are living paycheck to paycheck. The Supplemental Resources are provided only to support the Inquiry, but the Inquiry is a comprehensive lesson on its own.
In this Inquiry, students will use a simulator to roleplay an adult trying to make ends meet when they don’t have a surplus of finances. In the process, students will learn about how their decisions impact the people around them and their ability to pay for the necessities each month as well as the pressures and decisions that many people face in this situation. Through this Inquiry, they will learn to use wise spending and saving habits, empathize with those dealing with the living wage, and assess the options people have when they are having financial difficulties.
Make Sure You Click On The ROLEPLAY Inquiry Simulation Link Below, Click FILE and MAKE A COPY, and SHARE it with Mr. Scribner (hscribner@ccs.us) for credit!
Inquiry Simulation: ROLEPLAY: Spent Middle School Edition
Learning Objectives:- Students will experience the circumstances of budgeting on the living wage.
- Students will reflect on the impact of the decisions they made in order to learn from them for the future.
- Students will explore the difficulties of living paycheck to paycheck and learn from the options they face as well as mistakes they make.
- Students SHOULD Play the Game a SECOND Time after recording their answers to more fully understand some of the alternate choices in the simulation.
ACTIVITY:
Complete The Google Document Worksheet As You Complete The Online Simulation. Please Answer All Questions In COMPLETE SENTENCES! Try to use the R.A.C.E Response Method (Repeat the question, Answer the question, Cite your evidence/examples, Explain your evidence/examples) Make sure you SHARE the Google Document with Mr. Scribner (hscribner@ccs.us) for credit.
Standards:
Alignment to Anchor Standards for Reading: CCSS.ELA-LITERACY.CCRA.R.1 Read closely to determine what the text says explicitly and to make logical inferences from it. CCSS.ELA-LITERACY.CCRA.R.7 Integrate and evaluate content presented in diverse media and formats, including visually and quantitatively, as well as in words.. | Alignment to Jump$tart Spending and Saving Standards: 1b: Analyze how spending and saving behavior can affect overall well-being. 1c: Discuss the components of a personal spending plan, including income, planned saving, and expenses. Alignment to Jump$tart Risk Management and Insurance Standards: 1b: Predict the consequences of accepting risk with insufficient or no insurance. 1c: Illustrate how to use insurance to share the risk of financial loss. |
Supplemental Resources:
*Note: These supplemental resources are a work in progress and will be finalized soon!
Video: Just In Case
This video from Cha-Ching is a fun way for students to explore why they should think about having an emergency fund or getting insurance in case issues they can’t plan for arise!
Suggested Follow Up Questions: 1) What are some examples of reasons you might need an emergency fund or insurance from the video? 2) Why do you think people say “plan for the worst” based on what you learned from the video?
This video from Cha-Ching is a fun way for students to explore why they should think about having an emergency fund or getting insurance in case issues they can’t plan for arise!
Suggested Follow Up Questions: 1) What are some examples of reasons you might need an emergency fund or insurance from the video? 2) Why do you think people say “plan for the worst” based on what you learned from the video?
Interactive: PlayInsure
This game allows students to learn about Auto Insurance and Homeowner's Insurance by letting them roleplay as an insured party that encounters many different scenarios. This allows students to see the different plan options, why insurance costs a certain amount, and when it is useful. Since the game is created by the Texas Department of Insurance, it focuses on that state, but it is a great learning tool for students regardless of location.
This game allows students to learn about Auto Insurance and Homeowner's Insurance by letting them roleplay as an insured party that encounters many different scenarios. This allows students to see the different plan options, why insurance costs a certain amount, and when it is useful. Since the game is created by the Texas Department of Insurance, it focuses on that state, but it is a great learning tool for students regardless of location.
- Teacher Tip: Both the Auto Insurance and Homeowner’s Insurance games are very long (30 days) so they are quite repetitive. You might want to tell the students to play for something like 10-15 days!
Video: Payday Loan Advertisement
This Payday loan advertisement tries to sell people payday loans. In the process, it outlines why payday loans exist and why someone living paycheck to paycheck might feel the need to use one. Students might not understand what the big issue with payday loans is given the tone of the video, so discussion afterwards will help them understand.
Suggested Follow Up Questions: 1) How are payday loans different from borrowing money for something like college or a house? 2) Why might someone be searching for a loan like this? 3) What are the 2 qualifications needed to get a payday loan? Why do you think the companies don’t require more info from the borrower? 4) What do you think are the downsides of taking out a payday loan?
This Payday loan advertisement tries to sell people payday loans. In the process, it outlines why payday loans exist and why someone living paycheck to paycheck might feel the need to use one. Students might not understand what the big issue with payday loans is given the tone of the video, so discussion afterwards will help them understand.
Suggested Follow Up Questions: 1) How are payday loans different from borrowing money for something like college or a house? 2) Why might someone be searching for a loan like this? 3) What are the 2 qualifications needed to get a payday loan? Why do you think the companies don’t require more info from the borrower? 4) What do you think are the downsides of taking out a payday loan?
Comprehension Questions: Spent Kahoot
This kahoot is a fun way to assess students on their understanding of the terms and concepts they learned in this lesson.
This project taken directly from https://www.ngpf.org/courses/middle-school/
