Mindful Millionaires
Suggested Time: 45-60
minutes
Overview
Students will practice math by engaging in real world money problems,
role-playing employment and financial planning, and counting real
monopoly money!
Vocabulary
- Mathematics
-
Fractions
-
Economy
-
Employment
-
Financial Planning
-
Accounting
Objectives
- Students will learn and apply a wide variety of mathematical
operations.
-
Students will practice financial planning and gain business sense.
-
Students will develop their own problems and solve them together.
Next Generation Science
Standards
- PS1-6. Asking Questions; Planning and Carrying Out Investigations;
Obtaining, Evaluating, and Communicating Information
Common Core Mathematical
Standards
- OA. Operations and Algebraic Thinking
-
NBT. Number and Operations in Base Ten
-
NF. Number and Operations—Fractions
Required Project
Materials
-
Monopoly money
-
Funny hat
-
Long straws and a short straw
-
Props: tools like brooms and paint brushes; clothing items, like ties;
etc.
Multimedia Resources
- If You Made a Million. David M. Schwartz and Steven Kellogg.
http://amzn.com/ 0688136346
Optional Multimedia
Resources
- Lemonade for Sale. Stuart J. Murphy.
http://amzn.com/0064467155
-
Ox-Cart Man . Donald Hall.
http://amzn.com/0140504419
-
The Basket Moon. Mary Lyn Ray.
http://amzn.com/0316735213
-
Counting Money Bingo . iOS App. Other counting apps available
behind the link. https://
itunes.apple.com/us/app/counting-money-by-abcya!/id571405765?mt=8
-
Bunny Money (Max and Ruby). Rosemary Wells.
http://amzn.com/014056750X
Before the Lesson/ Background
Information
- If possible, bring fun props to use for this session, or encourage
students to bring their own.
-
You can also contact an accountant or business professor and have then
come as a guest speaker to help with the lesson.
Homework from Previous
Session:
- You may ask students to bring fun props for this session.
The Lesson
Part 1: Reading Together (15
mins)
1. Read If You Made a Million with the students.
Part 2: Mindful Millionaire Game (30-45
mins)
- Now the students will pretend that they are on Marvelosissimo’s team!
-
Have the students draw straws. The one who gets the short straw gets
to play banker and wear a funny hat! (Alternatively, a student or team
of students can volunteer for this role.) The banker keeps watch over
the monopoly money and oversees transactions.
-
Each student will perform (in this case, play-act) a job like in the
book (or one of the optional books). They can use items in class, or
items you/they brought as props. This activity can also be done
outside!
-
The banker should then pay each student for the completed job. Each
one will get a different amount of money (this can be worked out in
advance, or determined by lottery). The banker gets paid, too!
-
Each student should then work out a personal budget for basic living
expenses and determine what they will do with any extra money. Will
they buy something, or make a long term plan for saving money? If you
have a guest accountant, have them guide this part of the lesson.
-
Work with the students to pursue ideas like philanthropy, investment,
savings, entrepreneurship, and/or pooling resources toward a
cooperative business.