Lesson Plan #:AELP-APM0008
Author: Frederick J. Smith, Dr. Edwin E. Weeks Elementary School, Syracuse, NY Date: 1994

Grade Level(s): 6

Subject(s):

• Mathematics/Applied Math

OBJECTIVES:
1. To improve self-concept at school and at home.
2. To develop a positive attitude about planning, organizing, and saving.
3. To use basic accounting procedures and record keeping.

MATERIALS:

• Multiple computers; printer
• Software: integrated software package (spreadsheet, database, and word processing)
• Teacher-prepared disk templates and student worksheets

TIME REQUIRED: approximately 20 class periods

ACTIVITIES AND PROCEDURES:
Prepare and administer a survey to assess how and what the students save. Tally the results in a database file. Share the results with the class. Introduce the students to the savings program. Have them join the savings program by signing a contract printed out with the word processing software and give them accounts from a database application.

Assign some students to be bank tellers and other bank employees. Distribute paychecks to the students every two weeks, show them how to endorse their checks, fill out deposit slips, and record the transaction in the database.

Use the word processing software to create passbooks and other reports for each account.

Have the students keep a record of all transactions — check cashing, deposits, withdrawals, and interest earned. Discuss how interest is computed on whole numbers.

Visit a bank; have a bank officer discuss methods of banking, record keeping, and savings accounts. Have the students review banking forms.

Administer the original survey again and tally and compare the results of the two different administrations with the class.

ADDITIONAL NOTES: If possible, provide materials students can purchase with points accumulated in their individual accounts. Seek support from sponsors or organizations.